Synovus Financial Corp Grows Stock Holdings in D.R. Horton, Inc. (NYSE:DHI)

Synovus Financial Corp boosted its holdings in D.R. Horton, Inc. (NYSE:DHI) by 5.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,288 shares of the construction company’s stock after buying an additional 501 shares during the quarter. Synovus Financial Corp’s holdings in D.R. Horton were worth $1,963,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DHI. TCI Wealth Advisors Inc. raised its position in shares of D.R. Horton by 4.1% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 1,487 shares of the construction company’s stock worth $284,000 after acquiring an additional 58 shares in the last quarter. Premier Path Wealth Partners LLC raised its holdings in D.R. Horton by 1.0% during the second quarter. Premier Path Wealth Partners LLC now owns 6,186 shares of the construction company’s stock worth $872,000 after purchasing an additional 59 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in shares of D.R. Horton by 1.2% during the 2nd quarter. Coldstream Capital Management Inc. now owns 5,245 shares of the construction company’s stock worth $739,000 after buying an additional 60 shares during the last quarter. Whittier Trust Co. grew its position in shares of D.R. Horton by 1.7% in the 2nd quarter. Whittier Trust Co. now owns 3,693 shares of the construction company’s stock valued at $520,000 after buying an additional 63 shares during the last quarter. Finally, Covestor Ltd raised its stake in D.R. Horton by 6.6% during the 3rd quarter. Covestor Ltd now owns 1,064 shares of the construction company’s stock worth $203,000 after acquiring an additional 66 shares in the last quarter. 90.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Evercore ISI dropped their price objective on D.R. Horton from $218.00 to $204.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. UBS Group cut their price target on D.R. Horton from $217.00 to $214.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Barclays restated an “equal weight” rating and set a $170.00 target price (down from $192.00) on shares of D.R. Horton in a research report on Wednesday, December 11th. Wells Fargo & Company reduced their price target on shares of D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Citigroup lowered their price objective on shares of D.R. Horton from $186.00 to $185.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $180.60.

D.R. Horton Price Performance

Shares of DHI opened at $149.87 on Monday. The firm has a market capitalization of $48.13 billion, a PE ratio of 10.44, a P/E/G ratio of 0.57 and a beta of 1.71. The stock’s 50 day moving average is $171.02 and its two-hundred day moving average is $169.15. D.R. Horton, Inc. has a twelve month low of $133.02 and a twelve month high of $199.85. The company has a current ratio of 7.32, a quick ratio of 1.61 and a debt-to-equity ratio of 0.23.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.17 by ($0.25). The business had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.22 billion. D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The company’s revenue was down 4.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.45 EPS. Research analysts anticipate that D.R. Horton, Inc. will post 14.17 earnings per share for the current year.

D.R. Horton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th were given a dividend of $0.40 per share. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Tuesday, November 12th. D.R. Horton’s dividend payout ratio is presently 11.14%.

Insider Buying and Selling at D.R. Horton

In related news, Director Barbara K. Allen sold 5,650 shares of D.R. Horton stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $163.10, for a total transaction of $921,515.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.74% of the stock is currently owned by corporate insiders.

D.R. Horton Company Profile

D.R. Horton, Inc operates as a homebuilding company in East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. It engages in the acquisition and development of land; and construction and sale of residential homes in 118 markets across 33 states under the names of D.R.