D.R. Horton, Inc. (NYSE:DHI) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. trimmed its holdings in D.R. Horton, Inc. (NYSE:DHI) by 64.0% during the third quarter, Holdings Channel.com reports. The fund owned 375,719 shares of the construction company’s stock after selling 668,190 shares during the period. Assenagon Asset Management S.A.’s holdings in D.R. Horton were worth $71,676,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in DHI. Premier Path Wealth Partners LLC boosted its stake in shares of D.R. Horton by 1.0% during the 2nd 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 during the last quarter. Coldstream Capital Management Inc. lifted its stake 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 purchasing an additional 60 shares during the period. Whittier Trust Co. boosted its holdings in shares of D.R. Horton by 1.7% during the second quarter. Whittier Trust Co. now owns 3,693 shares of the construction company’s stock worth $520,000 after purchasing an additional 63 shares during the last quarter. Values First Advisors Inc. grew its position in shares of D.R. Horton by 0.7% in the second quarter. Values First Advisors Inc. now owns 8,878 shares of the construction company’s stock valued at $1,251,000 after purchasing an additional 66 shares during the period. Finally, Studio Investment Management LLC increased its stake in D.R. Horton by 0.3% in the second quarter. Studio Investment Management LLC now owns 23,770 shares of the construction company’s stock valued at $3,350,000 after purchasing an additional 70 shares during the last quarter. 90.63% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DHI has been the subject of several recent analyst reports. UBS Group lifted their price target on D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a report on Friday, July 19th. Citigroup downgraded D.R. Horton from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $181.00 to $156.00 in a report on Tuesday, July 2nd. Evercore ISI raised their price objective on D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Wedbush upgraded D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 target price for the company in a research note on Tuesday, October 15th. Finally, Bank of America increased their target price on D.R. Horton from $196.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, D.R. Horton presently has an average rating of “Moderate Buy” and an average target price of $185.67.

D.R. Horton Stock Performance

NYSE:DHI traded up $2.80 during trading hours on Thursday, reaching $183.09. 678,158 shares of the stock were exchanged, compared to its average volume of 2,429,107. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. The firm has a 50 day simple moving average of $187.72 and a 200-day simple moving average of $164.36. D.R. Horton, Inc. has a 52 week low of $100.29 and a 52 week high of $199.85. The stock has a market capitalization of $60.29 billion, a P/E ratio of 12.53, a P/E/G ratio of 0.78 and a beta of 1.72.

D.R. Horton announced that its Board of Directors has initiated a stock repurchase program on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 6.9% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.

About D.R. Horton

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.