Marketfield Asset Management Lowers stake in D.R. Horton (DHI)

D.R. Horton (DHI) : Marketfield Asset Management reduced its stake in D.R. Horton by 35.1% during the most recent quarter end. The investment management company now holds a total of 597,474 shares of D.R. Horton which is valued at $16,328,964 after selling 323,126 shares in D.R. Horton , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.D.R. Horton makes up approximately 2.73% of Marketfield Asset Management’s portfolio.

Other Hedge Funds, Including , Fdo Partners sold out all of its stake in DHI during the most recent quarter. The investment firm sold 12,901 shares of DHI which is valued $355,036.Regentatlantic Capital reduced its stake in DHI by selling 1,354 shares or 3.07% in the most recent quarter. The Hedge Fund company now holds 42,691 shares of DHI which is valued at $1,250,419. D.R. Horton makes up approx 0.13% of Regentatlantic Capital’s portfolio.Putnam Fl Investment Management Co boosted its stake in DHI in the latest quarter, The investment management firm added 3,752 additional shares and now holds a total of 55,378 shares of D.R. Horton which is valued at $1,599,317. D.R. Horton makes up approx 0.19% of Putnam Fl Investment Management Co’s portfolio.

D.R. Horton closed down -0.03 points or -0.11% at $28.54 with 36,67,390 shares getting traded on Monday. Post opening the session at $28.56, the shares hit an intraday low of $28.46 and an intraday high of $28.84 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, D.R. Horton reported $0.75 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Nov 8, 2016. Analyst had a consensus of $0.77. The company had revenue of $3651.00 million for the quarter, compared to analysts expectations of $3651.24 million. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.64 EPS.

Investors should note that on Nov 8, 2016, D.R. Horton announced a cash dividend of $0.1000. The company’s management has announced Nov 23, 2016 as the ex-dividend date and fixed the record date on Nov 28, 2016. The payable date has been fixed on Dec 12, 2016.

Many Wall Street Analysts have commented on D.R. Horton. Shares were Reiterated by RBC Capital Mkts on Nov 9, 2016 to “Outperform” and Lowered the Price Target to $ 34 from a previous price target of $38 .Company shares were Upgraded by FBN Securities on Oct 10, 2016 to ” Sector Perform”, Firm has raised the Price Target to $ 27.50 from a previous price target of $25 .D.R. Horton was Initiated by Wells Fargo to “Outperform” on Sep 29, 2016.

D.R. Horton Inc. is a homebuilding company. The Company is engaged in the acquisition and development of land and the construction and sale of residential homes through its operating divisions in around 27 states and over 79 metropolitan markets of the United States under the names of D.R. Horton America’s Builder Express Homes Emerald Homes Breland Homes Regent Homes Crown Communities and Pacific Ridge Homes. The Company operates through two segments: homebuilding and financial services operation. The Company designs builds and sells single-family detached homes on lots it develops and on fully developed lots purchased ready for home construction. To a lesser extent the Company builds and sells attached homes such as town homes duplexes triplexes and condominiums. The Company sells land and lots to other developers and homebuilders where it has excess land and lot positions or for other strategic reasons.

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