Covalent Partners Lowers stake in D.R. Horton (DHI)

D.R. Horton (DHI) : Covalent Partners reduced its stake in D.R. Horton by 6.7% during the most recent quarter end. The investment management company now holds a total of 610,842 shares of D.R. Horton which is valued at $17.8 Million after selling 43,900 shares in D.R. Horton , the firm said in a disclosure report filed with the SEC on May 13, 2016.D.R. Horton makes up approximately 6.10% of Covalent Partners’s portfolio.

Other Hedge Funds, Including , Geode Capital Management boosted its stake in DHI in the latest quarter, The investment management firm added 139,261 additional shares and now holds a total of 2,746,802 shares of D.R. Horton which is valued at $79.9 Million. D.R. Horton makes up approx 0.04% of Geode Capital Management’s portfolio.Guardian Life Insurance Co Of America reduced its stake in DHI by selling 343 shares or 22.03% in the most recent quarter. The Hedge Fund company now holds 1,214 shares of DHI which is valued at $35,327. D.R. Horton makes up approx 0.01% of Guardian Life Insurance Co Of America’s portfolio. Massmutual Trust Co Fsbadv sold out all of its stake in DHI during the most recent quarter. The investment firm sold 111 shares of DHI which is valued $3,230.Bbva Compass Bancshares Inc boosted its stake in DHI in the latest quarter, The investment management firm added 2,451 additional shares and now holds a total of 63,512 shares of D.R. Horton which is valued at $1.9 Million. D.R. Horton makes up approx 0.14% of Bbva Compass Bancshares Inc’s portfolio. Telos Capital Management sold out all of its stake in DHI during the most recent quarter. The investment firm sold 6,253 shares of DHI which is valued $187,965.

D.R. Horton opened for trading at $30.69 and hit $30.9 on the upside on Wednesday, eventually ending the session at $30.55, with a gain of 0.23% or 0.07 points. The heightened volatility saw the trading volume jump to 32,87,788 shares. Company has a market cap of $11,332 M.

On the company’s financial health, D.R. Horton reported $0.52 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.46. The company had revenue of $2701.00 million for the quarter, compared to analysts expectations of $2693.22 million. The company’s revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on D.R. Horton. Company shares were Reiterated by RBC Capital Mkts on Apr 25, 2016 to “Outperform”, Firm has raised the Price Target to $ 36 from a previous price target of $35 .D.R. Horton was Downgraded by Sterne Agee CRT to ” Neutral” on Apr 22, 2016. Company shares were Reiterated by MKM Partners on Apr 22, 2016 to “Neutral”, Firm has raised the Price Target to $ 31 from a previous price target of $30 .

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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