84,711 D.R. Horton, Inc. $DHI Shares Sold by Park National Corp OH

Key Points

• Park National Corp OH reduced its D.R. Horton stake by 33% in the third quarter, selling 84,711 shares and retaining 172,183 shares valued at approximately $23.5 million.
• D.R. Horton reported quarterly results above expectations, with EPS of $3.20 versus the $3.02 consensus and revenue of $9.23 billion. The company also declared a quarterly dividend of $0.45 per share, yielding about 1.3% annually.
• DHI shares recently traded at $133.53, near their 12-month low, while analysts maintained a generally cautious outlook: the stock has an overall “Hold” rating and an average price target of $162.62.

Park National Corp OH trimmed its position in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 33.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 172,183 shares of the construction company's stock after selling 84,711 shares during the period. Park National Corp OH owned about 0.06% of D.R. Horton worth $23,529,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Fiduciary Financial Advisors bought a new position in D.R. Horton in the 2nd quarter valued at $25,000. Caitlin John LLC purchased a new stake in shares of D.R. Horton during the second quarter valued at $25,000. Osbon Capital Management LLC purchased a new stake in shares of D.R. Horton during the fourth quarter valued at $26,000. Compass Financial Management LLC bought a new position in shares of D.R. Horton in the second quarter worth about $31,000. Finally, Bell Investment Advisors Inc purchased a new position in D.R. Horton in the 2nd quarter worth about $32,000. Institutional investors own 90.63% of the company's stock.

D.R. Horton Stock Down 1.1%

D.R. Horton stock traded down $1.47 during mid-day trading on Monday, reaching $133.53. 1,395,493 shares of the company were exchanged, compared to its average volume of 2,666,433. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.04 and a current ratio of 6.43. The firm has a market cap of $37.35 billion, a P/E ratio of 12.72, a PEG ratio of 1.92 and a beta of 1.35. The business has a fifty day moving average of $144.06 and a 200 day moving average of $146.61. D.R. Horton, Inc. has a 12-month low of $131.75 and a 12-month high of $176.04.

D.R. Horton (NYSE:DHI - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $3.20 EPS for the quarter, topping the consensus estimate of $3.02 by $0.18. D.R. Horton had a return on equity of 12.47% and a net margin of 9.15%.The firm had revenue of $9.23 billion during the quarter, compared to analyst estimates of $9.10 billion. During the same period in the previous year, the company posted $3.36 EPS. The business's revenue for the quarter was up .0% compared to the same quarter last year. Research analysts anticipate that D.R. Horton, Inc. will post 10.46 earnings per share for the current fiscal year.

D.R. Horton Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Thursday, August 6th. D.R. Horton's dividend payout ratio (DPR) is currently 17.13%.

Analyst Ratings Changes

DHI has been the subject of a number of research analyst reports. Morgan Stanley assumed coverage on shares of D.R. Horton in a report on Thursday. They set an "equal weight" rating and a $151.00 price objective for the company. Wells Fargo & Company decreased their price target on shares of D.R. Horton from $155.00 to $145.00 and set an "equal weight" rating for the company in a research note on Friday, September 11th. Zelman & Associates raised D.R. Horton from a "neutral" rating to an "outperform" rating in a research note on Tuesday, July 7th. Evercore set a $166.00 target price on D.R. Horton in a research report on Friday, September 25th. Finally, Citigroup reiterated a "neutral" rating on shares of D.R. Horton in a report on Wednesday, July 22nd. Five investment analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $162.62.

D.R. Horton Profile

D.R. Horton, Inc is one of the largest homebuilding companies in the United States. Founded in 1978 by Donald R. Horton, the company develops and constructs single-family homes, townhomes and other residential properties for a range of buyers, including first-time, move-up and active-adult households.

The company operates through several homebuilding brands, including D.R. Horton, Express Homes, Emerald Homes and Freedom Homes. Its offerings generally span entry-level and affordable homes, move-up residences, luxury properties and age-qualified communities.

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