Bank of New York Mellon Corp Cuts Stock Holdings in D.R. Horton, Inc. $DHI

Key Points

• Bank of New York Mellon reduced its D.R. Horton stake by 2.7% in the first quarter, selling 51,149 shares and ending with 1.84 million shares valued at about $252.3 million.
• D.R. Horton reported better-than-expected quarterly earnings of $2.24 per share on revenue of $7.56 billion, though revenue still declined 2.3% year over year.
• The company paid a quarterly dividend of $0.45 per share, while Wall Street currently holds a consensus Hold rating with a $168.62 price target.

Bank of New York Mellon Corp decreased its stake in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 2.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,838,293 shares of the construction company's stock after selling 51,149 shares during the period. Bank of New York Mellon Corp owned about 0.65% of D.R. Horton worth $252,250,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Capital World Investors lifted its position in D.R. Horton by 22.1% during the fourth quarter. Capital World Investors now owns 36,948,434 shares of the construction company's stock valued at $5,321,849,000 after purchasing an additional 6,695,592 shares during the last quarter. Capital Research Global Investors increased its stake in shares of D.R. Horton by 0.3% during the fourth quarter. Capital Research Global Investors now owns 4,647,088 shares of the construction company's stock valued at $669,330,000 after buying an additional 13,155 shares during the period. Norges Bank purchased a new stake in D.R. Horton during the fourth quarter worth $649,305,000. Morgan Stanley lifted its stake in shares of D.R. Horton by 1.9% during the 4th quarter. Morgan Stanley now owns 3,684,724 shares of the construction company's stock worth $530,711,000 after purchasing an additional 67,578 shares during the last quarter. Finally, Invesco Ltd. grew its position in shares of D.R. Horton by 4.5% in the 4th quarter. Invesco Ltd. now owns 3,523,164 shares of the construction company's stock worth $507,441,000 after buying an additional 151,144 shares during the last quarter. 90.63% of the stock is owned by institutional investors.

D.R. Horton Stock Down 3.4%

Shares of DHI opened at $149.24 on Friday. The stock has a 50 day moving average price of $150.54 and a 200 day moving average price of $150.41. D.R. Horton, Inc. has a one year low of $129.22 and a one year high of $184.54. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.97 and a current ratio of 6.46. The stock has a market capitalization of $42.32 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 2.16 and a beta of 1.36.

D.R. Horton (NYSE:DHI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The construction company reported $2.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.15 by $0.09. The firm had revenue of $7.56 billion during the quarter, compared to analyst estimates of $7.55 billion. D.R. Horton had a net margin of 9.51% and a return on equity of 12.94%. D.R. Horton's quarterly revenue was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.58 earnings per share. Equities research analysts forecast that D.R. Horton, Inc. will post 10.6 earnings per share for the current fiscal year.

D.R. Horton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Investors of record on Thursday, May 7th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.2%. The ex-dividend date was Thursday, May 7th. D.R. Horton's dividend payout ratio (DPR) is currently 16.87%.

Wall Street Analyst Weigh In

A number of research firms recently commented on DHI. Citigroup lifted their target price on shares of D.R. Horton from $162.00 to $173.00 and gave the stock a "neutral" rating in a research note on Thursday, April 23rd. Royal Bank Of Canada lifted their price target on D.R. Horton from $117.00 to $123.00 and gave the stock an "underperform" rating in a research report on Wednesday, April 22nd. Wells Fargo & Company increased their price objective on D.R. Horton from $147.00 to $170.00 and gave the company an "equal weight" rating in a report on Wednesday, April 22nd. Truist Financial raised their price target on shares of D.R. Horton from $140.00 to $150.00 and gave the stock a "hold" rating in a research report on Wednesday, April 22nd. Finally, Weiss Ratings downgraded shares of D.R. Horton from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, May 21st. Five research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $168.62.

About D.R. Horton

D.R. Horton, Inc is a national homebuilding company that designs, constructs and sells new residential properties across the United States. The company's core operations focus on building single-family detached homes, townhomes and condominiums for a range of buyer segments. In addition to home construction and sales, D.R. Horton provides complementary services through subsidiaries that support the mortgage, title and closing processes for its customers, enabling integrated transaction workflows from inventory development to home delivery.

Founded in 1978 by Donald R.

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