Bank of New York Mellon Corp Reduces Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Bank of New York Mellon Corp lessened its stake in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 3.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,723,161 shares of the construction company's stock after selling 66,700 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.56% of D.R. Horton worth $219,065,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in DHI. Nemes Rush Group LLC grew its holdings in D.R. Horton by 74.5% in the 4th quarter. Nemes Rush Group LLC now owns 192 shares of the construction company's stock valued at $27,000 after buying an additional 82 shares during the period. Olde Wealth Management LLC purchased a new stake in D.R. Horton in the 1st quarter valued at about $26,000. Itau Unibanco Holding S.A. purchased a new stake in D.R. Horton in the 4th quarter valued at about $43,000. Oarsman Capital Inc. grew its holdings in D.R. Horton by 146.7% in the 4th quarter. Oarsman Capital Inc. now owns 333 shares of the construction company's stock valued at $46,000 after buying an additional 198 shares during the period. Finally, Physician Wealth Advisors Inc. purchased a new stake in D.R. Horton in the 4th quarter valued at about $54,000. Hedge funds and other institutional investors own 90.63% of the company's stock.

Insiders Place Their Bets

In other D.R. Horton news, Director Michael R. Buchanan sold 2,150 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $127.70, for a total value of $274,555.00. Following the sale, the director directly owned 2,193 shares of the company's stock, valued at $280,046.10. This trade represents a 49.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.54% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Bank of America lowered their price target on D.R. Horton from $150.00 to $125.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Softer demand and elevated incentives impacting outlook through H2 2025 The Goldman Sachs Group reduced their price objective on D.R. Horton from $173.00 to $150.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Royal Bank Of Canada reduced their price objective on D.R. Horton from $125.00 to $105.00 and set an "underperform" rating on the stock in a research note on Monday, April 21st. Keefe, Bruyette & Woods reduced their price objective on D.R. Horton from $165.00 to $135.00 and set a "market perform" rating on the stock in a research note on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on D.R. Horton from $132.00 to $111.00 and set an "underweight" rating on the stock in a research note on Monday, April 21st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $151.15.

D.R. Horton Stock Performance

DHI stock opened at $131.01 on Tuesday. The company has a current ratio of 7.29, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. The firm has a market cap of $40.24 billion, a P/E ratio of 9.92, a P/E/G ratio of 4.12 and a beta of 1.38. D.R. Horton, Inc. has a 12-month low of $110.44 and a 12-month high of $199.85. The stock's 50 day simple moving average is $124.27 and its 200 day simple moving average is $129.26.

D.R. Horton (NYSE:DHI - Get Free Report) last posted its quarterly earnings results on Thursday, April 17th. The construction company reported $2.58 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.69 by ($0.11). The firm had revenue of $7.73 billion for the quarter, compared to analyst estimates of $8.07 billion. D.R. Horton had a net margin of 12.15% and a return on equity of 16.95%. During the same period in the prior year, the company posted $3.52 earnings per share. As a group, equities research analysts predict that D.R. Horton, Inc. will post 13.04 EPS for the current year.

D.R. Horton Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Friday, May 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 1.22%. The ex-dividend date of this dividend was Friday, May 2nd. D.R. Horton's dividend payout ratio is presently 12.11%.

D.R. Horton Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.