D.R. Horton, Inc. (NYSE:DHI) Shares Purchased by Bank of Nova Scotia

Key Points

• Bank of Nova Scotia increased its stake in D.R. Horton by 131.0%, acquiring an additional 193,706 shares, bringing its total holdings to 341,588 shares valued at approximately $43.4 million.
• D.R. Horton recently announced earnings of $3.36 per share, significantly surpassing the consensus estimate of $2.90, despite a 7.4% year-over-year decline in revenue.
• The company declared a quarterly dividend of $0.40 per share, which reflects a low dividend payout ratio of 12.83% and an annualized yield of 1.1%.

Bank of Nova Scotia grew its position in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 131.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 341,588 shares of the construction company's stock after buying an additional 193,706 shares during the quarter. Bank of Nova Scotia owned 0.11% of D.R. Horton worth $43,426,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Olde Wealth Management LLC acquired a new position in D.R. Horton during the first quarter valued at $26,000. Bayforest Capital Ltd lifted its holdings in shares of D.R. Horton by 340.4% in the first quarter. Bayforest Capital Ltd now owns 251 shares of the construction company's stock valued at $32,000 after purchasing an additional 194 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new stake in shares of D.R. Horton in the fourth quarter valued at about $43,000. Oarsman Capital Inc. increased its position in D.R. Horton by 146.7% during the fourth quarter. Oarsman Capital Inc. now owns 333 shares of the construction company's stock worth $46,000 after buying an additional 198 shares during the last quarter. Finally, Alpine Bank Wealth Management bought a new stake in shares of D.R. Horton in the first quarter valued at approximately $61,000. 90.63% of the stock is owned by institutional investors and hedge funds.

D.R. Horton Price Performance

NYSE DHI traded up $0.53 on Wednesday, reaching $155.36. The company had a trading volume of 631,462 shares, compared to its average volume of 3,792,161. D.R. Horton, Inc. has a 12 month low of $110.44 and a 12 month high of $199.85. The stock has a market capitalization of $46.32 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 3.26 and a beta of 1.34. The firm's 50 day moving average price is $131.88 and its 200 day moving average price is $129.43. The company has a quick ratio of 1.19, a current ratio of 7.06 and a debt-to-equity ratio of 0.29.

D.R. Horton (NYSE:DHI - Get Free Report) last released its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.36 EPS for the quarter, topping analysts' consensus estimates of $2.90 by $0.46. D.R. Horton had a net margin of 11.46% and a return on equity of 15.74%. The firm had revenue of $9.23 billion during the quarter, compared to analysts' expectations of $8.80 billion. During the same period in the previous year, the company earned $4.10 EPS. The firm's revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, equities analysts predict that D.R. Horton, Inc. will post 13.04 earnings per share for the current year.

D.R. Horton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, August 7th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Thursday, August 7th. D.R. Horton's payout ratio is 12.83%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Barclays decreased their price objective on D.R. Horton from $120.00 to $110.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Royal Bank Of Canada raised their target price on D.R. Horton from $105.00 to $117.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. Wells Fargo & Company lifted their price target on D.R. Horton from $160.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. UBS Group lifted their target price on shares of D.R. Horton from $176.00 to $187.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of D.R. Horton from $132.00 to $111.00 and set an "underweight" rating on the stock in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $153.23.

Insider Activity at D.R. Horton

In other news, Director Michael R. Buchanan sold 2,150 shares of the company's stock in a transaction on Tuesday, June 24th. The shares were 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 represents a 49.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is currently owned by company insiders.

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.