Banque Cantonale Vaudoise Purchases New Position in D.R. Horton, Inc. (NYSE:DHI)

Key Points

• Banque Cantonale Vaudoise has acquired a new stake in D.R. Horton, purchasing 2,229 shares valued at approximately $283,000.
• D.R. Horton reported a Q2 EPS of $3.36, exceeding estimates, despite a 7.4% year-over-year revenue decline.
• The company declared a quarterly dividend of $0.40, representing an annualized dividend yield of 1.1%.

Banque Cantonale Vaudoise bought a new position in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 2,229 shares of the construction company's stock, valued at approximately $283,000.

A number of other hedge funds also recently bought and sold shares of DHI. Dimensional Fund Advisors LP raised its holdings in D.R. Horton by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,475,995 shares of the construction company's stock worth $485,984,000 after purchasing an additional 72,161 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of D.R. Horton by 15.8% during the fourth quarter. Northern Trust Corp now owns 3,375,050 shares of the construction company's stock valued at $471,899,000 after purchasing an additional 460,804 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of D.R. Horton by 21.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,677,100 shares of the construction company's stock worth $374,312,000 after buying an additional 476,816 shares during the last quarter. First Trust Advisors LP increased its position in D.R. Horton by 34.0% during the 4th quarter. First Trust Advisors LP now owns 2,133,159 shares of the construction company's stock valued at $298,258,000 after buying an additional 540,737 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in D.R. Horton by 652.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,981,609 shares of the construction company's stock valued at $252,477,000 after buying an additional 1,718,094 shares during the last quarter. Hedge funds and other institutional investors own 90.63% of the company's stock.

Insider Activity

In related 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 transaction of $274,555.00. Following the completion of the transaction, the director owned 2,193 shares in the company, valued at approximately $280,046.10. This represents a 49.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

DHI has been the subject of several analyst reports. JMP Securities reduced their price target on D.R. Horton from $210.00 to $180.00 and set a "market outperform" rating for the company in a report on Monday, April 21st. Royal Bank Of Canada lifted their target price on shares of D.R. Horton from $105.00 to $117.00 and gave the stock an "underperform" rating in a report on Wednesday, July 23rd. UBS Group upped 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 note on Wednesday, July 23rd. Wells Fargo & Company upped their price objective on D.R. Horton from $160.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Finally, BTIG Research decreased their price target on D.R. Horton from $171.00 to $150.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Their comments are based on a broader research note on Homebuilders ahead of the industry’s start of the earnings season. The firm is projecting a 7% decline in U.S. new home sales and a 27% average decline in earnings due to lower consumer confidence as a result of heightened uncertainty about the future in terms of both income/job security and cost of living along with still-relatively high interest rates. Two equities 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $153.23.

D.R. Horton Stock Performance

DHI traded down $0.74 during trading on Wednesday, hitting $154.09. The company's stock had a trading volume of 3,354,536 shares, compared to its average volume of 3,811,139. D.R. Horton, Inc. has a one year low of $110.44 and a one year high of $199.85. The business's 50 day simple moving average is $131.88 and its 200-day simple moving average 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. The firm has a market cap of $45.94 billion, a PE ratio of 12.36, a P/E/G ratio of 3.26 and a beta of 1.34.

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

D.R. Horton Announces Dividend

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

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.