D.R. Horton, Inc. (NYSE:DHI) Shares Bought by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in D.R. Horton by 2.1%, acquiring an additional 38,650 shares, bringing its total ownership to 1,897,164 shares valued at approximately $241 million.
• D.R. Horton reported earnings of $3.36 per share in its latest quarter, surpassing analyst estimates of $2.90, although its revenue decreased by 7.4% from the previous year.
• The company declared a quarterly dividend of $0.40 per share, to be paid on August 14, representing an annualized dividend yield of 1.0%.

Charles Schwab Investment Management Inc. grew its holdings in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 2.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,897,164 shares of the construction company's stock after buying an additional 38,650 shares during the period. Charles Schwab Investment Management Inc. owned 0.62% of D.R. Horton worth $241,186,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in DHI. Olde Wealth Management LLC purchased a new stake in D.R. Horton during the first quarter valued at approximately $26,000. Bayforest Capital Ltd increased its holdings in D.R. Horton by 340.4% during the 1st quarter. Bayforest Capital Ltd now owns 251 shares of the construction company's stock worth $32,000 after purchasing an additional 194 shares during the period. Itau Unibanco Holding S.A. purchased a new position in D.R. Horton during the 4th quarter worth $43,000. Alpine Bank Wealth Management acquired a new stake in shares of D.R. Horton in the 1st quarter worth $61,000. Finally, Continuum Advisory LLC grew its stake in D.R. Horton by 25.8% during the 4th quarter. Continuum Advisory LLC now owns 487 shares of the construction company's stock worth $68,000 after buying an additional 100 shares during the last quarter. 90.63% of the stock is owned by institutional investors.

D.R. Horton Stock Up 2.2%

NYSE DHI traded up $3.46 during trading hours on Tuesday, hitting $158.42. The company had a trading volume of 2,855,050 shares, compared to its average volume of 4,718,789. D.R. Horton, Inc. has a fifty-two week low of $110.44 and a fifty-two week high of $199.85. The company has a market capitalization of $47.23 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 3.29 and a beta of 1.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.06 and a quick ratio of 1.19. The firm's 50 day moving average is $135.66 and its 200 day moving average is $129.79.

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

D.R. Horton Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Michael R. Buchanan sold 2,150 shares of the stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $127.70, for a total transaction of $274,555.00. Following the transaction, the director owned 2,193 shares of the company's stock, valued at approximately $280,046.10. This trade represents a 49.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.54% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. JPMorgan Chase & Co. cut their price objective on D.R. Horton from $132.00 to $111.00 and set an "underweight" rating for the company in a research note on Monday, April 21st. UBS Group raised their price target on D.R. Horton from $176.00 to $187.00 and gave the stock a "buy" rating in a research report on Wednesday, July 23rd. Keefe, Bruyette & Woods raised their price target on D.R. Horton from $135.00 to $161.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. 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. Finally, BTIG Research cut their price target on D.R. Horton from $171.00 to $150.00 and set a "buy" rating on the stock 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 analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $153.23.

D.R. Horton 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.