D.R. Horton, Inc. $DHI Shares Sold by Corebridge Financial Inc.

Key Points

• Corebridge Financial Inc. reduced its stake in D.R. Horton, Inc. by 11.8%, owning 65,165 shares valued at approximately $8.28 million after selling 8,737 shares in the first quarter.
• D.R. Horton reported earnings of $3.36 per share, exceeding expectations of $2.90, despite a 7.4% drop in year-over-year revenue totaling $9.23 billion.
• Several equity analysts have raised their price targets for D.R. Horton, with UBS Group increasing its target from $176 to $187 and Wells Fargo raising theirs from $160 to $175.

Corebridge Financial Inc. lessened its holdings in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 11.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,165 shares of the construction company's stock after selling 8,737 shares during the period. Corebridge Financial Inc.'s holdings in D.R. Horton were worth $8,284,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Olde Wealth Management LLC bought a new position in shares of D.R. Horton in the 1st quarter worth approximately $26,000. Bayforest Capital Ltd raised its position in shares of D.R. Horton by 340.4% during the first quarter. Bayforest Capital Ltd now owns 251 shares of the construction company's stock valued at $32,000 after buying an additional 194 shares during the last quarter. Accredited Wealth Management LLC bought a new stake in D.R. Horton in the first quarter worth $34,000. Itau Unibanco Holding S.A. bought a new stake in D.R. Horton in the fourth quarter worth $43,000. Finally, Alpine Bank Wealth Management bought a new stake in D.R. Horton in the first quarter worth $61,000. Institutional investors own 90.63% of the company's stock.

Insider Buying and Selling

In other news, Director Michael R. Buchanan sold 2,150 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was 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 in the company, valued at $280,046.10. This trade represents a 49.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.54% of the company's stock.

Analyst Upgrades and Downgrades

DHI has been the subject of a number of research reports. Wall Street Zen raised shares of D.R. Horton from a "sell" rating to a "hold" rating in a research note on Sunday, July 20th. Royal Bank Of Canada upped their price objective on shares of D.R. Horton from $105.00 to $117.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods upped their price objective on shares of D.R. Horton from $135.00 to $161.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. UBS Group upped their price objective 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. Finally, Wedbush upped their price objective on shares of D.R. Horton from $155.00 to $170.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, D.R. Horton currently has an average rating of "Hold" and an average target price of $153.23.

D.R. Horton Stock Up 0.4%

Shares of DHI traded up $0.75 during mid-day trading on Friday, hitting $169.66. 2,338,261 shares of the company traded hands, compared to its average volume of 3,708,202. D.R. Horton, Inc. has a 1-year low of $110.44 and a 1-year high of $199.85. 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 company has a market capitalization of $50.58 billion, a PE ratio of 13.61, a price-to-earnings-growth ratio of 3.60 and a beta of 1.36. The business has a 50 day moving average of $147.01 and a 200 day moving average of $132.43.

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 (EPS) for the quarter, beating the consensus estimate of $2.90 by $0.46. The firm had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $8.80 billion. D.R. Horton had a net margin of 11.46% and a return on equity of 15.74%. The company's revenue for the quarter was down 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.10 earnings per share. D.R. Horton has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. Equities research analysts anticipate that D.R. Horton, Inc. will post 13.04 EPS for the current year.

D.R. Horton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.9%. The ex-dividend date was Thursday, August 7th. D.R. Horton's dividend payout ratio is currently 12.83%.

About D.R. Horton

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.