Corient Private Wealth LP Sells 27,323 Shares of D.R. Horton, Inc. $DHI

Key Points

• Corient Private Wealth reduced its D.R. Horton stake by 28.7% in the second quarter, selling 27,323 shares and retaining 67,821 shares valued at approximately $11.05 million.
• Analyst sentiment remains mixed, with five Buy ratings and ten Hold ratings. The consensus rating is Hold, with an average price target of $165.25.
• D.R. Horton reported quarterly earnings of $3.20 per share, exceeding estimates of $3.02, while revenue reached $9.23 billion. The company also maintained a quarterly dividend of $0.45 per share, equal to a 1.3% annualized yield.

Corient Private Wealth LP lessened its holdings in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 28.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,821 shares of the construction company's stock after selling 27,323 shares during the quarter. Corient Private Wealth LP's holdings in D.R. Horton were worth $11,047,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in DHI. Capital World Investors increased its holdings in shares of D.R. Horton by 22.1% in the fourth quarter. Capital World Investors now owns 36,948,434 shares of the construction company's stock worth $5,321,849,000 after buying an additional 6,695,592 shares during the period. BlackRock Inc. purchased a new stake in D.R. Horton during the 2nd quarter valued at about $4,067,842,000. Capital Research Global Investors boosted its holdings in D.R. Horton by 0.3% during the 4th quarter. Capital Research Global Investors now owns 4,647,088 shares of the construction company's stock valued at $669,330,000 after acquiring an additional 13,155 shares during the period. Norges Bank bought a new position in D.R. Horton during the 4th quarter worth approximately $649,305,000. Finally, Bank of America Corp DE increased its stake in D.R. Horton by 10.7% in the 1st quarter. Bank of America Corp DE now owns 3,226,686 shares of the construction company's stock worth $442,766,000 after purchasing an additional 312,303 shares during the period. 90.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on DHI shares. Barclays boosted their price objective on D.R. Horton from $140.00 to $141.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 14th. Keefe, Bruyette & Woods decreased their target price on shares of D.R. Horton from $175.00 to $167.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 22nd. The Goldman Sachs Group reiterated a "buy" rating on shares of D.R. Horton in a report on Tuesday, July 21st. Truist Financial dropped their price target on shares of D.R. Horton from $150.00 to $140.00 and set a "hold" rating for the company in a research report on Wednesday. Finally, Zelman & Associates raised shares of D.R. Horton from a "neutral" rating to an "outperform" rating in a report on Tuesday, July 7th. Five investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $165.25.

D.R. Horton Price Performance

Shares of DHI stock opened at $137.92 on Thursday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.04 and a current ratio of 6.43. D.R. Horton, Inc. has a fifty-two week low of $131.75 and a fifty-two week high of $177.58. The firm has a market cap of $38.58 billion, a P/E ratio of 13.12, a P/E/G ratio of 2.23 and a beta of 1.37. The business's 50 day moving average price is $146.11 and its 200-day moving average price is $147.33.

D.R. Horton (NYSE:DHI - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The construction company reported $3.20 earnings per share for the quarter, beating the consensus estimate of $3.02 by $0.18. D.R. Horton had a net margin of 9.15% and a return on equity of 12.47%. The business had revenue of $9.23 billion for the quarter, compared to analysts' expectations of $9.10 billion. During the same quarter in the previous year, the business posted $3.36 earnings per share. The firm's revenue for the quarter was up .0% compared to the same quarter last year. On average, equities research analysts anticipate that D.R. Horton, Inc. will post 10.45 earnings per share for the current year.

D.R. Horton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th were given a $0.45 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.80 annualized dividend and a dividend yield of 1.3%. D.R. Horton's dividend payout ratio is currently 17.13%.

D.R. Horton Profile

D.R. Horton, Inc is a residential home construction company that designs, builds and sells single-family homes and townhomes in the United States. Its homes are offered under brands including D.R. Horton, Emerald Homes, Express and Freedom Homes, serving a range of buyers from entry-level and first-time purchasers to move-up and active-adult customers.

In addition to homebuilding, the company operates businesses that support the residential real estate process. These include mortgage financing through DHI Mortgage, title services through DHI Title, and insurance-related services.

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