DAVENPORT & Co LLC Grows Stock Holdings in D.R. Horton, Inc. $DHI

Key Points

• DAVENPORT & Co LLC increased its stake in D.R. Horton by 315.5% in the second quarter, now owning over 31,000 shares valued at approximately $4 million.
• During the first quarter, several major investors made significant additions to their D.R. Horton holdings, with Allspring Global Investments increasing its stake by 652.0% and Pacer Advisors by 4,630.6%.
• D.R. Horton reported $3.36 EPS for the most recent quarter, exceeding analyst expectations, despite a 7.4% year-over-year decline in revenue.

DAVENPORT & Co LLC grew its holdings in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 315.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 31,056 shares of the construction company's stock after purchasing an additional 23,582 shares during the period. DAVENPORT & Co LLC's holdings in D.R. Horton were worth $4,004,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in DHI. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 purchasing an additional 1,718,094 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of D.R. Horton by 4,630.6% during the first quarter. Pacer Advisors Inc. now owns 1,691,056 shares of the construction company's stock valued at $214,984,000 after purchasing an additional 1,655,309 shares during the last quarter. Amundi lifted its holdings in shares of D.R. Horton by 60.2% during the first quarter. Amundi now owns 2,176,211 shares of the construction company's stock valued at $266,811,000 after purchasing an additional 817,998 shares during the last quarter. Nuveen LLC purchased a new position in D.R. Horton in the 1st quarter worth approximately $98,382,000. Finally, Vanguard Group Inc. raised its holdings in D.R. Horton by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 33,664,013 shares of the construction company's stock worth $4,279,706,000 after acquiring an additional 642,642 shares during the last quarter. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

D.R. Horton Price Performance

Shares of DHI stock opened at $158.56 on Thursday. 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 company has a market capitalization of $47.27 billion, a P/E ratio of 12.72, a P/E/G ratio of 3.34 and a beta of 1.40. The company's 50-day simple moving average is $166.94 and its two-hundred day simple moving average is $140.58. D.R. Horton, Inc. has a one year low of $110.44 and a one year high of $195.50.

D.R. Horton (NYSE:DHI - Get Free Report) last issued its 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. The business 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 period in the prior year, the firm earned $4.10 EPS. D.R. Horton has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. As a group, equities analysts anticipate that D.R. Horton, Inc. will post 13.04 EPS for the current year.

D.R. Horton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Thursday, August 7th. D.R. Horton's dividend payout ratio is currently 12.83%.

Insiders Place Their Bets

In other news, Director Michael R. Buchanan sold 1,000 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $180.74, for a total transaction of $180,740.00. Following the transaction, the director directly owned 1,193 shares in the company, valued at approximately $215,622.82. This trade represents a 45.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Aron M. Odom sold 1,376 shares of the stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $183.00, for a total transaction of $251,808.00. Following the transaction, the senior vice president owned 6,457 shares in the company, valued at approximately $1,181,631. This represents a 17.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,376 shares of company stock worth $5,898,848 in the last three months. Corporate insiders own 0.54% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on DHI. Evercore ISI set a $169.00 price objective on shares of D.R. Horton and gave the stock an "in-line" rating in a report on Tuesday. Wedbush boosted their price objective on shares of D.R. Horton from $155.00 to $170.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Bank of America boosted their price objective on shares of D.R. Horton from $155.00 to $175.00 and gave the stock a "neutral" rating in a report on Thursday, September 18th. Royal Bank Of Canada boosted their price objective 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. Finally, Citigroup boosted their price objective on shares of D.R. Horton from $162.00 to $175.00 and gave the stock a "neutral" rating in a report on Wednesday, October 1st. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $157.31.

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.

Want to see what other hedge funds are holding DHI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for D.R. Horton, Inc. (NYSE:DHI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.