D.R. Horton, Inc. $DHI Stake Reduced by Artemis Investment Management LLP

Key Points

• Artemis Investment Management LLP cut its D.R. Horton stake by 53.4% in the third quarter, selling 37,153 shares and retaining 32,371 shares valued at approximately $4.42 million. Institutional investors collectively own 90.63% of the company.
• Analyst sentiment is cautious: D.R. Horton has an average “Hold” rating, with 11 Holds, five Buys and one Sell, and a consensus price target of $159.36 versus the stock’s reported $135.81 price.
• D.R. Horton exceeded quarterly expectations with $3.20 in earnings per share and $9.23 billion in revenue, while maintaining a quarterly dividend of $0.45, equivalent to a 1.3% annual yield.

Artemis Investment Management LLP reduced its position in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 53.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,371 shares of the construction company's stock after selling 37,153 shares during the quarter. Artemis Investment Management LLP's holdings in D.R. Horton were worth $4,423,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Fiduciary Financial Advisors purchased a new stake in shares of D.R. Horton in the 2nd quarter valued at about $25,000. Caitlin John LLC acquired a new position in D.R. Horton during the second quarter worth approximately $25,000. Osbon Capital Management LLC purchased a new stake in D.R. Horton in the fourth quarter valued at approximately $26,000. Compass Financial Management LLC acquired a new stake in shares of D.R. Horton in the second quarter valued at approximately $31,000. Finally, Elevation Wealth Partners LLC grew its position in shares of D.R. Horton by 283.1% during the third quarter. Elevation Wealth Partners LLC now owns 226 shares of the construction company's stock worth $31,000 after acquiring an additional 167 shares during the last quarter. Institutional investors own 90.63% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada reissued a "mixed" rating on shares of D.R. Horton in a research report on Wednesday, July 22nd. Truist Financial dropped their price objective on shares of D.R. Horton from $150.00 to $140.00 and set a "hold" rating on the stock in a research note on Wednesday, September 16th. Keefe, Bruyette & Woods decreased their target price on shares of D.R. Horton from $167.00 to $160.00 and set a "market perform" rating for the company in a research note on Tuesday, September 22nd. Melius Research started coverage on shares of D.R. Horton in a report on Tuesday. They set a "sell" rating and a $128.00 price target for the company. Finally, Morgan Stanley began coverage on shares of D.R. Horton in a research note on Thursday, October 1st. They set an "equal weight" rating and a $151.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, D.R. Horton presently has an average rating of "Hold" and a consensus price target of $159.36.

D.R. Horton Price Performance

Shares of DHI stock opened at $135.81 on Friday. The company has a quick ratio of 1.04, a current ratio of 6.43 and a debt-to-equity ratio of 0.29. The business's fifty day moving average is $143.01 and its 200 day moving average is $146.52. The stock has a market cap of $37.99 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 1.92 and a beta of 1.35. D.R. Horton, Inc. has a twelve month low of $131.75 and a twelve month high of $170.79.

D.R. Horton (NYSE:DHI - Get Free Report) last released its earnings results on Tuesday, July 21st. The construction company reported $3.20 EPS for the quarter, topping the consensus estimate of $3.02 by $0.18. D.R. Horton had a return on equity of 12.47% and a net margin of 9.15%.The business had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same period in the previous year, the company posted $3.36 earnings per share. The company's revenue for the quarter was up .0% compared to the same quarter last year. Research analysts expect that D.R. Horton, Inc. will post 10.43 EPS for the current fiscal year.

D.R. Horton Dividend Announcement

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

About D.R. Horton

D.R. Horton, Inc is one of the largest homebuilding companies in the United States. Founded in 1978 by Donald R. Horton, the company develops and constructs single-family homes, townhomes and other residential properties for a range of buyers, including first-time, move-up and active-adult households.

The company operates through several homebuilding brands, including D.R. Horton, Express Homes, Emerald Homes and Freedom Homes. Its offerings generally span entry-level and affordable homes, move-up residences, luxury properties and age-qualified communities.

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