D.R. Horton, Inc. $DHI Stock: Lyell Wealth Management LP Trims Stake

Key Points

• Lyell Wealth Management cut its D.R. Horton stake by 7.6% in the third quarter, selling 9,634 shares and retaining 116,786 shares valued at about $15.96 million.
• Analyst sentiment is mixed but averages to “Hold”: five analysts rate the stock Buy, 12 Hold, and four Sell, with a mean price target of $151.33.
• D.R. Horton’s latest quarterly earnings missed estimates, while revenue exceeded forecasts but fell 3.2% year over year; the company also raised its quarterly dividend from $0.45 to $0.50 per share.

Lyell Wealth Management LP lessened its stake in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 7.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 116,786 shares of the construction company's stock after selling 9,634 shares during the quarter. Lyell Wealth Management LP's holdings in D.R. Horton were worth $15,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of D.R. Horton during the third quarter valued at approximately $10,427,000. Cidel Asset Management Inc. raised its holdings in D.R. Horton by 12.3% in the 3rd quarter. Cidel Asset Management Inc. now owns 4,676 shares of the construction company's stock worth $639,000 after acquiring an additional 513 shares during the last quarter. Unison Advisors LLC lifted its position in D.R. Horton by 0.3% in the 3rd quarter. Unison Advisors LLC now owns 39,398 shares of the construction company's stock valued at $5,384,000 after acquiring an additional 115 shares in the last quarter. Greatmark Investment Partners Inc. bought a new position in D.R. Horton in the 3rd quarter valued at approximately $228,000. Finally, Verdence Capital Advisors LLC boosted its stake in D.R. Horton by 12.7% during the 3rd quarter. Verdence Capital Advisors LLC now owns 18,513 shares of the construction company's stock valued at $2,530,000 after purchasing an additional 2,086 shares during the last quarter. Institutional investors own 90.63% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on DHI. BTIG Research reissued a "buy" rating and issued a $174.00 target price (down from $184.00) on shares of D.R. Horton in a report on Tuesday, September 22nd. Raymond James Financial downgraded D.R. Horton from a "market perform" rating to an "underperform" rating in a report on Tuesday. Morgan Stanley dropped their price objective on D.R. Horton from $151.00 to $130.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Bank of America reduced their price objective on D.R. Horton from $150.00 to $145.00 in a report on Wednesday, October 7th. Finally, Keefe, Bruyette & Woods decreased their target price on D.R. Horton from $160.00 to $152.00 in a research report on Thursday, October 22nd. Five analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, D.R. Horton has an average rating of "Hold" and an average target price of $151.33.

D.R. Horton Trading Down 5.3%

NYSE:DHI opened at $144.85 on Wednesday. D.R. Horton, Inc. has a one year low of $130.40 and a one year high of $170.79. The business has a fifty day moving average price of $140.77 and a 200-day moving average price of $147.59. The firm has a market capitalization of $40.52 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 1.71 and a beta of 1.35. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.01 and a quick ratio of 0.95.

D.R. Horton (NYSE:DHI - Get Free Report) last released its earnings results on Thursday, October 29th. The construction company reported $2.67 earnings per share for the quarter, missing the consensus estimate of $3.01 by ($0.34). D.R. Horton had a net margin of 8.74% and a return on equity of 11.93%. The company had revenue of $9.37 billion for the quarter, compared to analysts' expectations of $9.07 billion. During the same quarter last year, the firm posted $3.04 earnings per share. D.R. Horton's revenue for the quarter was down 3.2% on a year-over-year basis. Sell-side analysts forecast that D.R. Horton, Inc. will post 10.92 EPS for the current year.

D.R. Horton Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 12th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, November 12th. This is an increase from D.R. Horton's previous quarterly dividend of $0.45. D.R. Horton's payout ratio is presently 17.75%.

D.R. Horton Company Profile

D.R. Horton, Inc is a residential construction company that builds and sells single-family detached and attached homes in the United States. Its offerings include entry-level, move-up, luxury and active-adult housing, serving a range of homebuyers through brands such as D.R. Horton, Express Homes, Emerald Homes and Freedom Homes.

The company's operations also include land acquisition and development, home financing and title services. Through subsidiaries and affiliated businesses, D.R.

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