D.R. Horton, Inc. $DHI Stock Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lessened its stake in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 23.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 550,382 shares of the construction company's stock after selling 166,261 shares during the quarter. Pictet Asset Management Holding SA owned about 0.20% of D.R. Horton worth $75,251,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DHI. BlackRock Inc. purchased a new position in shares of D.R. Horton during the second quarter worth about $4,067,842,000. Bank of America Corp DE acquired a new stake in shares of D.R. Horton during the second quarter worth about $477,358,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of D.R. Horton by 4.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,903,786 shares of the construction company's stock valued at $472,969,000 after purchasing an additional 122,434 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of D.R. Horton by 0.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,081,672 shares of the construction company's stock valued at $422,734,000 after purchasing an additional 21,514 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of D.R. Horton by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 2,155,581 shares of the construction company's stock valued at $295,789,000 after purchasing an additional 48,723 shares during the period. Institutional investors and hedge funds own 90.63% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods dropped their price target on D.R. Horton from $160.00 to $152.00 in a research note on Thursday, October 22nd. Weiss Ratings cut D.R. Horton from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, November 2nd. Wells Fargo & Company decreased their price objective on D.R. Horton from $145.00 to $140.00 and set an "equal weight" rating for the company in a report on Friday, October 16th. Truist Financial decreased their price objective on D.R. Horton from $150.00 to $140.00 and set a "hold" rating for the company in a report on Wednesday, September 16th. Finally, Morgan Stanley lowered their target price on shares of D.R. Horton from $151.00 to $130.00 and set an "equal weight" rating on the stock in a research report on Tuesday, November 3rd. Five research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat.com, D.R. Horton presently has a consensus rating of "Hold" and a consensus price target of $151.33.

D.R. Horton Price Performance

D.R. Horton stock opened at $155.52 on Tuesday. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.01 and a quick ratio of 0.95. The business has a 50 day simple moving average of $141.35 and a 200-day simple moving average of $147.55. D.R. Horton, Inc. has a 12 month low of $130.40 and a 12 month high of $170.79. The stock has a market capitalization of $43.50 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 1.81 and a beta of 1.35.

D.R. Horton (NYSE:DHI - Get Free Report) last posted its quarterly earnings data on Thursday, October 29th. The construction company reported $2.67 earnings per share for the quarter, missing analysts' consensus estimates of $3.01 by ($0.34). The firm had revenue of $9.37 billion during the quarter, compared to analysts' expectations of $9.07 billion. D.R. Horton had a net margin of 8.74% and a return on equity of 11.93%. The business's quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the business earned $3.04 earnings per share. Equities analysts predict that D.R. Horton, Inc. will post 10.62 earnings per share for the current year.

D.R. Horton Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 19th. Stockholders of record on Thursday, November 12th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. This is a positive change from D.R. Horton's previous quarterly dividend of $0.45. The ex-dividend date is Thursday, November 12th. D.R. Horton's dividend payout ratio (DPR) is presently 17.75%.

About D.R. Horton

D.R. Horton, Inc is a U.S. homebuilder founded in 1978 by Donald R. Horton. Headquartered in Arlington, Texas, the company builds and sells homes in markets across the United States.

Its homebuilding business offers single-family homes and townhomes for buyers with a range of needs and budgets. D.R. Horton markets homes under brands including D.R. Horton, Express, Emerald and Freedom, which serves active-adult buyers.

The company also provides mortgage financing and title services to homebuyers through its financial-services operations, and has a home-rental business.

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