Argent Trust Co Sells 2,302 Shares of D.R. Horton, Inc. (NYSE:DHI)

Key Points

• Argent Trust Co decreased its holdings in D.R. Horton by 7.9%, lowering its ownership to 26,994 shares worth approximately $3.43 million.
• D.R. Horton reported $3.36 earnings per share for the last quarter, exceeding analysts' expectations of $2.90, despite a 7.4% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.40 per share, equating to an annualized dividend of $1.60 and a yield of 1.1%.

Argent Trust Co reduced its position in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 7.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,994 shares of the construction company's stock after selling 2,302 shares during the quarter. Argent Trust Co's holdings in D.R. Horton were worth $3,432,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of DHI. Olde Wealth Management LLC purchased a new position in D.R. Horton in the first quarter worth $26,000. Bayforest Capital Ltd lifted its position in D.R. Horton by 340.4% during the 1st quarter. Bayforest Capital Ltd now owns 251 shares of the construction company's stock worth $32,000 after acquiring an additional 194 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in D.R. Horton during the 4th quarter worth approximately $43,000. Oarsman Capital Inc. raised its position in shares of D.R. Horton by 146.7% in the 4th quarter. Oarsman Capital Inc. now owns 333 shares of the construction company's stock valued at $46,000 after purchasing an additional 198 shares in the last quarter. Finally, Alpine Bank Wealth Management acquired a new position in shares of D.R. Horton in the 1st quarter valued at approximately $61,000. 90.63% of the stock is owned by institutional investors and hedge funds.

D.R. Horton Stock Performance

NYSE:DHI traded up $1.80 during mid-day trading on Tuesday, hitting $155.08. 3,725,433 shares of the company's stock traded hands, compared to its average volume of 5,093,742. The firm has a 50 day moving average of $131.20 and a two-hundred day moving average of $129.25. D.R. Horton, Inc. has a 12 month low of $110.44 and a 12 month high of $199.85. The firm has a market capitalization of $46.23 billion, a price-to-earnings ratio of 12.44, a price-to-earnings-growth ratio of 3.26 and a beta of 1.34. The company has a current ratio of 7.06, a quick ratio of 1.19 and a debt-to-equity ratio of 0.29.

D.R. Horton (NYSE:DHI - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.36 EPS for the quarter, topping analysts' consensus estimates of $2.90 by $0.46. D.R. Horton had a return on equity of 15.74% and a net margin of 11.46%. The company had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $8.80 billion. During the same quarter last year, the company earned $4.10 EPS. The company's quarterly revenue was down 7.4% on a year-over-year basis. On average, equities analysts forecast that D.R. Horton, Inc. will post 13.04 earnings per share for the current fiscal year.

D.R. Horton Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th will be given a $0.40 dividend. The ex-dividend date is Thursday, August 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. D.R. Horton's dividend payout ratio (DPR) is currently 12.83%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on DHI. Keefe, Bruyette & Woods boosted their price target on D.R. Horton from $135.00 to $161.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. Royal Bank Of Canada set a $117.00 price objective on D.R. Horton and gave the company an "underperform" rating in a report on Wednesday, July 23rd. JPMorgan Chase & Co. reduced their target price on D.R. Horton from $132.00 to $111.00 and set an "underweight" rating for the company in a report on Monday, April 21st. Wells Fargo & Company upped their target price on D.R. Horton from $160.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen raised D.R. Horton from a "sell" rating to a "hold" rating in a research report on Sunday, July 20th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $153.23.

Insider Activity at D.R. Horton

In other D.R. Horton news, Director Michael R. Buchanan sold 2,150 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $127.70, for a total value of $274,555.00. Following the completion of the sale, the director owned 2,193 shares in the company, valued at approximately $280,046.10. This trade represents a 49.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company's stock.

D.R. Horton Company 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.