D.R. Horton, Inc. (NYSE:DHI) Shares Sold by Commerce Bank

Key Points

• Commerce Bank reduced its stake in D.R. Horton by 3.2%, selling 2,111 shares, leaving them with shares worth $8,133,000 at the end of the quarter.
• Significant increases in holdings were observed by several institutional investors, with Allspring Global Investments increasing its stake by 652% and Pacer Advisors by 4,630% in the same quarter.
• D.R. Horton reported quarterly earnings of $3.36 per share, exceeding analysts' estimates, with revenue of $9.23 billion despite a 7.4% decline compared to the previous year.

Commerce Bank lowered its stake in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 3.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,973 shares of the construction company's stock after selling 2,111 shares during the quarter. Commerce Bank's holdings in D.R. Horton were worth $8,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DHI. Olde Wealth Management LLC purchased a new position in shares of D.R. Horton in the first quarter worth about $26,000. Bayforest Capital Ltd grew its holdings in D.R. Horton by 340.4% in the first quarter. Bayforest Capital Ltd now owns 251 shares of the construction company's stock valued at $32,000 after purchasing an additional 194 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in D.R. Horton in the fourth quarter valued at approximately $43,000. Oarsman Capital Inc. boosted its stake in shares of D.R. Horton by 146.7% in the fourth quarter. Oarsman Capital Inc. now owns 333 shares of the construction company's stock worth $46,000 after acquiring an additional 198 shares during the last quarter. Finally, Alpine Bank Wealth Management acquired a new stake in shares of D.R. Horton in the first quarter worth approximately $61,000. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on DHI shares. JPMorgan Chase & Co. lowered their price objective on D.R. Horton from $132.00 to $111.00 and set an "underweight" rating on the stock in a research note on Monday, April 21st. Wedbush boosted their target price on D.R. Horton from $155.00 to $170.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. BTIG Research decreased their target price on D.R. Horton from $171.00 to $150.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Their comments are based on a broader research note on Homebuilders ahead of the industry’s start of the earnings season. The firm is projecting a 7% decline in U.S. new home sales and a 27% average decline in earnings due to lower consumer confidence as a result of heightened uncertainty about the future in terms of both income/job security and cost of living along with still-relatively high interest rates. Bank of America decreased their target price on D.R. Horton from $150.00 to $125.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Softer demand and elevated incentives impacting outlook through H2 2025 Finally, Wells Fargo & Company upped their price objective on D.R. Horton from $160.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, D.R. Horton currently has an average rating of "Hold" and a consensus target price of $153.23.

Insider Activity

In other news, Director Michael R. Buchanan sold 2,150 shares of D.R. Horton stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $127.70, for a total transaction of $274,555.00. Following the sale, the director directly owned 2,193 shares of the company's stock, valued at approximately $280,046.10. The trade was a 49.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.54% of the company's stock.

D.R. Horton Trading Down 0.1%

Shares of DHI stock traded down $0.18 during mid-day trading on Wednesday, hitting $154.65. 401,975 shares of the company's stock were exchanged, compared to its average volume of 3,789,988. D.R. Horton, Inc. has a fifty-two week low of $110.44 and a fifty-two week high of $199.85. The stock has a 50-day simple moving average of $131.88 and a two-hundred day simple moving average of $129.43. The company has a quick ratio of 1.19, a current ratio of 7.06 and a debt-to-equity ratio of 0.29. The stock has a market cap of $46.10 billion, a price-to-earnings ratio of 12.39, a PEG ratio of 3.26 and a beta of 1.34.

D.R. Horton (NYSE:DHI - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The construction company reported $3.36 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $9.23 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same period last year, the company posted $4.10 EPS. The business's quarterly revenue was down 7.4% on a year-over-year basis. Equities analysts expect that D.R. Horton, Inc. will post 13.04 EPS for the current fiscal year.

D.R. Horton Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 7th. D.R. Horton's payout ratio is presently 12.83%.

About D.R. Horton

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.