Concurrent Investment Advisors LLC lowered its stake in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 37.0% 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 6,487 shares of the construction company's stock after selling 3,803 shares during the quarter. Concurrent Investment Advisors LLC's holdings in D.R. Horton were worth $825,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in DHI. Geode Capital Management LLC boosted its holdings in D.R. Horton by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 7,235,518 shares of the construction company's stock worth $1,009,077,000 after acquiring an additional 127,606 shares in the last quarter. Norges Bank purchased a new position in shares of D.R. Horton in the fourth quarter worth about $593,363,000. Franklin Resources Inc. raised its stake in shares of D.R. Horton by 71.5% in the fourth quarter. Franklin Resources Inc. now owns 3,574,409 shares of the construction company's stock worth $499,774,000 after purchasing an additional 1,490,648 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of D.R. Horton by 2.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,475,995 shares of the construction company's stock worth $485,984,000 after purchasing an additional 72,161 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of D.R. Horton by 15.8% in the fourth quarter. Northern Trust Corp now owns 3,375,050 shares of the construction company's stock worth $471,899,000 after purchasing an additional 460,804 shares during the last quarter. Institutional investors own 90.63% of the company's stock.
D.R. Horton Trading Down 2.0%
NYSE DHI traded down $2.83 on Friday, reaching $136.79. 4,065,493 shares of the company were exchanged, compared to its average volume of 3,166,632. The business's fifty day moving average price is $125.12 and its 200 day moving average price is $129.31. The stock has a market capitalization of $42.02 billion, a P/E ratio of 10.36, a price-to-earnings-growth ratio of 4.36 and a beta of 1.38. The company has a current ratio of 7.29, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. D.R. Horton, Inc. has a fifty-two week low of $110.44 and a fifty-two week high of $199.85.
D.R. Horton (NYSE:DHI - Get Free Report) last posted its earnings results on Thursday, April 17th. The construction company reported $2.58 EPS for the quarter, missing analysts' consensus estimates of $2.69 by ($0.11). D.R. Horton had a net margin of 12.15% and a return on equity of 16.95%. The business had revenue of $7.73 billion during the quarter, compared to analysts' expectations of $8.07 billion. During the same quarter in the prior year, the firm earned $3.52 EPS. Analysts forecast that D.R. Horton, Inc. will post 13.04 earnings per share for the current year.
D.R. Horton Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, May 2nd were issued a $0.40 dividend. The ex-dividend date was Friday, May 2nd. This represents a $1.60 annualized dividend and a dividend yield of 1.17%. D.R. Horton's dividend payout ratio is presently 12.11%.
Insider Activity
In other D.R. Horton news, Director Michael R. Buchanan sold 2,150 shares of the company's 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 owned 2,193 shares in the company, valued at $280,046.10. This represents a 49.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.54% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the company. Barclays reduced their price objective on D.R. Horton from $120.00 to $110.00 and set an "equal weight" rating for the company in a research note on Monday, April 21st. BTIG Research reduced their price target 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. The Goldman Sachs Group reduced their price target on D.R. Horton from $173.00 to $150.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. JMP Securities reduced their price target on D.R. Horton from $210.00 to $180.00 and set a "market outperform" rating for the company in a research report on Monday, April 21st. Finally, Royal Bank Of Canada reduced their price target on D.R. Horton from $125.00 to $105.00 and set an "underperform" rating for the company in a research report on Monday, April 21st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $151.15.
Check Out Our Latest Report on D.R. Horton
D.R. Horton Profile
(
Free Report)
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.
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