Raiffeisen Bank International AG Cuts Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Key Points

• Raiffeisen Bank International AG has significantly reduced its stake in D.R. Horton, cutting its holdings by 81.5% to just 680 shares worth $86,000.
• Analysts from firms like Goldman Sachs and Bank of America have lowered their price targets for D.R. Horton shares, reflecting caution amid softer demand.
• D.R. Horton announced a quarterly dividend of $0.40 per share, translating to an annualized dividend yield of 1.0% for investors.

Raiffeisen Bank International AG decreased its holdings in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 81.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 680 shares of the construction company's stock after selling 3,001 shares during the period. Raiffeisen Bank International AG's holdings in D.R. Horton were worth $86,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Olde Wealth Management LLC bought a new position in D.R. Horton in the 1st quarter worth about $26,000. Bayforest Capital Ltd lifted its stake in shares of D.R. Horton by 340.4% in the first quarter. Bayforest Capital Ltd now owns 251 shares of the construction company's stock worth $32,000 after buying an additional 194 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new stake in shares of D.R. Horton during the fourth quarter valued at approximately $43,000. Alpine Bank Wealth Management bought a new stake in shares of D.R. Horton during the first quarter valued at approximately $61,000. Finally, Continuum Advisory LLC increased its position in shares of D.R. Horton by 25.8% during the fourth quarter. Continuum Advisory LLC now owns 487 shares of the construction company's stock valued at $68,000 after acquiring an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 90.63% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. The Goldman Sachs Group decreased their price target on D.R. Horton from $173.00 to $150.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Keefe, Bruyette & Woods upped their target price on shares of D.R. Horton from $135.00 to $161.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Royal Bank Of Canada lifted their price target on shares of D.R. Horton from $105.00 to $117.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 23rd. BTIG Research decreased their price objective on shares of D.R. Horton from $171.00 to $150.00 and set a "buy" rating for the company in a 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. Finally, Wedbush raised their target price on shares of D.R. Horton from $155.00 to $170.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $153.23.

D.R. Horton Stock Performance

DHI stock traded down $0.08 during midday trading on Thursday, reaching $153.98. The stock had a trading volume of 2,440,318 shares, compared to its average volume of 5,017,818. D.R. Horton, Inc. has a 52-week low of $110.44 and a 52-week high of $199.85. The stock has a market cap of $45.91 billion, a PE ratio of 12.35, a P/E/G ratio of 3.27 and a beta of 1.34. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.19 and a current ratio of 7.06. The firm has a fifty day simple moving average of $132.61 and a two-hundred day simple moving average of $129.60.

D.R. Horton (NYSE:DHI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.90 by $0.46. D.R. Horton had a net margin of 11.46% and a return on equity of 15.74%. The company had revenue of $9.23 billion during the quarter, compared to analyst estimates of $8.80 billion. During the same period last year, the firm posted $4.10 EPS. D.R. Horton's revenue for the quarter was down 7.4% compared to the same quarter last year. As a group, equities research analysts anticipate that D.R. Horton, Inc. will post 13.04 EPS for the current 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 is 12.83%.

Insider Buying and Selling at D.R. Horton

In other news, Director Michael R. Buchanan sold 2,150 shares of the company'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 transaction of $274,555.00. Following the completion of the transaction, the director directly owned 2,193 shares of the company's stock, valued at $280,046.10. This represents a 49.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.54% of the company's stock.

D.R. Horton 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.