US Bancorp DE Cuts Position in D.R. Horton, Inc. (NYSE:DHI)

Key Points

• US Bancorp DE reduced its stake in D.R. Horton by 9.3%, holding 114,031 shares valued at approximately $14.5 million after selling 11,747 shares.
• D.R. Horton reported earnings of $3.36 per share for the last quarter, surpassing expectations of $2.90, while its revenue declined 7.4% year-over-year.
• The company recently announced a quarterly dividend of $0.40 per share, reflecting an annualized payout of $1.60 and a yield of 1.0%.

US Bancorp DE decreased its stake in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 114,031 shares of the construction company's stock after selling 11,747 shares during the period. US Bancorp DE's holdings in D.R. Horton were worth $14,497,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Olde Wealth Management LLC acquired a new position in shares of D.R. Horton in the 1st quarter worth $26,000. Bayforest Capital Ltd raised its holdings 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 buying an additional 194 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in D.R. Horton during the fourth quarter valued at about $43,000. Oarsman Capital Inc. boosted its holdings 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 buying an additional 198 shares during the period. Finally, Alpine Bank Wealth Management acquired a new stake in shares of D.R. Horton during the first quarter valued at approximately $61,000. 90.63% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Keefe, Bruyette & Woods raised their price objective on D.R. Horton from $135.00 to $161.00 and gave the stock a "market perform" rating in a research report on Thursday, July 24th. BTIG Research cut 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 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. Wells Fargo & Company lifted their target price on shares of D.R. Horton from $160.00 to $175.00 and gave the company an "overweight" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada set a $117.00 price target on D.R. Horton and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Finally, The Goldman Sachs Group lowered their price objective 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $153.23.

D.R. Horton Price Performance

Shares of NYSE:DHI traded up $1.80 on Tuesday, hitting $155.08. The company's stock had a trading volume of 3,725,433 shares, compared to its average volume of 5,093,742. The company has a 50-day simple moving average of $131.20 and a 200 day simple moving average of $129.25. The company has a market capitalization of $46.23 billion, a PE ratio of 12.44, a PEG ratio of 3.26 and a beta of 1.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.06 and a quick ratio of 1.19. D.R. Horton, Inc. has a 1 year low of $110.44 and a 1 year high of $199.85.

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, beating the consensus estimate of $2.90 by $0.46. The company had revenue of $9.23 billion during the quarter, compared to analysts' expectations of $8.80 billion. D.R. Horton had a return on equity of 15.74% and a net margin of 11.46%. D.R. Horton's quarterly revenue was down 7.4% compared to the same quarter last year. During the same period in the prior year, the business posted $4.10 EPS. Sell-side analysts forecast that D.R. Horton, Inc. will post 13.04 EPS for the current fiscal year.

D.R. Horton Dividend Announcement

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

Insider Buying and Selling

In related news, Director Michael R. Buchanan sold 2,150 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $127.70, for a total transaction of $274,555.00. Following the completion of the sale, the director owned 2,193 shares of the company's stock, valued at $280,046.10. This trade represents a 49.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is owned by company insiders.

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.