Zurcher Kantonalbank Zurich Cantonalbank Has $19.14 Million Stake in D.R. Horton, Inc. (NYSE:DHI)

Key Points

• Zurcher Kantonalbank reduced its holdings in D.R. Horton, Inc. by 53.8%, owning 150,533 shares worth $19.1 million after selling 175,310 shares in the first quarter.
• D.R. Horton reported a quarterly EPS of $3.36, exceeding the consensus estimate by $0.46, with revenues of $9.23 billion, down 7.4% year-over-year.
• The company announced a quarterly dividend of $0.40, with an annualized yield of 1.09%, and has a payout ratio of 12.83%.

Zurcher Kantonalbank Zurich Cantonalbank trimmed its position in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 53.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 150,533 shares of the construction company's stock after selling 175,310 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in D.R. Horton were worth $19,137,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Edgestream Partners L.P. lifted its holdings in D.R. Horton by 1,710.0% in the first quarter. Edgestream Partners L.P. now owns 107,587 shares of the construction company's stock valued at $13,678,000 after acquiring an additional 101,643 shares during the last quarter. MQS Management LLC acquired a new stake in shares of D.R. Horton during the first quarter worth about $1,132,000. Leavell Investment Management Inc. lifted its position in D.R. Horton by 19.8% in the first quarter. Leavell Investment Management Inc. now owns 3,326 shares of the construction company's stock valued at $423,000 after purchasing an additional 549 shares during the period. Exchange Traded Concepts LLC increased its holdings in D.R. Horton by 25.0% in the first quarter. Exchange Traded Concepts LLC now owns 2,555 shares of the construction company's stock valued at $325,000 after buying an additional 511 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its holdings in D.R. Horton by 1.6% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 319,166 shares of the construction company's stock valued at $44,626,000 after buying an additional 5,052 shares in the last quarter. 90.63% of the stock is currently owned by institutional investors and hedge funds.

D.R. Horton Stock Up 4.7%

Shares of D.R. Horton stock traded up $6.67 during midday trading on Friday, reaching $149.51. 4,151,141 shares of the company's stock traded hands, compared to its average volume of 3,796,424. The company has a market cap of $44.57 billion, a price-to-earnings ratio of 12.00, a price-to-earnings-growth ratio of 3.05 and a beta of 1.38. D.R. Horton, Inc. has a 52 week low of $110.44 and a 52 week high of $199.85. 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 company's 50 day simple moving average is $129.88 and its 200 day simple moving average is $129.40.

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

D.R. Horton Announces Dividend

The business also recently declared 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. This represents a $1.60 annualized dividend and a yield of 1.1%. The ex-dividend date is Thursday, August 7th. D.R. Horton's dividend payout ratio (DPR) is currently 12.83%.

Analysts Set New Price Targets

DHI has been the subject of several recent analyst reports. UBS Group lifted their target price on shares of D.R. Horton from $176.00 to $187.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Keefe, Bruyette & Woods upped their price objective on shares of D.R. Horton from $135.00 to $161.00 and gave the company a "market perform" rating in a research report on Thursday, July 24th. Royal Bank Of Canada increased their price objective 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, Barclays reduced their target price on shares of D.R. Horton from $120.00 to $110.00 and set an "equal weight" rating for the company in a report on Monday, April 21st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's 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 Transactions 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 on Tuesday, June 24th. The shares were sold at an average price of $127.70, for a total value of $274,555.00. Following the sale, the director directly owned 2,193 shares in the company, valued at $280,046.10. This trade represents a 49.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.54% of the stock is owned by corporate insiders.

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.