Kingsview Wealth Management LLC Makes New $8.87 Million Investment in D.R. Horton, Inc. (NYSE:DHI)

Kingsview Wealth Management LLC acquired a new position in D.R. Horton, Inc. (NYSE:DHI - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 69,798 shares of the construction company's stock, valued at approximately $8,873,000.

Several other institutional investors have also recently bought and sold shares of DHI. Olde Wealth Management LLC acquired a new stake in D.R. Horton during the 1st quarter worth $26,000. Nemes Rush Group LLC boosted its position in shares of D.R. Horton by 74.5% during the fourth quarter. Nemes Rush Group LLC now owns 192 shares of the construction company's stock worth $27,000 after purchasing an additional 82 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of D.R. Horton during the fourth quarter worth $43,000. Oarsman Capital Inc. boosted its position in shares of D.R. Horton by 146.7% during the fourth quarter. Oarsman Capital Inc. now owns 333 shares of the construction company's stock worth $46,000 after purchasing an additional 198 shares in the last quarter. Finally, Physician Wealth Advisors Inc. bought a new position in shares of D.R. Horton during the fourth quarter worth $54,000. Institutional investors own 90.63% of the company's stock.

D.R. Horton Stock Performance

DHI stock traded up $0.21 during trading hours on Friday, reaching $131.86. The stock had a trading volume of 5,125,531 shares, compared to its average volume of 3,163,013. The stock has a market capitalization of $40.50 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 4.11 and a beta of 1.38. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.29 and a quick ratio of 1.15. The stock has a 50-day simple moving average of $125.81 and a 200 day simple moving average of $129.08. 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 announced its quarterly 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). The firm had revenue of $7.73 billion during the quarter, compared to analyst estimates of $8.07 billion. D.R. Horton had a net margin of 12.15% and a return on equity of 16.95%. During the same quarter in the prior year, the business earned $3.52 EPS. Analysts predict that D.R. Horton, Inc. will post 13.04 EPS for the current fiscal year.

D.R. Horton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, May 2nd were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.21%. The ex-dividend date of this dividend was Friday, May 2nd. D.R. Horton's payout ratio is presently 12.11%.

Insider Buying and Selling at D.R. Horton

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

Analysts Set New Price Targets

DHI has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their price target on shares of D.R. Horton from $173.00 to $150.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. BTIG Research dropped their price objective on shares of D.R. Horton from $171.00 to $150.00 and set a "buy" rating on the stock 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. Keefe, Bruyette & Woods dropped their price objective on shares of D.R. Horton from $165.00 to $135.00 and set a "market perform" rating on the stock in a report on Tuesday, April 22nd. JPMorgan Chase & Co. decreased their target price on shares of D.R. Horton from $132.00 to $111.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. Finally, Wells Fargo & Company decreased their target price on shares of D.R. Horton from $175.00 to $160.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $151.15.

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.