Lecap Asset Management Ltd. Trims Stock Position in D.R. Horton, Inc. $DHI

Key Points

• Lecap Asset Management Ltd. significantly reduced its stake in D.R. Horton, Inc., selling 19,716 shares and holding only 2,475 shares by the end of the second quarter.
• Multiple hedge funds have recently adjusted their positions in D.R. Horton, with some increasing stakes significantly, indicating fluctuating confidence in the company's stock.
• D.R. Horton beat analysts' earnings expectations in its latest quarterly report, posting $3.36 EPS compared to estimates of $2.90, despite a year-over-year revenue decline.

Lecap Asset Management Ltd. decreased its holdings in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 88.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,475 shares of the construction company's stock after selling 19,716 shares during the quarter. Lecap Asset Management Ltd.'s holdings in D.R. Horton were worth $319,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. J2 Capital Management Inc bought a new stake in shares of D.R. Horton in the second quarter worth about $640,000. Robeco Institutional Asset Management B.V. grew its stake in shares of D.R. Horton by 13.2% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 52,301 shares of the construction company's stock worth $6,743,000 after buying an additional 6,086 shares during the last quarter. Ninety One UK Ltd bought a new position in shares of D.R. Horton during the second quarter valued at $4,521,000. Childress Capital Advisors LLC bought a new position in shares of D.R. Horton in the second quarter worth approximately $217,000. Finally, Truist Financial Corp raised its stake in shares of D.R. Horton by 200.1% in the second quarter. Truist Financial Corp now owns 177,280 shares of the construction company's stock worth $22,855,000 after purchasing an additional 118,199 shares during the last quarter. Institutional investors own 90.63% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on DHI. UBS Group raised their price target on 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 raised their price objective on 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. Bank of America raised their target price on shares of D.R. Horton from $155.00 to $175.00 and gave the company a "neutral" rating in a report on Thursday, September 18th. Wells Fargo & Company lifted their price objective on shares of D.R. Horton from $175.00 to $190.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 2nd. Finally, Wall Street Zen upgraded shares of D.R. Horton from a "sell" rating to a "hold" rating in a research report on Sunday, July 20th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, D.R. Horton currently has an average rating of "Hold" and an average target price of $160.00.

Insider Activity

In other news, Chairman David V. Auld sold 30,000 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $182.21, for a total value of $5,466,300.00. Following the completion of the sale, the chairman owned 815,672 shares of the company's stock, valued at $148,623,595.12. This trade represents a 3.55% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael R. Buchanan sold 1,000 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $180.74, for a total value of $180,740.00. Following the transaction, the director directly owned 1,193 shares in the company, valued at $215,622.82. This represents a 45.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,376 shares of company stock worth $5,898,848. Insiders own 0.54% of the company's stock.

D.R. Horton Trading Up 2.0%

Shares of NYSE DHI opened at $174.93 on Friday. D.R. Horton, Inc. has a twelve month low of $110.44 and a twelve month high of $195.50. The firm has a market cap of $52.15 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 3.56 and a beta of 1.40. The business has a fifty day simple moving average of $165.86 and a two-hundred day simple moving average of $139.88. The company has a quick ratio of 1.19, a current ratio of 7.06 and a debt-to-equity ratio of 0.29.

D.R. Horton (NYSE:DHI - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.36 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $8.80 billion. During the same period last year, the firm earned $4.10 earnings per share. The company's quarterly revenue was down 7.4% on a year-over-year basis. D.R. Horton has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. 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 firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.9%. D.R. Horton's dividend payout ratio is presently 12.83%.

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.

Want to see what other hedge funds are holding DHI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for D.R. Horton, Inc. (NYSE:DHI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.