D.R. Horton, Inc. (NYSE:DHI) Shares Bought by Manhattan West Asset Management LLC

Key Points

• Manhattan West Asset Management LLC increased its holdings in D.R. Horton, Inc. by 21.4%, purchasing an additional 5,106 shares and bringing its total ownership to 28,955 shares worth approximately $3.68 million.
• D.R. Horton reported earnings per share of $3.36 for the last quarter, significantly beating analyst expectations of $2.90, however, revenue was down 7.4% year-over-year at $9.23 billion.
• The company announced a quarterly dividend of $0.40 per share, representing an annualized yield of 1.0%, with a payout ratio of 12.83%.

Manhattan West Asset Management LLC grew its position in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 21.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,955 shares of the construction company's stock after purchasing an additional 5,106 shares during the period. Manhattan West Asset Management LLC's holdings in D.R. Horton were worth $3,681,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Edgestream Partners L.P. boosted its holdings in D.R. Horton by 1,710.0% in the 1st quarter. Edgestream Partners L.P. now owns 107,587 shares of the construction company's stock worth $13,678,000 after acquiring an additional 101,643 shares during the period. MQS Management LLC acquired a new position in shares of D.R. Horton during the first quarter worth $1,132,000. Leavell Investment Management Inc. boosted its stake in shares of 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 grew its holdings in D.R. Horton by 25.0% during the 1st quarter. Exchange Traded Concepts LLC now owns 2,555 shares of the construction company's stock valued at $325,000 after purchasing an additional 511 shares in the last quarter. Finally, Bank Pictet & Cie Europe AG increased its stake in D.R. Horton by 1.6% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 319,166 shares of the construction company's stock worth $44,626,000 after buying an additional 5,052 shares during the period. Hedge funds and other institutional investors own 90.63% of the company's stock.

D.R. Horton Stock Performance

DHI stock traded up $3.46 during trading on Tuesday, reaching $158.42. 2,855,050 shares of the company's stock were exchanged, compared to its average volume of 3,788,191. D.R. Horton, Inc. has a 1-year low of $110.44 and a 1-year high of $199.85. The firm has a market cap of $47.23 billion, a PE ratio of 12.70, a P/E/G ratio of 3.32 and a beta of 1.34. The company's fifty day moving average price is $134.86 and its 200-day moving average price is $129.59. 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 issued its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.36 earnings per share for the quarter, beating analysts' consensus estimates of $2.90 by $0.46. The business had revenue of $9.23 billion for the quarter, compared to analysts' expectations of $8.80 billion. D.R. Horton had a net margin of 11.46% and a return on equity of 15.74%. The company's revenue was down 7.4% on a year-over-year basis. During the same period in the previous year, the business earned $4.10 earnings per share. On average, research analysts expect that D.R. Horton, Inc. will post 13.04 EPS for the current fiscal year.

D.R. Horton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, August 7th will be issued a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.60 annualized dividend and a yield of 1.0%. D.R. Horton's payout ratio is presently 12.83%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DHI. JPMorgan Chase & Co. decreased their price objective 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. The Goldman Sachs Group dropped their target price on shares of D.R. Horton from $173.00 to $150.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Bank of America lowered their price objective on shares of D.R. Horton from $150.00 to $125.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th. Softer demand and elevated incentives impacting outlook through H2 2025 JMP Securities dropped their price objective on shares of D.R. Horton from $210.00 to $180.00 and set a "market outperform" rating on the stock in a research note on Monday, April 21st. Finally, Wedbush lifted their target price on D.R. Horton from $155.00 to $170.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $153.23.

Insider Buying and Selling

In other D.R. Horton 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 value of $274,555.00. Following the completion of the sale, the director directly owned 2,193 shares in the company, valued at $280,046.10. This represents a 49.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.54% of the stock is currently owned by insiders.

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.