National Bank of Canada FI Boosts Stock Holdings in D.R. Horton, Inc. (NYSE:DHI)

Key Points

• National Bank of Canada FI significantly increased its stake in D.R. Horton, Inc. by 61.9%, owning 243,335 shares valued at approximately $30.9 million.
• Several institutional investors, including Bank Pictet & Cie and Rockefeller Capital Management, have also increased their holdings in D.R. Horton, reflecting strong institutional interest with 90.63% of shares owned by such investors.
• D.R. Horton recently declared a quarterly dividend of $0.40 per share, representing an annualized yield of 1.0%, with a payout ratio of 12.83%.

National Bank of Canada FI lifted its holdings in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 61.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 243,335 shares of the construction company's stock after purchasing an additional 93,014 shares during the quarter. National Bank of Canada FI owned about 0.08% of D.R. Horton worth $30,934,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in DHI. Bank Pictet & Cie Europe AG boosted its position in shares of D.R. Horton by 1.6% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 319,166 shares of the construction company's stock worth $44,626,000 after purchasing an additional 5,052 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of D.R. Horton by 0.3% in the 4th quarter. Bessemer Group Inc. now owns 46,962 shares of the construction company's stock worth $6,566,000 after purchasing an additional 142 shares in the last quarter. Treasurer of the State of North Carolina boosted its position in shares of D.R. Horton by 1.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 131,654 shares of the construction company's stock worth $18,408,000 after purchasing an additional 2,050 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of D.R. Horton by 6.7% in the 4th quarter. Sterling Capital Management LLC now owns 17,340 shares of the construction company's stock worth $2,424,000 after purchasing an additional 1,096 shares in the last quarter. Finally, Rockefeller Capital Management L.P. boosted its position in shares of D.R. Horton by 49.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 47,857 shares of the construction company's stock worth $6,699,000 after purchasing an additional 15,930 shares in the last quarter. Institutional investors and hedge funds own 90.63% of the company's stock.

D.R. Horton Stock Performance

Shares of NYSE DHI traded up $3.46 during trading on Tuesday, reaching $158.42. 2,855,050 shares of the company traded hands, compared to its average volume of 4,718,789. The firm's fifty day simple moving average is $135.66 and its 200 day simple moving average is $129.79. The stock has a market cap of $47.23 billion, a P/E ratio of 12.70, a PEG ratio of 3.29 and a beta of 1.34. D.R. Horton, Inc. has a 12-month low of $110.44 and a 12-month high of $199.85. The company has a current ratio of 7.06, a quick ratio of 1.19 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 for the quarter, beating analysts' consensus estimates of $2.90 by $0.46. D.R. Horton had a return on equity of 15.74% and a net margin of 11.46%. The business had revenue of $9.23 billion during the quarter, compared to analyst estimates of $8.80 billion. During the same quarter last year, the business posted $4.10 EPS. The company's revenue was down 7.4% on a year-over-year basis. As a group, research analysts anticipate that D.R. Horton, Inc. will post 13.04 earnings per share for the current fiscal year.

D.R. Horton Dividend Announcement

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

Insider Buying and Selling at D.R. Horton

In related news, Director Michael R. Buchanan sold 2,150 shares of D.R. Horton stock in a transaction dated 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 transaction, the director owned 2,193 shares in the company, valued at $280,046.10. The trade was a 49.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.54% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have commented on DHI. Wall Street Zen raised D.R. Horton from a "sell" rating to a "hold" rating in a research report on Sunday, July 20th. Wedbush lifted their price target on D.R. Horton from $155.00 to $170.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada lifted their price target on D.R. Horton from $105.00 to $117.00 and gave the stock an "underperform" rating in a research report on Wednesday, July 23rd. Wells Fargo & Company lifted their price target on D.R. Horton from $160.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Finally, JMP Securities lowered their price target on D.R. Horton from $210.00 to $180.00 and set a "market outperform" rating for the company in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, D.R. Horton presently has a consensus rating of "Hold" and a consensus target price of $153.23.

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.