New Wave Wealth Advisors LLC Takes $337,000 Position in D.R. Horton, Inc. (NYSE:DHI)

New Wave Wealth Advisors LLC bought a new stake in D.R. Horton, Inc. (NYSE:DHI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 2,650 shares of the construction company's stock, valued at approximately $337,000.

Several other institutional investors also recently modified their holdings of the business. Bank Pictet & Cie Europe AG grew its holdings in D.R. Horton by 1.6% during 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 purchasing an additional 5,052 shares during the period. Versor Investments LP bought a new position in D.R. Horton during the fourth quarter valued at $205,000. SVB Wealth LLC bought a new position in D.R. Horton during the fourth quarter valued at $941,000. Fisher Asset Management LLC grew its holdings in D.R. Horton by 2.3% during the fourth quarter. Fisher Asset Management LLC now owns 237,959 shares of the construction company's stock valued at $33,271,000 after purchasing an additional 5,327 shares during the period. Finally, Metis Global Partners LLC grew its holdings in D.R. Horton by 6.8% during the fourth quarter. Metis Global Partners LLC now owns 11,960 shares of the construction company's stock valued at $1,672,000 after purchasing an additional 766 shares during the period. 90.63% of the stock is owned by institutional investors.

D.R. Horton Trading Up 1.3%

NYSE DHI opened at $128.77 on Monday. The stock's 50-day simple moving average is $123.32 and its two-hundred day simple moving average is $129.75. D.R. Horton, Inc. has a twelve month low of $110.44 and a twelve month high of $199.85. The company has a quick ratio of 1.15, a current ratio of 7.29 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $39.56 billion, a price-to-earnings ratio of 9.75, a PEG ratio of 4.02 and a beta of 1.37.

D.R. Horton (NYSE:DHI - Get Free Report) last released its quarterly earnings data on Thursday, April 17th. The construction company reported $2.58 EPS for the quarter, missing the consensus estimate of $2.69 by ($0.11). The company had revenue of $7.73 billion during the quarter, compared to analysts' expectations of $8.07 billion. D.R. Horton had a return on equity of 16.95% and a net margin of 12.15%. During the same quarter in the prior year, the firm posted $3.52 EPS. Research analysts forecast that D.R. Horton, Inc. will post 13.04 EPS for the current fiscal year.

D.R. Horton Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, May 2nd were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $1.60 annualized dividend and a dividend yield of 1.24%. D.R. Horton's payout ratio is presently 12.11%.

Analyst Upgrades and Downgrades

DHI has been the subject of a number of analyst reports. BTIG Research cut their price target on 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. Seaport Res Ptn raised D.R. Horton from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. JPMorgan Chase & Co. cut their price target on D.R. Horton from $132.00 to $111.00 and set an "underweight" rating for the company in a report on Monday, April 21st. Wall Street Zen raised D.R. Horton from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Finally, Keefe, Bruyette & Woods cut their price target on D.R. Horton from $165.00 to $135.00 and set a "market perform" rating for the company in a report on Tuesday, April 22nd. Two 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $151.15.

Insider Buying and Selling

In other D.R. Horton news, Director Michael R. Buchanan sold 2,150 shares of D.R. Horton stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $127.70, for a total transaction of $274,555.00. Following the sale, the director now directly owns 2,193 shares of the company's stock, valued at approximately $280,046.10. The trade was a 49.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.54% of the stock is 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.

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