Picton Mahoney Asset Management Has $10.29 Million Stock Holdings in D.R. Horton, Inc. (NYSE:DHI)

Key Points

• Picton Mahoney Asset Management reduced its stake in D.R. Horton, Inc. by 9.6%, selling 8,635 shares, leaving them with 80,916 shares valued at approximately $10.3 million.
• D.R. Horton reported a quarterly EPS of $3.36, surpassing expectations, despite a 7.4% year-over-year revenue decline.
• The company announced a quarterly dividend of $0.40 per share, with an annualized yield of 1.09%, to be paid on August 14th.

Picton Mahoney Asset Management trimmed its position in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 9.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 80,916 shares of the construction company's stock after selling 8,635 shares during the period. Picton Mahoney Asset Management's holdings in D.R. Horton were worth $10,288,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of D.R. Horton by 652.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,981,609 shares of the construction company's stock valued at $252,477,000 after buying an additional 1,718,094 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of D.R. Horton by 4,630.6% in the first quarter. Pacer Advisors Inc. now owns 1,691,056 shares of the construction company's stock valued at $214,984,000 after buying an additional 1,655,309 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of D.R. Horton by 71.5% in the fourth quarter. Franklin Resources Inc. now owns 3,574,409 shares of the construction company's stock valued at $499,774,000 after buying an additional 1,490,648 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of D.R. Horton by 19,102.6% in the first quarter. GAMMA Investing LLC now owns 916,734 shares of the construction company's stock valued at $116,544,000 after buying an additional 911,960 shares in the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of D.R. Horton by 1,838.0% in the fourth quarter. Two Sigma Investments LP now owns 877,644 shares of the construction company's stock valued at $122,712,000 after buying an additional 832,358 shares in the last quarter. 90.63% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DHI shares. Barclays cut their target price on shares of D.R. Horton from $120.00 to $110.00 and set an "equal weight" rating on the stock in a research note on Monday, April 21st. BTIG Research cut their target price on shares of D.R. Horton from $171.00 to $150.00 and set a "buy" rating on the stock in a research note 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. Royal Bank Of Canada boosted their target price on shares of D.R. Horton from $105.00 to $117.00 and gave the company an "underperform" rating in a research note on Wednesday, July 23rd. The Goldman Sachs Group cut 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 research note on Tuesday, April 15th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of D.R. Horton from $135.00 to $161.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $153.23.

D.R. Horton Stock Up 4.5%

NYSE:DHI traded up $6.45 during trading hours on Friday, reaching $149.29. The company's stock had a trading volume of 4,456,604 shares, compared to its average volume of 3,798,046. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.06 and a quick ratio of 1.19. D.R. Horton, Inc. has a one year low of $110.44 and a one year high of $199.85. The business's 50-day moving average is $129.88 and its 200-day moving average is $129.40. The company has a market cap of $44.51 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 3.05 and a beta of 1.38.

D.R. Horton (NYSE:DHI - Get Free Report) last released its quarterly earnings results 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 company had revenue of $9.23 billion during the quarter, compared to analysts' expectations of $8.80 billion. During the same period in the prior year, the company earned $4.10 earnings per share. The business's quarterly revenue was down 7.4% compared to the same quarter last year. Equities research analysts predict that D.R. Horton, Inc. will post 13.04 EPS for the current year.

D.R. Horton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.1%. D.R. Horton's dividend payout ratio is currently 12.83%.

Insider Activity at D.R. Horton

In other 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 transaction of $274,555.00. Following the completion of the transaction, the director owned 2,193 shares of the company's stock, valued at approximately $280,046.10. This represents a 49.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.54% of the company's stock.

D.R. Horton Company 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.