PNC Financial Services Group Inc. Reduces Position in D.R. Horton, Inc. (NYSE:DHI)

PNC Financial Services Group Inc. lessened its holdings in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 3.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 217,752 shares of the construction company's stock after selling 6,870 shares during the period. PNC Financial Services Group Inc. owned about 0.07% of D.R. Horton worth $27,683,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Blueshift Asset Management LLC boosted its position in shares of D.R. Horton by 77.6% during the first quarter. Blueshift Asset Management LLC now owns 7,351 shares of the construction company's stock valued at $935,000 after buying an additional 3,213 shares during the period. Jefferies Financial Group Inc. boosted its position in shares of D.R. Horton by 404.2% during the first quarter. Jefferies Financial Group Inc. now owns 10,230 shares of the construction company's stock valued at $1,301,000 after buying an additional 8,201 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in shares of D.R. Horton by 2.9% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,682 shares of the construction company's stock valued at $468,000 after purchasing an additional 105 shares during the period. Sound View Wealth Advisors Group LLC boosted its holdings in shares of D.R. Horton by 11.4% in the first quarter. Sound View Wealth Advisors Group LLC now owns 11,020 shares of the construction company's stock valued at $1,401,000 after purchasing an additional 1,128 shares during the period. Finally, Lyell Wealth Management LP boosted its holdings in shares of D.R. Horton by 2.0% in the first quarter. Lyell Wealth Management LP now owns 110,992 shares of the construction company's stock valued at $14,110,000 after purchasing an additional 2,158 shares during the period. Hedge funds and other institutional investors own 90.63% of the company's stock.

D.R. Horton Stock Performance

Shares of DHI stock opened at $153.46 on Tuesday. The business's fifty day simple moving average is $131.20 and its 200-day simple moving average is $129.25. The company has a market cap of $45.75 billion, a PE ratio of 12.31, a PEG ratio of 3.19 and a beta of 1.34. 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, Inc. has a 12-month low of $110.44 and a 12-month high of $199.85.

D.R. Horton (NYSE:DHI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.90 by $0.46. The business had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $8.80 billion. D.R. Horton had a return on equity of 15.74% and a net margin of 11.46%. The business's quarterly revenue was down 7.4% on a year-over-year basis. During the same period in the prior year, the firm posted $4.10 earnings per share. 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 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 1.0%. D.R. Horton's dividend payout ratio is presently 12.83%.

Insider Activity

In related news, Director Michael R. Buchanan sold 2,150 shares of the company's stock in a transaction 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 transaction, the director directly owned 2,193 shares of the company's stock, valued at $280,046.10. This represents a 49.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.54% of the company's stock.

Analysts Set New Price Targets

DHI has been the subject of a number of research reports. Keefe, Bruyette & Woods boosted their price target on D.R. Horton from $135.00 to $161.00 and gave the company a "market perform" rating in a report on Thursday, July 24th. 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 report on Monday, April 21st. BTIG Research lowered 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. Royal Bank Of Canada boosted their price target on D.R. Horton from $105.00 to $117.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. Finally, JPMorgan Chase & Co. lowered 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. Two analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $153.23.

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.

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