Provident Investment Management Inc. Has $1.30 Million Holdings in D.R. Horton, Inc. (NYSE:DHI)

Key Points

• Provident Investment Management Inc. significantly reduced its stake in D.R. Horton, Inc. by 93.7%, selling 150,727 shares and now holding only 10,203 shares worth approximately $1.3 million.
• Recent institutional activity includes Bayforest Capital Ltd. increasing its holdings by 340.4%, alongside new investments from other firms, reflecting a high institutional ownership of 90.63%.
• D.R. Horton recently announced a quarterly dividend of $0.40 per share, with an annualized yield of 1.0%, amid a quarterly earnings report showing decreased revenues year-over-year.

Provident Investment Management Inc. reduced its holdings in D.R. Horton, Inc. (NYSE:DHI - Free Report) by 93.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,203 shares of the construction company's stock after selling 150,727 shares during the period. Provident Investment Management Inc.'s holdings in D.R. Horton were worth $1,297,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in D.R. Horton by 1.9% during the first quarter. Vanguard Group Inc. now owns 33,664,013 shares of the construction company's stock worth $4,279,706,000 after buying an additional 642,642 shares in the last quarter. Intrust Bank NA grew its holdings in shares of D.R. Horton by 24.5% during the 1st quarter. Intrust Bank NA now owns 2,021 shares of the construction company's stock worth $257,000 after purchasing an additional 398 shares in the last quarter. New Age Alpha Advisors LLC increased its position in shares of D.R. Horton by 895.0% during the first quarter. New Age Alpha Advisors LLC now owns 19,492 shares of the construction company's stock valued at $2,478,000 after purchasing an additional 17,533 shares during the period. Empire Life Investments Inc. acquired a new position in shares of D.R. Horton in the first quarter valued at $5,387,000. Finally, ING Groep NV bought a new position in D.R. Horton in the first quarter worth $8,737,000. 90.63% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on DHI. BTIG Research lowered their price target on shares of D.R. Horton from $171.00 to $150.00 and set a "buy" rating on the stock 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. Wedbush upped their target price on shares of D.R. Horton from $155.00 to $170.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. Bank of America dropped their price target 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 decreased their price objective on D.R. Horton from $210.00 to $180.00 and set a "market outperform" rating on the stock in a report on Monday, April 21st. Finally, Wells Fargo & Company upped their price objective on D.R. Horton from $160.00 to $175.00 and gave the company an "overweight" rating in a research note on Wednesday, July 23rd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have given 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 Activity

In related news, Director Michael R. Buchanan sold 2,150 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The shares were 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.54% of the company's stock.

D.R. Horton Price Performance

DHI stock traded down $0.08 during midday trading on Thursday, reaching $153.98. 2,440,318 shares of the company's stock traded hands, compared to its average volume of 5,017,818. The company has a 50-day simple moving average of $132.61 and a two-hundred day simple moving average of $129.60. 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, Inc. has a 1-year low of $110.44 and a 1-year high of $199.85. The company has a market cap of $45.91 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 3.27 and a beta of 1.34.

D.R. Horton (NYSE:DHI - Get Free Report) last announced its earnings results 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 company had revenue of $9.23 billion during the quarter, compared to analyst estimates of $8.80 billion. D.R. Horton had a return on equity of 15.74% and a net margin of 11.46%. The firm's quarterly revenue was down 7.4% compared to the same quarter last year. During the same period last year, the company posted $4.10 earnings per share. On average, analysts anticipate that D.R. Horton, Inc. will post 13.04 earnings per share for the current year.

D.R. Horton Dividend Announcement

The business also recently announced 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Thursday, August 7th. D.R. Horton's dividend payout ratio is presently 12.83%.

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.