Royal Bank of Canada Reduces Stake in D.R. Horton, Inc. $DHI

Key Points

• Royal Bank of Canada cut its D.R. Horton stake by 54.8% in the first quarter, selling 391,535 shares and retaining 322,631 shares valued at approximately $44.3 million. Institutional investors collectively own 90.63% of the homebuilder.
• D.R. Horton reported quarterly earnings of $3.20 per share, exceeding the $3.02 analyst consensus, while revenue reached $9.23 billion versus estimates of $9.10 billion.
• The company declared a quarterly dividend of $0.45 per share, equivalent to $1.80 annually and a 1.3% yield. Analysts maintain a consensus “Hold” rating with an average price target of $168.17.

Royal Bank of Canada trimmed its position in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 54.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 322,631 shares of the construction company's stock after selling 391,535 shares during the quarter. Royal Bank of Canada owned approximately 0.11% of D.R. Horton worth $44,272,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Merit Financial Group LLC raised its holdings in shares of D.R. Horton by 25.6% during the 4th quarter. Merit Financial Group LLC now owns 18,298 shares of the construction company's stock valued at $2,635,000 after buying an additional 3,726 shares during the period. Vise Technologies Inc. boosted its holdings in D.R. Horton by 132.9% in the 4th quarter. Vise Technologies Inc. now owns 14,925 shares of the construction company's stock worth $2,150,000 after acquiring an additional 8,517 shares during the period. Calamos Advisors LLC grew its position in D.R. Horton by 25.8% in the fourth quarter. Calamos Advisors LLC now owns 201,437 shares of the construction company's stock valued at $29,013,000 after acquiring an additional 41,249 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of D.R. Horton by 94.1% during the first quarter. California Public Employees Retirement System now owns 880,665 shares of the construction company's stock valued at $120,845,000 after purchasing an additional 426,886 shares during the period. Finally, SteelPeak Wealth LLC purchased a new stake in shares of D.R. Horton during the fourth quarter valued at approximately $2,656,000. Institutional investors and hedge funds own 90.63% of the company's stock.

D.R. Horton Stock Up 0.2%

Shares of NYSE:DHI opened at $143.36 on Monday. The firm has a market cap of $40.10 billion, a PE ratio of 13.64, a price-to-earnings-growth ratio of 2.27 and a beta of 1.37. The company has a fifty day simple moving average of $151.49 and a 200 day simple moving average of $150.32. The company has a current ratio of 6.43, a quick ratio of 1.04 and a debt-to-equity ratio of 0.29. D.R. Horton, Inc. has a 12-month low of $131.75 and a 12-month high of $184.54.

D.R. Horton (NYSE:DHI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The construction company reported $3.20 EPS for the quarter, beating analysts' consensus estimates of $3.02 by $0.18. The firm had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $9.10 billion. D.R. Horton had a net margin of 9.15% and a return on equity of 12.47%. The firm's revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.36 EPS. On average, equities research analysts anticipate that D.R. Horton, Inc. will post 10.47 EPS for the current fiscal year.

D.R. Horton Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Thursday, August 6th will be paid a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, August 6th. D.R. Horton's dividend payout ratio (DPR) is 17.13%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on DHI shares. The Goldman Sachs Group restated a "buy" rating on shares of D.R. Horton in a research note on Tuesday, July 21st. Keefe, Bruyette & Woods cut their price objective on shares of D.R. Horton from $175.00 to $167.00 and set a "market perform" rating on the stock in a report on Wednesday, July 22nd. Seaport Research Partners reissued a "neutral" rating on shares of D.R. Horton in a research report on Tuesday, April 7th. Weiss Ratings raised D.R. Horton from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, July 20th. Finally, UBS Group boosted their price target on D.R. Horton from $193.00 to $206.00 and gave the stock a "buy" rating in a research note on Wednesday, April 22nd. Five research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat, D.R. Horton currently has an average rating of "Hold" and a consensus price target of $168.17.

D.R. Horton Company Profile

D.R. Horton, Inc is a national homebuilding company that designs, constructs and sells new residential properties across the United States. The company's core operations focus on building single-family detached homes, townhomes and condominiums for a range of buyer segments. In addition to home construction and sales, D.R. Horton provides complementary services through subsidiaries that support the mortgage, title and closing processes for its customers, enabling integrated transaction workflows from inventory development to home delivery.

Founded in 1978 by Donald R.

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