Sierra Summit Advisors LLC Acquires New Position in D.R. Horton, Inc. (NYSE:DHI)

Key Points

• Sierra Summit Advisors LLC made a new investment in D.R. Horton, purchasing 54,900 shares valued at approximately $6.98 million, which now represents about 1.5% of its portfolio.
• D.R. Horton reported earnings per share of $3.36 for the last quarter, exceeding analyst expectations of $2.90, although revenues decreased by 7.4% compared to last year.
• The company announced a quarterly dividend of $0.40 per share, which will be paid to investors on August 14th, representing an annual yield of 1.0%.

Sierra Summit Advisors LLC bought a new stake in D.R. Horton, Inc. (NYSE:DHI - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 54,900 shares of the construction company's stock, valued at approximately $6,979,000. D.R. Horton comprises approximately 1.5% of Sierra Summit Advisors LLC's holdings, making the stock its 25th largest holding.

Several other large investors have also recently added to or reduced their stakes in DHI. Olde Wealth Management LLC purchased a new stake in shares of D.R. Horton during the 1st quarter worth approximately $26,000. Bayforest Capital Ltd raised its holdings in D.R. Horton by 340.4% in the 1st quarter. Bayforest Capital Ltd now owns 251 shares of the construction company's stock valued at $32,000 after acquiring an additional 194 shares during the last quarter. Itau Unibanco Holding S.A. acquired a new position in D.R. Horton in the 4th quarter valued at $43,000. Alpine Bank Wealth Management acquired a new stake in shares of D.R. Horton during the 1st quarter worth $61,000. Finally, Continuum Advisory LLC increased its holdings in shares of D.R. Horton by 25.8% during the 4th quarter. Continuum Advisory LLC now owns 487 shares of the construction company's stock worth $68,000 after buying an additional 100 shares during the last quarter. 90.63% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Michael R. Buchanan sold 2,150 shares of the company'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 transaction of $274,555.00. Following the transaction, the director directly owned 2,193 shares in the company, valued at approximately $280,046.10. This represents a 49.50% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of D.R. Horton from $132.00 to $111.00 and set an "underweight" rating for the company in a research report on Monday, April 21st. Keefe, Bruyette & Woods raised their price target 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. Wells Fargo & Company lifted their price target on shares of D.R. Horton from $160.00 to $175.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 23rd. Royal Bank Of Canada raised their price objective on shares of D.R. Horton from $105.00 to $117.00 and gave the stock an "underperform" rating in a research note on Wednesday, July 23rd. Finally, Wedbush lifted 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. Two investment analysts have rated the stock with a sell rating, seven have assigned 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, D.R. Horton presently has a consensus rating of "Hold" and a consensus price target of $153.23.

D.R. Horton Stock Performance

Shares of NYSE:DHI traded down $1.41 on Monday, hitting $155.09. 2,914,595 shares of the company were exchanged, compared to its average volume of 4,735,248. The company's 50 day moving average price is $134.86 and its two-hundred day moving average price is $129.59. D.R. Horton, Inc. has a one year low of $110.44 and a one year high of $199.85. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.19 and a current ratio of 7.06. The firm has a market capitalization of $46.24 billion, a price-to-earnings ratio of 12.44, a PEG ratio of 3.32 and a beta of 1.34.

D.R. Horton (NYSE:DHI - Get Free Report) last issued its earnings results on Tuesday, July 22nd. The construction company reported $3.36 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $9.23 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same period in the previous year, the business earned $4.10 EPS. The firm's revenue was down 7.4% on a year-over-year basis. Research analysts expect 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.