State of Michigan Retirement System Reduces Stock Position in D.R. Horton, Inc. (NYSE:DHI)

State of Michigan Retirement System lessened its stake in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 2.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,599 shares of the construction company's stock after selling 2,200 shares during the quarter. State of Michigan Retirement System's holdings in D.R. Horton were worth $13,933,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cerity Partners LLC increased its position in D.R. Horton by 9.4% during the 1st quarter. Cerity Partners LLC now owns 32,067 shares of the construction company's stock worth $4,077,000 after purchasing an additional 2,745 shares in the last quarter. Leavell Investment Management Inc. increased its position in D.R. Horton by 19.8% during the 1st quarter. Leavell Investment Management Inc. now owns 3,326 shares of the construction company's stock worth $423,000 after purchasing an additional 549 shares in the last quarter. Banque Pictet & Cie SA increased its position in D.R. Horton by 3.8% during the 1st quarter. Banque Pictet & Cie SA now owns 415,641 shares of the construction company's stock worth $52,840,000 after purchasing an additional 15,176 shares in the last quarter. LBP AM SA purchased a new stake in D.R. Horton in the 1st quarter valued at about $4,130,000. Finally, Brown Advisory Inc. grew its holdings in D.R. Horton by 14.0% in the 1st quarter. Brown Advisory Inc. now owns 6,111 shares of the construction company's stock valued at $777,000 after buying an additional 749 shares during the period. Hedge funds and other institutional investors own 90.63% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the company. Bank of America lowered their price target on D.R. Horton from $150.00 to $125.00 and set a "neutral" rating for the company in a report on Thursday, April 17th. Softer demand and elevated incentives impacting outlook through H2 2025 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. 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. Wall Street Zen cut D.R. Horton from a "hold" rating to a "sell" rating in a report on Saturday. 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. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $151.15.

D.R. Horton Stock Performance

NYSE DHI opened at $136.79 on Friday. The firm has a market capitalization of $42.02 billion, a P/E ratio of 10.36, a P/E/G ratio of 4.36 and a beta of 1.38. D.R. Horton, Inc. has a 1-year low of $110.44 and a 1-year high of $199.85. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.29 and a quick ratio of 1.15. The business's 50-day simple moving average is $125.12 and its 200-day simple moving average is $129.31.

D.R. Horton (NYSE:DHI - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The construction company reported $2.58 EPS for the quarter, missing the consensus estimate of $2.69 by ($0.11). The company had revenue of $7.73 billion for the quarter, compared to analyst estimates of $8.07 billion. D.R. Horton had a return on equity of 16.95% and a net margin of 12.15%. During the same period last year, the firm posted $3.52 earnings per share. Equities 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 declared a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, May 2nd were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 1.17%. The ex-dividend date was Friday, May 2nd. D.R. Horton's dividend payout ratio (DPR) is presently 12.11%.

Insider Buying and Selling

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 stock was 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 of the company's stock, valued at approximately $280,046.10. The trade was a 49.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company 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.

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