Zions Bancorporation National Association UT Purchases New Stake in D.R. Horton, Inc. (NYSE:DHI)

Key Points

• Zions Bancorporation has made a new investment of $484,000 in D.R. Horton, acquiring 3,809 shares of the company during the first quarter.
• D.R. Horton recently reported an EPS of $3.36 for its latest quarter, exceeding estimates, although revenue declined 7.4% year-over-year.
• The company announced a quarterly dividend of $0.40 per share, set to be paid on August 14th, representing a 1.0% dividend yield.

Zions Bancorporation National Association UT acquired a new stake in D.R. Horton, Inc. (NYSE:DHI - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 3,809 shares of the construction company's stock, valued at approximately $484,000.

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

Analyst Ratings Changes

Several research analysts recently commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of D.R. Horton from $132.00 to $111.00 and set an "underweight" rating on the stock in a report on Monday, April 21st. BTIG Research cut their price target on shares of 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. Wells Fargo & Company lifted their price target on shares of D.R. Horton from $160.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. Wedbush boosted their target price on shares of D.R. Horton from $155.00 to $170.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of D.R. Horton from $135.00 to $161.00 and gave the stock a "market perform" rating in a research note on Thursday, July 24th. Two equities 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. Based on data from MarketBeat.com, D.R. Horton has an average rating of "Hold" and a consensus price target of $153.23.

Insider Buying and Selling at D.R. Horton

In related news, Director Michael R. Buchanan sold 2,150 shares of the company's stock in a transaction dated Tuesday, June 24th. The shares were 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 in the company, valued at approximately $280,046.10. This represents a 49.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.54% of the stock is owned by insiders.

D.R. Horton Stock Down 0.9%

Shares of D.R. Horton stock traded down $1.48 on Thursday, hitting $164.07. The company had a trading volume of 3,763,191 shares, compared to its average volume of 3,792,989. The firm has a market capitalization of $48.91 billion, a P/E ratio of 13.16, a P/E/G ratio of 3.36 and a beta of 1.34. D.R. Horton, Inc. has a twelve month low of $110.44 and a twelve month high of $199.85. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.06 and a quick ratio of 1.19. The stock has a 50-day moving average of $136.50 and a 200-day moving average of $130.04.

D.R. Horton (NYSE:DHI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.36 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.23 billion for the quarter, compared to analyst estimates of $8.80 billion. During the same period in the prior year, the firm posted $4.10 earnings per share. The company's quarterly revenue was down 7.4% compared to the same quarter last year. Research analysts predict that D.R. Horton, Inc. will post 13.04 earnings per share for the current year.

D.R. Horton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th will be given a $0.40 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.60 annualized dividend and a dividend yield of 1.0%. 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.