Janney Montgomery Scott LLC cut its stake in shares of D. R. Horton Inc (NYSE:DHI) by 42.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 33,490 shares of the construction company’s stock after selling 25,059 shares during the quarter. Janney Montgomery Scott LLC’s holdings in D. R. Horton were worth $1,857,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Private Advisor Group LLC increased its position in shares of D. R. Horton by 13.6% during the first quarter. Private Advisor Group LLC now owns 32,318 shares of the construction company’s stock worth $1,099,000 after acquiring an additional 3,865 shares during the period. The Manufacturers Life Insurance Company increased its holdings in D. R. Horton by 6.2% during the first quarter. The Manufacturers Life Insurance Company now owns 363,602 shares of the construction company’s stock valued at $12,362,000 after buying an additional 21,137 shares during the period. Sumitomo Mitsui Financial Group Inc. increased its holdings in D. R. Horton by 36.1% during the first quarter. Sumitomo Mitsui Financial Group Inc. now owns 64,223 shares of the construction company’s stock valued at $2,184,000 after buying an additional 17,040 shares during the period. Courier Capital LLC purchased a new position in D. R. Horton during the second quarter valued at approximately $224,000. Finally, HighTower Advisors LLC increased its holdings in D. R. Horton by 4.9% during the first quarter. HighTower Advisors LLC now owns 73,072 shares of the construction company’s stock valued at $2,501,000 after buying an additional 3,383 shares during the period. 83.14% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Michael W. Hewatt sold 1,000 shares of the business’s stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $53.45, for a total transaction of $53,450.00. Following the completion of the transaction, the director now directly owns 1,000 shares in the company, valued at $53,450. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.96% of the company’s stock.
D. R. Horton (NYSE:DHI) last posted its earnings results on Tuesday, July 28th. The construction company reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.42. The company had revenue of $5.39 billion during the quarter, compared to the consensus estimate of $4.99 billion. D. R. Horton had a net margin of 10.82% and a return on equity of 18.53%. The firm’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.26 earnings per share. Research analysts expect that D. R. Horton Inc will post 4.98 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Wednesday, August 12th will be given a dividend of $0.175 per share. The ex-dividend date of this dividend is Tuesday, August 11th. This represents a $0.70 dividend on an annualized basis and a yield of 1.06%. D. R. Horton’s dividend payout ratio is presently 16.32%.
DHI has been the subject of several recent analyst reports. JPMorgan Chase & Co. downgraded shares of D. R. Horton from an “overweight” rating to a “neutral” rating and set a $59.00 target price for the company. in a research note on Thursday, June 11th. ValuEngine downgraded shares of D. R. Horton from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 2nd. KeyCorp raised their target price on shares of D. R. Horton from $58.00 to $75.00 and gave the company an “overweight” rating in a research note on Wednesday. Susquehanna Bancshares downgraded shares of D. R. Horton from a “positive” rating to a “neutral” rating and raised their target price for the company from $55.00 to $62.00 in a research note on Tuesday, July 21st. Finally, Seaport Global Securities raised their target price on shares of D. R. Horton from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $65.83.
About D. R. Horton
D.R. Horton, Inc operates as a homebuilding company in East, Midwest, Southeast, South Central, Southwest, and West regions in the United States. It engages in the acquisition and development of land; and construction and sale of homes in 27 states and 81 markets in the United States under the names of D.R.
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