Bank of New York Mellon Corp Sells 49,007 Shares of D.R. Horton, Inc. (NYSE:DHI)

Posted by MarketBeat News on Mar 18th, 2023

Bank of New York Mellon Corp lessened its holdings in shares of D.R. Horton, Inc. (NYSE:DHI – Get Rating) by 1.9% in the third quarter, HoldingsChannel.com reports. The firm owned 2,473,876 shares of the construction company’s stock after selling 49,007 shares during the period. Bank of New York Mellon Corp’s holdings in D.R. Horton were worth $166,617,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of DHI. Fairfield Bush & CO. bought a new stake in D.R. Horton during the 1st quarter valued at $28,000. American Century Companies Inc. increased its stake in D.R. Horton by 13.9% during the 1st quarter. American Century Companies Inc. now owns 22,684 shares of the construction company’s stock valued at $1,690,000 after purchasing an additional 2,771 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in D.R. Horton by 10.7% during the 1st quarter. Panagora Asset Management Inc. now owns 10,075 shares of the construction company’s stock worth $751,000 after acquiring an additional 973 shares during the last quarter. Sei Investments Co. boosted its holdings in D.R. Horton by 21.1% during the 1st quarter. Sei Investments Co. now owns 300,024 shares of the construction company’s stock worth $22,425,000 after acquiring an additional 52,320 shares during the last quarter. Finally, Prudential PLC purchased a new position in D.R. Horton during the 1st quarter worth $560,000. Institutional investors own 84.87% of the company’s stock.

D.R. Horton Price Performance

NYSE DHI opened at $97.44 on Friday. The company has a market cap of $33.46 billion, a PE ratio of 6.04, a price-to-earnings-growth ratio of 0.69 and a beta of 1.51. D.R. Horton, Inc. has a 52 week low of $59.25 and a 52 week high of $104.14. The company has a quick ratio of 1.09, a current ratio of 6.67 and a debt-to-equity ratio of 0.28. The firm’s 50-day simple moving average is $95.42 and its two-hundred day simple moving average is $84.37.

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D.R. Horton (NYSE:DHI – Get Rating) last released its quarterly earnings data on Tuesday, January 24th. The construction company reported $2.76 EPS for the quarter, beating the consensus estimate of $2.27 by $0.49. The business had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $6.43 billion. D.R. Horton had a net margin of 16.85% and a return on equity of 29.91%. The company’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.17 earnings per share. Research analysts predict that D.R. Horton, Inc. will post 9.1 earnings per share for the current year.

D.R. Horton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. Stockholders of record on Tuesday, February 7th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Monday, February 6th. D.R. Horton’s dividend payout ratio is presently 6.20%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Oppenheimer assumed coverage on shares of D.R. Horton in a report on Wednesday, January 18th. They set a “market perform” rating on the stock. KeyCorp lifted their price objective on shares of D.R. Horton from $97.00 to $109.00 and gave the stock an “overweight” rating in a report on Thursday, January 26th. Wedbush downgraded shares of D.R. Horton from an “outperform” rating to a “neutral” rating and cut their price objective for the stock from $104.00 to $96.00 in a report on Wednesday, January 25th. BTIG Research lifted their price objective on shares of D.R. Horton from $101.00 to $108.00 and gave the stock a “buy” rating in a report on Wednesday, January 25th. Finally, Barclays boosted their price target on shares of D.R. Horton from $108.00 to $114.00 and gave the stock an “overweight” rating in a report on Wednesday, January 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, D.R. Horton has an average rating of “Hold” and an average target price of $98.27.

Insider Activity

In other news, VP Aron M. Odom sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $96.16, for a total transaction of $96,160.00. Following the sale, the vice president now directly owns 3,083 shares in the company, valued at $296,461.28. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Barbara K. Allen sold 449 shares of the company’s stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $96.00, for a total value of $43,104.00. Following the transaction, the director now directly owns 5,650 shares in the company, valued at $542,400. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Aron M. Odom sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The stock was sold at an average price of $96.16, for a total transaction of $96,160.00. Following the completion of the transaction, the vice president now owns 3,083 shares in the company, valued at $296,461.28. The disclosure for this sale can be found here. Insiders have sold a total of 33,667 shares of company stock worth $3,042,476 over the last ninety days. Company insiders own 0.61% of the company’s stock.

D.R. Horton Company Profile

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D.R. Horton, Inc operates as a home building company, which engages in the construction and sale of single-family housing. It operates through the following segments: Homebuilding, Forestar, Financial Services, Rental, and Others. The Homebuilding segment includes the acquisition and development of land and the construction and sale of residential homes.