D.A. Davidson & CO. Has $10.14 Million Stock Position in D.R. Horton, Inc. (NYSE:DHI)

D.A. Davidson & CO. raised its holdings in D.R. Horton, Inc. (NYSE:DHI) by 6.8% during the first quarter, HoldingsChannel reports. The firm owned 79,730 shares of the construction company’s stock after acquiring an additional 5,066 shares during the quarter. D.A. Davidson & CO.’s holdings in D.R. Horton were worth $10,136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in D.R. Horton in the fourth quarter valued at about $593,363,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of D.R. Horton by 652.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,981,609 shares of the construction company’s stock worth $252,477,000 after acquiring an additional 1,718,094 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of D.R. Horton by 71.5% during the 4th quarter. Franklin Resources Inc. now owns 3,574,409 shares of the construction company’s stock valued at $499,774,000 after purchasing an additional 1,490,648 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of D.R. Horton by 19,102.6% during the 1st quarter. GAMMA Investing LLC now owns 916,734 shares of the construction company’s stock valued at $116,544,000 after purchasing an additional 911,960 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in D.R. Horton by 1,838.0% in the 4th quarter. Two Sigma Investments LP now owns 877,644 shares of the construction company’s stock valued at $122,712,000 after purchasing an additional 832,358 shares during the last quarter. Institutional investors own 90.63% of the company’s stock.

Insider Buying and Selling

In other D.R. Horton news, Director Michael R. Buchanan sold 2,150 shares of the stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $127.70, for a total transaction of $274,555.00. Following the completion of the sale, the director directly owned 2,193 shares in the company, valued at approximately $280,046.10. This trade represents a 49.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on DHI shares. BTIG Research decreased their target price on shares of D.R. Horton from $171.00 to $150.00 and set a “buy” rating on the stock in a research note 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. The Goldman Sachs Group cut their price objective on D.R. Horton from $173.00 to $150.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Barclays reduced their price objective on D.R. Horton from $120.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. dropped their target price on 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. Finally, Keefe, Bruyette & Woods reduced their price target on D.R. Horton from $165.00 to $135.00 and set a “market perform” rating on the stock in a report on Tuesday, April 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $151.15.

D.R. Horton Trading Down 2.6%

Shares of DHI stock opened at $132.08 on Friday. D.R. Horton, Inc. has a 1-year low of $110.44 and a 1-year high of $199.85. The company has a current ratio of 7.29, a quick ratio of 1.15 and a debt-to-equity ratio of 0.26. The stock has a market cap of $40.57 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 4.24 and a beta of 1.38. The stock has a 50-day moving average of $124.00 and a 200-day moving average of $129.57.

D.R. Horton (NYSE:DHI) last released its earnings results on Thursday, April 17th. The construction company reported $2.58 earnings per share for the quarter, missing analysts’ consensus estimates of $2.69 by ($0.11). The firm had revenue of $7.73 billion for the quarter, compared to analyst estimates of $8.07 billion. D.R. Horton had a net margin of 12.15% and a return on equity of 16.95%. During the same period in the prior year, the company posted $3.52 EPS. On average, equities research analysts forecast that D.R. Horton, Inc. will post 13.04 earnings per share for the current year.

D.R. Horton Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Friday, May 2nd were issued a $0.40 dividend. The ex-dividend date of this dividend was Friday, May 2nd. This represents a $1.60 annualized dividend and a yield of 1.21%. D.R. Horton’s payout ratio is 12.11%.

About D.R. Horton

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.