Bank of New York Mellon Corp decreased its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 0.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 2,609,557 shares of the construction company’s stock after selling 3,092 shares during the period. Bank of New York Mellon Corp’s holdings in D.R. Horton were worth $235,826,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baxter Bros Inc. boosted its position in D.R. Horton by 53.2% in the second quarter. Baxter Bros Inc. now owns 9,268 shares of the construction company’s stock valued at $838,000 after buying an additional 3,220 shares in the last quarter. Deutsche Bank AG boosted its position in D.R. Horton by 8.0% in the second quarter. Deutsche Bank AG now owns 2,127,970 shares of the construction company’s stock valued at $192,304,000 after buying an additional 158,395 shares in the last quarter. Midwest Wealth Management Inc. raised its stake in shares of D.R. Horton by 9.5% during the second quarter. Midwest Wealth Management Inc. now owns 12,939 shares of the construction company’s stock valued at $1,169,000 after acquiring an additional 1,120 shares during the last quarter. BloombergSen Inc. raised its stake in shares of D.R. Horton by 53.5% during the second quarter. BloombergSen Inc. now owns 633,118 shares of the construction company’s stock valued at $57,215,000 after acquiring an additional 220,618 shares during the last quarter. Finally, swisspartners Ltd. raised its stake in shares of D.R. Horton by 9.9% during the second quarter. swisspartners Ltd. now owns 44,851 shares of the construction company’s stock valued at $4,054,000 after acquiring an additional 4,051 shares during the last quarter. Institutional investors and hedge funds own 81.08% of the company’s stock.
In related news, Director Michael W. Hewatt sold 2,342 shares of the business’s stock in a transaction dated Tuesday, July 27th. The shares were sold at an average price of $92.66, for a total transaction of $217,009.72. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.46% of the stock is currently owned by insiders.
D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Thursday, July 22nd. The construction company reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.81 by $0.25. D.R. Horton had a net margin of 14.06% and a return on equity of 28.04%. The business had revenue of $7.28 billion for the quarter, compared to analysts’ expectations of $7.17 billion. During the same period in the previous year, the company earned $1.72 earnings per share. The firm’s revenue for the quarter was up 35.1% compared to the same quarter last year. As a group, analysts predict that D.R. Horton, Inc. will post 11.25 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, August 17th. Investors of record on Tuesday, August 10th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 0.92%. The ex-dividend date was Monday, August 9th. D.R. Horton’s dividend payout ratio (DPR) is presently 12.99%.
Several equities analysts have recently issued reports on the stock. BTIG Research dropped their price target on shares of D.R. Horton from $123.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday. Citigroup lowered their target price on shares of D.R. Horton from $109.00 to $106.00 and set a “buy” rating for the company in a research note on Friday, July 23rd. Wedbush raised shares of D.R. Horton from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $94.00 to $125.00 in a research note on Monday, July 26th. Barclays lowered their target price on shares of D.R. Horton from $114.00 to $109.00 and set an “overweight” rating for the company in a research note on Thursday, July 15th. Finally, Royal Bank of Canada reissued a “hold” rating on shares of D.R. Horton in a research note on Friday, July 30th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $102.61.
D.R. Horton Profile
D.R. Horton, Inc engages in the construction and sale of single-family housing. It operates through the following segments: Homebuilding and Financial Services. The Homebuilding segment includes the sub-segments East, Midwest, Southeast, South Central, Southwest and West regions. The Financial Services segment provides mortgage financing and title agency services to homebuyers in many of its homebuilding markets.
Further Reading: Euro STOXX 50 Index
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