JPMorgan Chase & Co. Sells 3,807,213 Shares of D.R. Horton, Inc. $DHI

JPMorgan Chase & Co. lowered its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 35.6% in the fourth quarter, HoldingsChannel reports. The firm owned 6,893,181 shares of the construction company’s stock after selling 3,807,213 shares during the period. JPMorgan Chase & Co.’s holdings in D.R. Horton were worth $992,825,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Core Wealth Advisors LLC bought a new position in D.R. Horton during the fourth quarter worth about $25,000. Sound Income Strategies LLC bought a new position in D.R. Horton during the fourth quarter worth about $27,000. Elevated Capital Advisors LLC bought a new position in D.R. Horton during the fourth quarter worth about $27,000. Ameriflex Group Inc. bought a new position in D.R. Horton during the third quarter worth about $31,000. Finally, First Horizon Corp lifted its position in D.R. Horton by 81.3% during the fourth quarter. First Horizon Corp now owns 223 shares of the construction company’s stock worth $32,000 after acquiring an additional 100 shares during the last quarter. Institutional investors own 90.63% of the company’s stock.

D.R. Horton Trading Up 4.9%

Shares of DHI stock opened at $151.28 on Wednesday. The firm has a 50 day moving average price of $145.97 and a two-hundred day moving average price of $149.74. The company has a quick ratio of 0.97, a current ratio of 6.46 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $42.90 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 2.02 and a beta of 1.37. D.R. Horton, Inc. has a 12-month low of $119.54 and a 12-month high of $184.54.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Tuesday, April 21st. The construction company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.15 by $0.09. D.R. Horton had a net margin of 9.51% and a return on equity of 12.94%. The company had revenue of $7.56 billion during the quarter, compared to the consensus estimate of $7.55 billion. During the same period in the previous year, the business earned $2.58 earnings per share. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, analysts predict that D.R. Horton, Inc. will post 10.57 earnings per share for the current year.

D.R. Horton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Thursday, May 7th. D.R. Horton’s payout ratio is presently 16.87%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on DHI shares. The Goldman Sachs Group raised their price objective on shares of D.R. Horton from $172.00 to $190.00 and gave the stock a “buy” rating in a research report on Tuesday, April 21st. Royal Bank Of Canada raised their price objective on shares of D.R. Horton from $117.00 to $123.00 and gave the stock an “underperform” rating in a research report on Wednesday, April 22nd. UBS Group raised their price objective on shares of D.R. Horton from $193.00 to $206.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Citigroup raised their price objective on shares of D.R. Horton from $162.00 to $173.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Finally, Wells Fargo & Company raised their price objective on shares of D.R. Horton from $147.00 to $170.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 22nd. Four equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $168.54.

D.R. Horton Company Profile

D.R. Horton, Inc is a national homebuilding company that designs, constructs and sells new residential properties across the United States. The company’s core operations focus on building single-family detached homes, townhomes and condominiums for a range of buyer segments. In addition to home construction and sales, D.R. Horton provides complementary services through subsidiaries that support the mortgage, title and closing processes for its customers, enabling integrated transaction workflows from inventory development to home delivery.

Founded in 1978 by Donald R.