Corsair Capital Management L.P. cut its position in shares of D. R. Horton Inc (NYSE:DHI) by 38.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 17,242 shares of the construction company’s stock after selling 10,856 shares during the quarter. Corsair Capital Management L.P.’s holdings in D. R. Horton were worth $727,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Qube Research & Technologies Ltd increased its position in D. R. Horton by 2,033.5% during the second quarter. Qube Research & Technologies Ltd now owns 3,883 shares of the construction company’s stock worth $159,000 after buying an additional 3,701 shares in the last quarter. River Wealth Advisors LLC purchased a new position in D. R. Horton during the third quarter worth $160,000. Piedmont Investment Advisors LLC purchased a new position in D. R. Horton during the second quarter worth $162,000. Hollencrest Capital Management purchased a new position in D. R. Horton during the third quarter worth $205,000. Finally, Zeke Capital Advisors LLC purchased a new position in D. R. Horton during the third quarter worth $223,000. 79.23% of the stock is owned by hedge funds and other institutional investors.
Several research firms have weighed in on DHI. Barclays set a $51.00 price target on D. R. Horton and gave the stock a “buy” rating in a research report on Friday, September 14th. ValuEngine raised D. R. Horton from a “sell” rating to a “hold” rating in a research report on Thursday. JMP Securities set a $47.00 price target on D. R. Horton and gave the stock a “buy” rating in a research report on Tuesday, October 9th. Wedbush reissued an “outperform” rating and set a $47.00 price target on shares of D. R. Horton in a research report on Friday, September 14th. Finally, Royal Bank of Canada set a $38.00 price target on D. R. Horton and gave the stock a “hold” rating in a research report on Friday, November 9th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $47.86.
D. R. Horton (NYSE:DHI) last announced its quarterly earnings data on Thursday, November 8th. The construction company reported $1.22 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.22. The business had revenue of $4.51 billion during the quarter, compared to the consensus estimate of $4.56 billion. D. R. Horton had a return on equity of 18.27% and a net margin of 9.09%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.82 earnings per share. On average, research analysts anticipate that D. R. Horton Inc will post 4.27 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 26th will be given a $0.15 dividend. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.62%. This is an increase from D. R. Horton’s previous quarterly dividend of $0.13. D. R. Horton’s payout ratio is currently 14.67%.
In other news, CFO Bill W. Wheat sold 12,892 shares of D. R. Horton stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $37.71, for a total value of $486,157.32. Following the completion of the sale, the chief financial officer now owns 145,180 shares of the company’s stock, valued at $5,474,737.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 7.20% of the stock is owned by insiders.
D. R. Horton Profile
D.R. Horton, Inc operates as a homebuilding company in East, Midwest, Southeast, South Central, Southwest, and West America. It engages in the acquisition and development of land; and construction and sale of homes in 26 states and 79 markets in the United States under the names of D.R. Horton, America's Builder, Express Homes, Emerald Homes, Freedom Homes, and Pacific Ridge Homes.
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