M&T Bank Corp Lowers Stake in D.R. Horton Inc. (DHI)
M&T Bank Corp reduced its stake in D.R. Horton Inc. (NYSE:DHI) by 3.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 149,466 shares of the company’s stock after selling 4,616 shares during the period. M&T Bank Corp’s holdings in D.R. Horton were worth $4,514,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of DHI. BKD Wealth Advisors LLC raised its stake in D.R. Horton by 2.3% in the second quarter. BKD Wealth Advisors LLC now owns 7,389 shares of the company’s stock worth $233,000 after buying an additional 167 shares during the period. Alpha Windward LLC bought a new stake in D.R. Horton during the second quarter worth $458,000. Chevy Chase Trust Holdings Inc. raised its stake in D.R. Horton by 1.5% in the second quarter. Chevy Chase Trust Holdings Inc. now owns 282,010 shares of the company’s stock worth $8,878,000 after buying an additional 4,216 shares during the period. Exxonmobil Investment Management Inc. TX raised its stake in D.R. Horton by 6.6% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 85,452 shares of the company’s stock worth $2,690,000 after buying an additional 5,326 shares during the period. Finally, DNB Asset Management AS raised its stake in D.R. Horton by 4.7% in the second quarter. DNB Asset Management AS now owns 24,434 shares of the company’s stock worth $769,000 after buying an additional 1,100 shares during the period. 82.36% of the stock is owned by institutional investors and hedge funds.
Shares of D.R. Horton Inc. (NYSE:DHI) traded up 1.23% on Tuesday, reaching $28.84. The company’s stock had a trading volume of 3,425,714 shares. The stock has a market cap of $10.76 billion, a PE ratio of 12.22 and a beta of 1.17. D.R. Horton Inc. has a 12-month low of $22.97 and a 12-month high of $34.56. The firm has a 50 day moving average price of $28.67 and a 200-day moving average price of $30.77.
D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.75 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by $0.02. The company earned $3.70 billion during the quarter, compared to the consensus estimate of $2.62 billion. D.R. Horton had a return on equity of 13.93% and a net margin of 7.29%. The company’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.64 earnings per share. Equities research analysts expect that D.R. Horton Inc. will post $2.67 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Monday, November 28th will be given a dividend of $0.10 per share. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.08. This represents a $0.40 annualized dividend and a yield of 1.39%. The ex-dividend date is Wednesday, November 23rd. D.R. Horton’s dividend payout ratio is currently 17.02%.
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DHI has been the subject of a number of recent analyst reports. Bank of America Corp. upgraded D.R. Horton from a “neutral” rating to a “buy” rating and upped their target price for the company from $35.05 to $36.00 in a report on Tuesday, September 13th. Wedbush initiated coverage on D.R. Horton in a report on Monday, September 19th. They set an “outperform” rating and a $36.00 target price for the company. Wells Fargo & Co. initiated coverage on D.R. Horton in a report on Wednesday, September 28th. They set an “outperform” rating for the company. FBN Securities upgraded D.R. Horton from an “underperform” rating to a “sector perform” rating and upped their target price for the company from $25.00 to $27.50 in a report on Monday, October 10th. Finally, Vetr downgraded D.R. Horton from a “sell” rating to a “strong sell” rating and set a $25.52 target price for the company. in a report on Monday, November 21st. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $31.93.
In related news, Director Michael W. Hewatt sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 31st. The stock was sold at an average price of $31.87, for a total transaction of $159,350.00. Following the transaction, the director now directly owns 5,000 shares of the company’s stock, valued at approximately $159,350. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.17% of the company’s stock.
About D.R. Horton
D.R. Horton, Inc is a homebuilding company. The Company is engaged in the acquisition and development of land and the construction and sale of residential homes, through its operating divisions in around 27 states and over 79 metropolitan markets of the United States, under the names of D.R. Horton, America’s Builder, Express Homes, Emerald Homes, Breland Homes, Regent Homes, Crown Communities and Pacific Ridge Homes.
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