Penobscot Investment Management Company Inc. Sells 860 Shares of D.R. Horton, Inc. (NYSE:DHI)

Penobscot Investment Management Company Inc. reduced its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 2.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,520 shares of the construction company’s stock after selling 860 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in D.R. Horton were worth $4,134,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. boosted its stake in shares of D.R. Horton by 34.7% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 46,215 shares of the construction company’s stock worth $5,875,000 after acquiring an additional 11,905 shares during the period. Omnia Family Wealth LLC boosted its stake in shares of D.R. Horton by 8.6% during the 1st quarter. Omnia Family Wealth LLC now owns 2,203 shares of the construction company’s stock worth $280,000 after acquiring an additional 175 shares during the period. Alpine Bank Wealth Management bought a new position in shares of D.R. Horton during the 1st quarter worth approximately $61,000. Golden State Wealth Management LLC boosted its stake in shares of D.R. Horton by 244.4% during the 1st quarter. Golden State Wealth Management LLC now owns 737 shares of the construction company’s stock worth $94,000 after acquiring an additional 523 shares during the period. Finally, Retirement Guys Formula LLC boosted its stake in shares of D.R. Horton by 42.9% during the 1st quarter. Retirement Guys Formula LLC now owns 12,143 shares of the construction company’s stock worth $1,544,000 after acquiring an additional 3,647 shares during the period. 90.63% of the stock is currently owned by institutional investors.

Insider Transactions at D.R. Horton

In other news, Director Michael R. Buchanan sold 2,150 shares of the business’s stock in a transaction on 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 transaction, the director now owns 2,193 shares of the company’s stock, valued at approximately $280,046.10. The trade was a 49.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.54% of the stock is owned by insiders.

D.R. Horton Price Performance

Shares of NYSE DHI opened at $127.34 on Thursday. The stock has a market capitalization of $39.12 billion, a PE ratio of 9.64, a P/E/G ratio of 4.05 and a beta of 1.37. The company has a debt-to-equity ratio of 0.26, a current ratio of 7.29 and a quick ratio of 1.15. The business has a fifty day moving average price of $123.05 and a two-hundred day moving average price of $130.49. D.R. Horton, Inc. has a fifty-two week low of $110.44 and a fifty-two week high of $199.85.

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

D.R. Horton Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, May 2nd were issued a dividend of $0.40 per share. The ex-dividend date was Friday, May 2nd. This represents a $1.60 dividend on an annualized basis and a dividend yield of 1.26%. D.R. Horton’s dividend payout ratio (DPR) is currently 12.11%.

Analyst Ratings Changes

Several brokerages have recently commented on DHI. BTIG Research reduced their target price on D.R. Horton from $171.00 to $150.00 and set a “buy” rating for the company 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 reduced their price target on D.R. Horton from $173.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Wells Fargo & Company reduced their price target on D.R. Horton from $175.00 to $160.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. JMP Securities reduced their price target on D.R. Horton from $210.00 to $180.00 and set a “market outperform” rating for the company in a research note on Monday, April 21st. Finally, Barclays reduced their price target on D.R. Horton from $120.00 to $110.00 and set an “equal weight” rating for the company in a research note on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $151.15.

D.R. Horton Company Profile

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.