Montecito Bank & Trust Invests $986,000 in D.R. Horton, Inc. $DHI

Montecito Bank & Trust purchased a new stake in D.R. Horton, Inc. (NYSE:DHI) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,819 shares of the construction company’s stock, valued at approximately $986,000.

A number of other large investors also recently added to or reduced their stakes in DHI. Sonora Investment Management Group LLC grew its position in shares of D.R. Horton by 5.3% in the third quarter. Sonora Investment Management Group LLC now owns 2,637 shares of the construction company’s stock valued at $447,000 after purchasing an additional 133 shares during the period. Oak Thistle LLC lifted its stake in D.R. Horton by 88.1% in the 3rd quarter. Oak Thistle LLC now owns 14,082 shares of the construction company’s stock valued at $2,386,000 after buying an additional 6,594 shares in the last quarter. New England Research & Management Inc. acquired a new stake in D.R. Horton in the 3rd quarter worth about $1,453,000. Central Pacific Bank Trust Division purchased a new stake in D.R. Horton during the 3rd quarter worth approximately $1,066,000. Finally, GAMMA Investing LLC raised its holdings in shares of D.R. Horton by 20.6% during the third quarter. GAMMA Investing LLC now owns 11,725 shares of the construction company’s stock valued at $1,987,000 after acquiring an additional 2,003 shares during the last quarter. 90.63% of the stock is currently owned by institutional investors and hedge funds.

D.R. Horton Trading Down 0.4%

Shares of DHI stock opened at $151.35 on Friday. The company has a current ratio of 6.48, a quick ratio of 1.18 and a debt-to-equity ratio of 0.24. D.R. Horton, Inc. has a twelve month low of $110.44 and a twelve month high of $184.54. The company’s 50-day moving average price is $151.40 and its 200-day moving average price is $150.74. The stock has a market cap of $44.06 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.81 and a beta of 1.38.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Tuesday, October 28th. The construction company reported $3.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.29 by ($0.25). The firm had revenue of $9.68 billion for the quarter, compared to analyst estimates of $9.44 billion. D.R. Horton had a return on equity of 14.39% and a net margin of 10.47%.D.R. Horton’s revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.92 earnings per share. As a group, equities analysts predict that D.R. Horton, Inc. will post 13.04 earnings per share for the current year.

D.R. Horton Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Thursday, November 13th were given a $0.45 dividend. The ex-dividend date was Thursday, November 13th. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.40. This represents a $1.80 annualized dividend and a yield of 1.2%. D.R. Horton’s dividend payout ratio (DPR) is currently 15.53%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on DHI shares. Wells Fargo & Company lowered their price target on D.R. Horton from $190.00 to $180.00 and set an “overweight” rating on the stock in a research note on Monday, December 8th. Bank of America lowered their target price on shares of D.R. Horton from $175.00 to $165.00 and set a “neutral” rating on the stock in a research note on Friday, October 10th. UBS Group increased their target price on shares of D.R. Horton from $187.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Keefe, Bruyette & Woods lowered their price target on shares of D.R. Horton from $178.00 to $175.00 and set a “market perform” rating on the stock in a research report on Wednesday, October 29th. Finally, Evercore ISI set a $169.00 price objective on shares of D.R. Horton and gave the company an “in-line” rating in a report on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $161.08.

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.