Bank of New York Mellon Corp Cuts Position in D.R. Horton, Inc. $DHI

Bank of New York Mellon Corp lowered its holdings in shares of D.R. Horton, Inc. (NYSE:DHI) by 2.7% in the first quarter, HoldingsChannel.com reports. The fund owned 1,838,293 shares of the construction company’s stock after selling 51,149 shares during the quarter. Bank of New York Mellon Corp’s holdings in D.R. Horton were worth $252,250,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of DHI. Core Wealth Advisors LLC purchased a new position in shares of D.R. Horton during the 4th quarter worth about $25,000. Osbon Capital Management LLC purchased a new stake in D.R. Horton during the 4th quarter worth $26,000. Sound Income Strategies LLC bought a new position in D.R. Horton during the 4th quarter valued at $27,000. Elevated Capital Advisors LLC acquired a new position in D.R. Horton in the fourth quarter worth about $27,000. Finally, Wilkerson Advisory Group LLC acquired a new stake in shares of D.R. Horton during the 4th quarter valued at approximately $30,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.

D.R. Horton Stock Down 3.4%

DHI opened at $149.24 on Friday. The company has a market capitalization of $42.32 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 2.16 and a beta of 1.36. The company has a debt-to-equity ratio of 0.27, a current ratio of 6.46 and a quick ratio of 0.97. D.R. Horton, Inc. has a fifty-two week low of $129.22 and a fifty-two week high of $184.54. The business has a 50-day moving average of $150.54 and a 200-day moving average of $150.41.

D.R. Horton (NYSE:DHI) last posted its earnings results on Tuesday, April 21st. The construction company reported $2.24 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $7.56 billion for the quarter, compared to the consensus estimate of $7.55 billion. During the same period in the prior year, the business posted $2.58 earnings per share. The business’s quarterly revenue was down 2.3% on a year-over-year basis. Equities research analysts forecast that D.R. Horton, Inc. will post 10.6 EPS for the current fiscal year.

D.R. Horton Announces Dividend

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

Analyst Ratings Changes

DHI has been the subject of several recent research reports. Zacks Research raised D.R. Horton from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Barclays boosted their price objective on D.R. Horton from $140.00 to $141.00 and gave the company an “equal weight” rating in a research report on Tuesday. UBS Group raised their target price on D.R. Horton from $193.00 to $206.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Zelman & Associates upgraded shares of D.R. Horton from a “neutral” rating to an “outperform” rating in a research report on Tuesday, July 7th. Finally, Citigroup increased their price objective on shares of D.R. Horton from $162.00 to $173.00 and gave the stock a “neutral” rating in a report on Thursday, April 23rd. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $168.62.

About D.R. Horton

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.