D.R. Horton, Inc. $DHI Position Cut by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA lowered its holdings in D.R. Horton, Inc. (NYSE:DHI) by 23.2% in the third quarter, Holdings Channel.com reports. The fund owned 550,382 shares of the construction company’s stock after selling 166,261 shares during the quarter. Pictet Asset Management Holding SA’s holdings in D.R. Horton were worth $75,251,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Parallel Advisors LLC grew its stake in shares of D.R. Horton by 7.9% during the 3rd quarter. Parallel Advisors LLC now owns 3,672 shares of the construction company’s stock worth $502,000 after purchasing an additional 270 shares during the period. Guidance Capital Inc. lifted its stake in shares of D.R. Horton by 5.4% in the third quarter. Guidance Capital Inc. now owns 5,935 shares of the construction company’s stock valued at $811,000 after purchasing an additional 304 shares during the period. Alps Advisors Inc. boosted its holdings in D.R. Horton by 4.4% during the third quarter. Alps Advisors Inc. now owns 2,935 shares of the construction company’s stock worth $401,000 after buying an additional 125 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in D.R. Horton by 29.4% during the third quarter. Ashton Thomas Private Wealth LLC now owns 2,207 shares of the construction company’s stock worth $302,000 after buying an additional 501 shares in the last quarter. Finally, Mader & Shannon Wealth Management Inc. grew its position in D.R. Horton by 2.9% during the third quarter. Mader & Shannon Wealth Management Inc. now owns 33,354 shares of the construction company’s stock worth $4,558,000 after buying an additional 948 shares during the period. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Truist Financial dropped their target price on shares of D.R. Horton from $150.00 to $140.00 and set a “hold” rating for the company in a report on Wednesday, September 16th. Stonex Financial raised D.R. Horton to a “hold” rating in a research note on Thursday, October 15th. Royal Bank Of Canada lowered their price target on D.R. Horton from $119.00 to $114.00 and set an “underperform” rating on the stock in a report on Friday, October 30th. Barclays dropped their price objective on D.R. Horton from $130.00 to $125.00 and set an “equal weight” rating for the company in a research note on Friday, October 30th. Finally, Wells Fargo & Company reduced their price objective on D.R. Horton from $145.00 to $140.00 and set an “equal weight” rating for the company in a report on Friday, October 16th. Five equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, D.R. Horton currently has a consensus rating of “Hold” and an average target price of $151.33.

D.R. Horton Trading Up 2.1%

Shares of D.R. Horton stock opened at $155.52 on Tuesday. D.R. Horton, Inc. has a 1 year low of $130.40 and a 1 year high of $170.79. The company has a debt-to-equity ratio of 0.26, a current ratio of 6.01 and a quick ratio of 0.95. The business has a 50 day moving average price of $141.35 and a 200 day moving average price of $147.55. The company has a market capitalization of $43.50 billion, a P/E ratio of 15.34, a P/E/G ratio of 1.81 and a beta of 1.35.

D.R. Horton (NYSE:DHI) last announced its earnings results on Thursday, October 29th. The construction company reported $2.67 EPS for the quarter, missing analysts’ consensus estimates of $3.01 by ($0.34). The company had revenue of $9.37 billion for the quarter, compared to analyst estimates of $9.07 billion. D.R. Horton had a net margin of 8.74% and a return on equity of 11.93%. D.R. Horton’s quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter last year, the company posted $3.04 EPS. Sell-side analysts anticipate that D.R. Horton, Inc. will post 10.62 EPS for the current fiscal year.

D.R. Horton Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 19th. Investors of record on Thursday, November 12th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, November 12th. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.45. D.R. Horton’s dividend payout ratio is presently 17.75%.

D.R. Horton Profile

D.R. Horton, Inc is a U.S. homebuilder founded in 1978 by Donald R. Horton. Headquartered in Arlington, Texas, the company builds and sells homes in markets across the United States.

Its homebuilding business offers single-family homes and townhomes for buyers with a range of needs and budgets. D.R. Horton markets homes under brands including D.R. Horton, Express, Emerald and Freedom, which serves active-adult buyers.

The company also provides mortgage financing and title services to homebuyers through its financial-services operations, and has a home-rental business.