Retirement Systems of Alabama Lowers Stock Holdings in D.R. Horton, Inc. (NYSE:DHI)

Posted by on Jul 24th, 2023

Retirement Systems of Alabama cut its holdings in D.R. Horton, Inc. (NYSE:DHI – Free Report) by 7.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 92,363 shares of the construction company’s stock after selling 7,909 shares during the quarter. Retirement Systems of Alabama’s holdings in D.R. Horton were worth $9,023,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Fairfield Bush & CO. acquired a new stake in shares of D.R. Horton in the first quarter worth approximately $28,000. American Century Companies Inc. grew its holdings in shares of D.R. Horton by 13.9% during the first quarter. American Century Companies Inc. now owns 22,684 shares of the construction company’s stock worth $1,690,000 after buying an additional 2,771 shares in the last quarter. Panagora Asset Management Inc. raised its position in shares of D.R. Horton by 10.7% in the first quarter. Panagora Asset Management Inc. now owns 10,075 shares of the construction company’s stock valued at $751,000 after buying an additional 973 shares during the last quarter. Sei Investments Co. lifted its stake in shares of D.R. Horton by 21.1% in the first quarter. Sei Investments Co. now owns 300,024 shares of the construction company’s stock worth $22,425,000 after buying an additional 52,320 shares in the last quarter. Finally, Prudential PLC purchased a new stake in D.R. Horton during the 1st quarter valued at about $560,000. 86.67% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on DHI shares. JMP Securities boosted their target price on D.R. Horton from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday. BTIG Research upped their target price on D.R. Horton from $139.00 to $164.00 in a report on Friday. Citigroup lifted their price target on D.R. Horton from $115.00 to $124.00 in a report on Friday, April 21st. UBS Group upped their price objective on shares of D.R. Horton from $134.00 to $160.00 and gave the company a “buy” rating in a report on Friday. Finally, Barclays raised their price objective on shares of D.R. Horton from $138.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, D.R. Horton currently has a consensus rating of “Hold” and a consensus target price of $127.56.

Insider Transactions at D.R. Horton

In other D.R. Horton news, COO Michael J. Murray sold 54,000 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $110.21, for a total value of $5,951,340.00. Following the sale, the chief operating officer now directly owns 257,294 shares in the company, valued at $28,356,371.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Bill W. Wheat sold 32,000 shares of the stock in a transaction on Tuesday, June 20th. The shares were sold at an average price of $117.81, for a total value of $3,769,920.00. Following the transaction, the chief financial officer now directly owns 219,115 shares of the company’s stock, valued at approximately $25,813,938.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michael J. Murray sold 54,000 shares of D.R. Horton stock in a transaction on Wednesday, May 3rd. The stock was sold at an average price of $110.21, for a total transaction of $5,951,340.00. Following the sale, the chief operating officer now owns 257,294 shares in the company, valued at $28,356,371.74. The disclosure for this sale can be found here. In the last three months, insiders sold 126,000 shares of company stock valued at $14,207,660. Insiders own 0.61% of the company’s stock.

D.R. Horton Trading Up 1.7 %

NYSE DHI opened at $127.58 on Monday. D.R. Horton, Inc. has a one year low of $66.01 and a one year high of $132.30. The firm has a 50 day simple moving average of $116.47 and a 200-day simple moving average of $104.67. The firm has a market cap of $43.51 billion, a price-to-earnings ratio of 9.07, a PEG ratio of 0.74 and a beta of 1.54. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.27 and a current ratio of 6.97.

D.R. Horton (NYSE:DHI – Get Free Report) last released its earnings results on Thursday, July 20th. The construction company reported $3.90 EPS for the quarter, topping the consensus estimate of $2.82 by $1.08. D.R. Horton had a return on equity of 23.31% and a net margin of 14.07%. The firm had revenue of $9.73 billion during the quarter, compared to analysts’ expectations of $8.27 billion. During the same period in the previous year, the firm posted $4.67 EPS. D.R. Horton’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities research analysts anticipate that D.R. Horton, Inc. will post 11.31 EPS for the current fiscal year.

D.R. Horton Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be issued a $0.25 dividend. The ex-dividend date is Friday, August 4th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.78%. D.R. Horton’s payout ratio is 7.11%.

D.R. Horton Company Profile

(Free Report)

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 106 markets across 33 states under the names of D.R.

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Institutional Ownership by Quarter for D.R. Horton (NYSE:DHI)

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