Park National Corp OH cut its holdings in D.R. Horton, Inc. (NYSE:DHI – Free Report) by 33.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 172,183 shares of the construction company’s stock after selling 84,711 shares during the quarter. Park National Corp OH’s holdings in D.R. Horton were worth $23,529,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. acquired a new stake in D.R. Horton in the 2nd quarter worth approximately $4,067,842,000. Capital World Investors increased its position in shares of D.R. Horton by 22.1% in the 4th quarter. Capital World Investors now owns 36,948,434 shares of the construction company’s stock valued at $5,321,849,000 after acquiring an additional 6,695,592 shares during the period. Bank of America Corp DE acquired a new position in shares of D.R. Horton in the 2nd quarter valued at $477,358,000. Bank of New York Mellon Corp purchased a new position in D.R. Horton in the 2nd quarter worth $294,292,000. Finally, Legal & General Group Plc acquired a new stake in D.R. Horton during the 2nd quarter worth about $280,664,000. Institutional investors and hedge funds own 90.63% of the company’s stock.
D.R. Horton Price Performance
Shares of DHI traded down $1.47 during mid-day trading on Monday, hitting $133.53. 1,395,493 shares of the company were exchanged, compared to its average volume of 2,666,433. The stock has a market cap of $37.35 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 1.92 and a beta of 1.35. D.R. Horton, Inc. has a 1-year low of $131.75 and a 1-year high of $176.04. The company has a 50 day moving average of $144.06 and a 200-day moving average of $146.61. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.04 and a current ratio of 6.43.
D.R. Horton Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, August 6th were paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Thursday, August 6th. D.R. Horton’s dividend payout ratio is currently 17.13%.
Analyst Ratings Changes
Several equities analysts have recently weighed in on the stock. Zelman & Associates raised shares of D.R. Horton from a “neutral” rating to an “outperform” rating in a report on Tuesday, July 7th. Evercore set a $166.00 price objective on shares of D.R. Horton in a research report on Friday, September 25th. The Goldman Sachs Group cut D.R. Horton from a “buy” rating to an “overweight” rating in a research report on Thursday. Citigroup reaffirmed a “neutral” rating on shares of D.R. Horton in a report on Wednesday, July 22nd. Finally, Keefe, Bruyette & Woods lowered their price target on D.R. Horton from $167.00 to $160.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 22nd. Five analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $162.62.
Get Our Latest Stock Analysis on DHI
About D.R. Horton
D.R. Horton, Inc is one of the largest homebuilding companies in the United States. Founded in 1978 by Donald R. Horton, the company develops and constructs single-family homes, townhomes and other residential properties for a range of buyers, including first-time, move-up and active-adult households.
The company operates through several homebuilding brands, including D.R. Horton, Express Homes, Emerald Homes and Freedom Homes. Its offerings generally span entry-level and affordable homes, move-up residences, luxury properties and age-qualified communities.
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