Truist Financial Corp Sells 32,757 Shares of D.R. Horton, Inc. (NYSE:DHI)

Truist Financial Corp reduced its stake in D.R. Horton, Inc. (NYSE:DHI) by 30.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,725 shares of the construction company’s stock after selling 32,757 shares during the quarter. Truist Financial Corp’s holdings in D.R. Horton were worth $10,531,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. First Trust Advisors LP boosted its position in D.R. Horton by 1.0% during the 4th quarter. First Trust Advisors LP now owns 343,380 shares of the construction company’s stock worth $52,187,000 after acquiring an additional 3,454 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in D.R. Horton by 3.4% during the fourth quarter. 1832 Asset Management L.P. now owns 31,464 shares of the construction company’s stock worth $4,782,000 after purchasing an additional 1,038 shares during the last quarter. Public Employees Retirement Association of Colorado grew its position in D.R. Horton by 604.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 35,637 shares of the construction company’s stock valued at $5,416,000 after purchasing an additional 30,581 shares in the last quarter. Morningstar Investment Services LLC acquired a new stake in D.R. Horton in the 4th quarter valued at $235,000. Finally, Azimuth Capital Investment Management LLC bought a new stake in D.R. Horton during the 4th quarter worth about $219,000. 90.63% of the stock is owned by institutional investors.

D.R. Horton Stock Down 2.9 %

D.R. Horton stock opened at $184.64 on Friday. The company’s 50-day moving average price is $184.83 and its two-hundred day moving average price is $161.97. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. The stock has a market cap of $60.80 billion, a P/E ratio of 12.57, a P/E/G ratio of 0.89 and a beta of 1.72. D.R. Horton, Inc. has a twelve month low of $100.08 and a twelve month high of $199.85.

D.R. Horton (NYSE:DHI) last announced its earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.75 by $0.35. The company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. D.R. Horton had a return on equity of 20.72% and a net margin of 13.36%. The firm’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.90 earnings per share. As a group, analysts expect that D.R. Horton, Inc. will post 14.03 EPS for the current year.

D.R. Horton announced that its board has authorized a share repurchase plan on Thursday, July 18th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board believes its stock is undervalued.

D.R. Horton Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were paid a $0.30 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.65%. D.R. Horton’s dividend payout ratio (DPR) is presently 8.17%.

Analysts Set New Price Targets

A number of analysts recently issued reports on DHI shares. Barclays lifted their target price on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Evercore ISI boosted their price target on D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, July 15th. Citigroup downgraded D.R. Horton from a “buy” rating to a “neutral” rating and cut their price objective for the company from $181.00 to $156.00 in a report on Tuesday, July 2nd. JPMorgan Chase & Co. boosted their target price on shares of D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company increased their price target on shares of D.R. Horton from $210.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 26th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $183.33.

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.