Montecito Bank & Trust Takes Position in D.R. Horton, Inc. (NYSE:DHI)

Montecito Bank & Trust purchased a new position in shares of D.R. Horton, Inc. (NYSE:DHI) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,853 shares of the construction company’s stock, valued at approximately $735,000.

Several other institutional investors have also added to or reduced their stakes in DHI. Bfsg LLC boosted its position in shares of D.R. Horton by 70.5% in the second quarter. Bfsg LLC now owns 179 shares of the construction company’s stock valued at $25,000 after acquiring an additional 74 shares during the period. Signature Resources Capital Management LLC acquired a new stake in D.R. Horton in the 2nd quarter worth about $31,000. Wolff Wiese Magana LLC grew its position in shares of D.R. Horton by 1,306.7% during the 3rd quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock worth $40,000 after purchasing an additional 196 shares in the last quarter. Grove Bank & Trust increased its holdings in shares of D.R. Horton by 76.2% during the third quarter. Grove Bank & Trust now owns 215 shares of the construction company’s stock worth $41,000 after purchasing an additional 93 shares during the period. Finally, Hobbs Group Advisors LLC acquired a new stake in shares of D.R. Horton in the second quarter valued at approximately $42,000. 90.63% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DHI. Raymond James downgraded D.R. Horton from an “outperform” rating to a “market perform” rating in a research report on Thursday. BTIG Research reduced their target price on D.R. Horton from $190.00 to $186.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Evercore ISI dropped their price target on D.R. Horton from $218.00 to $204.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on shares of D.R. Horton from $180.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Royal Bank of Canada dropped their target price on shares of D.R. Horton from $154.00 to $145.00 and set an “underperform” rating for the company in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $185.87.

D.R. Horton Trading Up 0.8 %

Shares of DHI stock opened at $168.11 on Friday. D.R. Horton, Inc. has a twelve month low of $120.10 and a twelve month high of $199.85. The stock’s fifty day simple moving average is $185.40 and its 200 day simple moving average is $165.98. The company has a quick ratio of 1.61, a current ratio of 7.32 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $54.78 billion, a P/E ratio of 11.71, a P/E/G ratio of 0.57 and a beta of 1.74.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing the consensus estimate of $4.17 by ($0.25). The firm had revenue of $10 billion for the quarter, compared to the consensus estimate of $10.22 billion. D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the firm posted $4.45 earnings per share. As a group, sell-side analysts predict that D.R. Horton, Inc. will post 15.64 EPS for the current fiscal year.

D.R. Horton Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, November 12th. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s payout ratio is 8.36%.

D.R. Horton declared that its Board of Directors has initiated a stock buyback program 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.