M&T Bank Corp Reduces Holdings in D.R. Horton, Inc. (NYSE:DHI)

M&T Bank Corp reduced its position in D.R. Horton, Inc. (NYSE:DHI) by 6.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 17,697 shares of the construction company’s stock after selling 1,233 shares during the period. M&T Bank Corp’s holdings in D.R. Horton were worth $3,375,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC lifted its stake in shares of D.R. Horton by 37,600.0% during the 2nd quarter. ORG Partners LLC now owns 377 shares of the construction company’s stock valued at $52,000 after buying an additional 376 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in shares of D.R. Horton by 1.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 18,934 shares of the construction company’s stock valued at $2,668,000 after purchasing an additional 286 shares in the last quarter. Blue Trust Inc. raised its stake in shares of D.R. Horton by 67.0% during the 2nd quarter. Blue Trust Inc. now owns 4,461 shares of the construction company’s stock valued at $629,000 after purchasing an additional 1,789 shares during the period. Brookstone Capital Management purchased a new stake in D.R. Horton during the 2nd quarter worth about $1,856,000. Finally, Everpar Advisors LLC grew its holdings in D.R. Horton by 4.4% during the 2nd quarter. Everpar Advisors LLC now owns 1,669 shares of the construction company’s stock valued at $235,000 after buying an additional 71 shares in the last quarter. 90.63% of the stock is owned by hedge funds and other institutional investors.

D.R. Horton Price Performance

DHI stock opened at $149.85 on Friday. The stock has a market capitalization of $48.13 billion, a price-to-earnings ratio of 10.44, a PEG ratio of 0.57 and a beta of 1.71. The firm’s 50-day moving average price is $171.02 and its two-hundred day moving average price is $168.78. The company has a current ratio of 7.32, a quick ratio of 1.61 and a debt-to-equity ratio of 0.23. D.R. Horton, Inc. has a 12-month low of $133.02 and a 12-month high of $199.85.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data 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 business had revenue of $10 billion during the quarter, compared to analysts’ expectations of $10.22 billion. D.R. Horton had a return on equity of 19.24% and a net margin of 12.93%. The company’s quarterly revenue was down 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.45 EPS. As a group, equities analysts predict that D.R. Horton, Inc. will post 14.17 earnings per share for the current year.

D.R. Horton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.07%. This is a boost from D.R. Horton’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Tuesday, November 12th. D.R. Horton’s dividend payout ratio (DPR) is currently 11.14%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DHI. BTIG Research cut their price objective on shares of D.R. Horton from $190.00 to $186.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Raymond James lowered shares of D.R. Horton from an “outperform” rating to a “market perform” rating in a research report on Thursday, November 7th. Keefe, Bruyette & Woods lowered D.R. Horton from an “outperform” rating to a “market perform” rating and dropped their price objective for the company from $200.00 to $183.00 in a research note on Tuesday. Wedbush raised D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 price target on the stock in a report on Tuesday, October 15th. Finally, Wells Fargo & Company cut their price objective on D.R. Horton from $220.00 to $190.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, D.R. Horton currently has an average rating of “Hold” and a consensus price target of $180.60.

Insider Activity at D.R. Horton

In other D.R. Horton news, Director Barbara K. Allen sold 5,650 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $163.10, for a total transaction of $921,515.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.74% of the stock is owned by corporate insiders.

About D.R. Horton

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.