Bank of Nova Scotia Trims Holdings in D.R. Horton, Inc. (NYSE:DHI)

Bank of Nova Scotia lowered its stake in shares of D.R. Horton, Inc. (NYSE:DHIGet Rating) by 61.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,746 shares of the construction company’s stock after selling 43,067 shares during the quarter. Bank of Nova Scotia’s holdings in D.R. Horton were worth $1,770,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Kentucky Retirement Systems Insurance Trust Fund increased its stake in shares of D.R. Horton by 15.0% during the 2nd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,945 shares of the construction company’s stock valued at $724,000 after acquiring an additional 1,427 shares during the last quarter. Kistler Tiffany Companies LLC increased its stake in shares of D.R. Horton by 27.8% during the 2nd quarter. Kistler Tiffany Companies LLC now owns 4,506 shares of the construction company’s stock valued at $298,000 after acquiring an additional 979 shares during the last quarter. Cannell & Co. increased its stake in shares of D.R. Horton by 10.7% during the 2nd quarter. Cannell & Co. now owns 57,125 shares of the construction company’s stock valued at $3,781,000 after acquiring an additional 5,505 shares during the last quarter. Kentucky Retirement Systems increased its stake in shares of D.R. Horton by 15.7% during the 2nd quarter. Kentucky Retirement Systems now owns 23,776 shares of the construction company’s stock valued at $1,574,000 after acquiring an additional 3,222 shares during the last quarter. Finally, Texas Permanent School Fund increased its stake in shares of D.R. Horton by 1.2% during the 2nd quarter. Texas Permanent School Fund now owns 42,312 shares of the construction company’s stock valued at $2,801,000 after acquiring an additional 486 shares during the last quarter. Institutional investors and hedge funds own 85.63% of the company’s stock.

Insider Activity

In other news, VP Aron M. Odom sold 1,300 shares of the stock in a transaction that occurred on Thursday, November 10th. The stock was sold at an average price of $83.64, for a total transaction of $108,732.00. Following the completion of the transaction, the vice president now directly owns 1,724 shares in the company, valued at approximately $144,195.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Michael R. Buchanan sold 2,167 shares of the firm’s stock in a transaction on Tuesday, September 20th. The stock was sold at an average price of $71.50, for a total transaction of $154,940.50. Following the transaction, the director now directly owns 3,378 shares in the company, valued at $241,527. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Aron M. Odom sold 1,300 shares of the firm’s stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $83.64, for a total value of $108,732.00. Following the transaction, the vice president now owns 1,724 shares in the company, valued at $144,195.36. The disclosure for this sale can be found here. Company insiders own 0.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DHI. BTIG Research dropped their target price on shares of D.R. Horton to $90.00 in a research report on Tuesday. StockNews.com began coverage on shares of D.R. Horton in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Raymond James increased their target price on shares of D.R. Horton from $77.00 to $84.00 and gave the stock an “outperform” rating in a research report on Thursday, November 10th. Royal Bank of Canada dropped their target price on shares of D.R. Horton from $70.00 to $68.00 and set a “sector perform” rating for the company in a research report on Thursday, November 10th. Finally, Wedbush dropped their target price on shares of D.R. Horton from $97.00 to $83.00 and set an “outperform” rating for the company in a research report on Monday, October 10th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, D.R. Horton has a consensus rating of “Moderate Buy” and a consensus price target of $86.54.

D.R. Horton Stock Performance

D.R. Horton stock opened at $81.59 on Friday. The stock has a market cap of $28.35 billion, a P/E ratio of 4.93, a price-to-earnings-growth ratio of 0.79 and a beta of 1.54. The company has a current ratio of 2.52, a quick ratio of 0.47 and a debt-to-equity ratio of 0.32. The stock has a 50 day moving average of $73.41 and a 200-day moving average of $72.45. D.R. Horton, Inc. has a 52 week low of $59.25 and a 52 week high of $110.45.

D.R. Horton (NYSE:DHIGet Rating) last released its earnings results on Wednesday, November 9th. The construction company reported $4.67 EPS for the quarter, missing the consensus estimate of $5.09 by ($0.42). The business had revenue of $9.64 billion for the quarter, compared to analysts’ expectations of $9.97 billion. D.R. Horton had a net margin of 17.50% and a return on equity of 32.84%. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter last year, the company posted $3.70 earnings per share. On average, analysts expect that D.R. Horton, Inc. will post 11.8 EPS for the current fiscal year.

D.R. Horton Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Friday, December 2nd will be paid a dividend of $0.25 per share. This is a boost from D.R. Horton’s previous quarterly dividend of $0.23. This represents a $1.00 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend is Thursday, December 1st. D.R. Horton’s dividend payout ratio is 5.44%.

D.R. Horton Profile

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D.R. Horton, Inc engages in the construction and sale of single-family housing. It operates through the following segments: Homebuilding, Forestar, Financial Services, and Rental. The Homebuilding segment includes the acquisition and development of land and the construction and sale of residential homes.

See Also

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

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