PNC Financial Services Group Inc. Lowers Position in D.R. Horton, Inc. (NYSE:DHI)

PNC Financial Services Group Inc. decreased its stake in D.R. Horton, Inc. (NYSE:DHI) by 0.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 231,713 shares of the construction company’s stock after selling 615 shares during the period. PNC Financial Services Group Inc.’s holdings in D.R. Horton were worth $44,204,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Assenagon Asset Management S.A. raised its stake in D.R. Horton by 1,761.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock worth $147,118,000 after acquiring an additional 987,834 shares during the period. Principal Financial Group Inc. raised its position in shares of D.R. Horton by 51.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock valued at $233,525,000 after purchasing an additional 561,337 shares during the period. Long Pond Capital LP lifted its stake in shares of D.R. Horton by 438.6% during the 1st quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock valued at $108,564,000 after buying an additional 537,276 shares in the last quarter. Banque Pictet & Cie SA boosted its holdings in D.R. Horton by 592.4% in the 2nd quarter. Banque Pictet & Cie SA now owns 402,923 shares of the construction company’s stock worth $56,784,000 after buying an additional 344,731 shares during the period. Finally, Bank Pictet & Cie Europe AG purchased a new stake in D.R. Horton in the 2nd quarter worth $37,613,000. Institutional investors own 90.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Bank of America upped their price objective on D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Royal Bank of Canada cut their price objective on shares of D.R. Horton from $154.00 to $145.00 and set an “underperform” rating for the company in a report on Wednesday, October 30th. UBS Group lowered their target price on shares of D.R. Horton from $217.00 to $214.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Citigroup cut their target price on shares of D.R. Horton from $186.00 to $185.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. Finally, BTIG Research decreased their price target on shares of D.R. Horton from $190.00 to $186.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $185.87.

D.R. Horton Stock Up 0.5 %

Shares of NYSE:DHI opened at $163.13 on Thursday. The firm has a market capitalization of $53.15 billion, a PE ratio of 11.36, a price-to-earnings-growth ratio of 0.58 and a beta of 1.74. The business has a 50 day simple moving average of $180.93 and a two-hundred day simple moving average of $167.30. D.R. Horton, Inc. has a 1 year low of $125.28 and a 1 year high of $199.85. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.32 and a quick ratio of 1.61.

D.R. Horton (NYSE:DHI) last released its 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 business 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 firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $4.45 earnings per share. On average, equities analysts predict that D.R. Horton, Inc. will post 14.54 EPS for the current year.

D.R. Horton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Shareholders of record on Tuesday, November 12th were paid a $0.40 dividend. This is an increase from D.R. Horton’s previous quarterly dividend of $0.30. This represents a $1.60 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Tuesday, November 12th. D.R. Horton’s dividend payout ratio is currently 11.14%.

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.