Argent Capital Management LLC Sells 16,660 Shares of D.R. Horton, Inc. $DHI

Key Points

• Argent Capital Management reduced its D.R. Horton stake by 3.8%, selling 16,660 shares and retaining 425,849 shares valued at approximately $58.2 million. Institutional investors collectively own 90.63% of the company.
• D.R. Horton shares fell 0.9% to $133.80, near their 12-month low of $131.75. The company recently exceeded quarterly earnings expectations, reporting $3.20 in EPS versus the $3.02 consensus and $9.23 billion in revenue.
• Analyst sentiment remains cautious: the stock has a consensus “Hold” rating and an average price target of $162.62, while several firms recently lowered their targets. D.R. Horton also pays a $0.45 quarterly dividend, yielding about 1.3%.

Argent Capital Management LLC lessened its position in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) by 3.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 425,849 shares of the construction company's stock after selling 16,660 shares during the quarter. D.R. Horton makes up about 0.4% of Argent Capital Management LLC's holdings, making the stock its 16th largest position. Argent Capital Management LLC owned about 0.15% of D.R. Horton worth $58,192,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in DHI. Silvant Capital Management LLC purchased a new position in shares of D.R. Horton during the 2nd quarter worth approximately $4,828,000. Johnson Financial Group Inc. acquired a new position in shares of D.R. Horton in the second quarter worth $6,126,000. Vise Technologies Inc. lifted its position in shares of D.R. Horton by 132.9% in the fourth quarter. Vise Technologies Inc. now owns 14,925 shares of the construction company's stock valued at $2,150,000 after acquiring an additional 8,517 shares in the last quarter. Wealthfront Advisers LLC acquired a new stake in shares of D.R. Horton during the second quarter valued at $14,622,000. Finally, BlackRock Inc. purchased a new stake in D.R. Horton during the 2nd quarter worth about $4,067,842,000. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

D.R. Horton Trading Down 0.9%

Shares of DHI traded down $1.20 during trading hours on Monday, hitting $133.80. The stock had a trading volume of 1,311,646 shares, compared to its average volume of 2,665,971. D.R. Horton, Inc. has a 12-month low of $131.75 and a 12-month high of $176.04. The firm has a market cap of $37.42 billion, a P/E ratio of 12.73, a P/E/G ratio of 1.92 and a beta of 1.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.04 and a current ratio of 6.43. The company's fifty day simple moving average is $144.06 and its 200 day simple moving average is $146.61.

D.R. Horton (NYSE:DHI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The construction company reported $3.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.02 by $0.18. The firm had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $9.10 billion. D.R. Horton had a return on equity of 12.47% and a net margin of 9.15%.The firm's quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.36 earnings per share. Equities research analysts forecast that D.R. Horton, Inc. will post 10.46 EPS for the current fiscal year.

D.R. Horton Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 1.3%. The ex-dividend date was Thursday, August 6th. D.R. Horton's payout ratio is currently 17.13%.

Analysts Set New Price Targets

DHI has been the topic of several analyst reports. Keefe, Bruyette & Woods decreased their price target on shares of D.R. Horton from $167.00 to $160.00 and set a "market perform" rating on the stock in a research note on Tuesday, September 22nd. Truist Financial decreased their target price on shares of D.R. Horton from $150.00 to $140.00 and set a "hold" rating on the stock in a research report on Wednesday, September 16th. Citigroup reissued a "neutral" rating on shares of D.R. Horton in a research note on Wednesday, July 22nd. The Goldman Sachs Group downgraded D.R. Horton from a "buy" rating to an "overweight" rating in a research report on Thursday. Finally, Morgan Stanley began coverage on D.R. Horton in a research report on Thursday. They set an "equal weight" rating and a $151.00 target price on the stock. Five research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $162.62.

About D.R. Horton

D.R. Horton, Inc is one of the largest homebuilding companies in the United States. Founded in 1978 by Donald R. Horton, the company develops and constructs single-family homes, townhomes and other residential properties for a range of buyers, including first-time, move-up and active-adult households.

The company operates through several homebuilding brands, including D.R. Horton, Express Homes, Emerald Homes and Freedom Homes. Its offerings generally span entry-level and affordable homes, move-up residences, luxury properties and age-qualified communities.

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