Corebridge Financial Inc. Cuts Stock Holdings in D.R. Horton, Inc. (NYSE:DHI)

Corebridge Financial Inc. lowered its stake in D.R. Horton, Inc. (NYSE:DHI) by 10.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,902 shares of the construction company’s stock after selling 8,795 shares during the period. Corebridge Financial Inc.’s holdings in D.R. Horton were worth $10,333,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Golden State Equity Partners lifted its position in D.R. Horton by 435.6% in the fourth quarter. Golden State Equity Partners now owns 3,899 shares of the construction company’s stock valued at $545,000 after purchasing an additional 3,171 shares during the last quarter. Toronto Dominion Bank raised its holdings in D.R. Horton by 17.3% during the 3rd quarter. Toronto Dominion Bank now owns 104,969 shares of the construction company’s stock valued at $20,025,000 after buying an additional 15,460 shares during the last quarter. Pensionfund Sabic boosted its position in D.R. Horton by 70.2% during the 4th quarter. Pensionfund Sabic now owns 9,700 shares of the construction company’s stock valued at $1,356,000 after buying an additional 4,000 shares during the period. Benjamin Edwards Inc. grew its holdings in D.R. Horton by 904.4% in the 3rd quarter. Benjamin Edwards Inc. now owns 40,847 shares of the construction company’s stock worth $7,795,000 after acquiring an additional 36,780 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in shares of D.R. Horton by 10.9% in the fourth quarter. Park Avenue Securities LLC now owns 28,056 shares of the construction company’s stock valued at $3,923,000 after acquiring an additional 2,767 shares during the period. Institutional investors own 90.63% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wells Fargo & Company reduced their price target on D.R. Horton from $190.00 to $175.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. StockNews.com upgraded D.R. Horton from a “sell” rating to a “hold” rating in a report on Saturday, January 25th. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $125.00 price target on shares of D.R. Horton in a research note on Wednesday, January 22nd. Citigroup reduced their price objective on shares of D.R. Horton from $185.00 to $152.00 and set a “neutral” rating on the stock in a research report on Monday, January 6th. Finally, JPMorgan Chase & Co. cut shares of D.R. Horton from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $188.00 to $156.00 in a research report on Friday, December 13th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, D.R. Horton currently has an average rating of “Hold” and a consensus target price of $170.93.

D.R. Horton Price Performance

DHI stock opened at $129.38 on Thursday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.09 and a current ratio of 6.92. The firm has a market capitalization of $40.77 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 0.54 and a beta of 1.80. The firm has a 50 day moving average price of $133.67 and a 200-day moving average price of $155.84. D.R. Horton, Inc. has a 52-week low of $124.23 and a 52-week high of $199.85.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Tuesday, January 21st. The construction company reported $2.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.37 by $0.24. D.R. Horton had a return on equity of 18.48% and a net margin of 12.69%. The business had revenue of $7.61 billion during the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the previous year, the business earned $2.82 earnings per share. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. Equities research analysts forecast that D.R. Horton, Inc. will post 13.04 EPS for the current fiscal year.

D.R. Horton Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Friday, February 7th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $1.60 dividend on an annualized basis and a yield of 1.24%. D.R. Horton’s dividend payout ratio is currently 11.31%.

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.