Montecito Bank & Trust Has $708,000 Stake in D.R. Horton, Inc. (NYSE:DHI)

Montecito Bank & Trust increased its stake in D.R. Horton, Inc. (NYSE:DHI) by 2.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,570 shares of the construction company’s stock after purchasing an additional 131 shares during the quarter. Montecito Bank & Trust’s holdings in D.R. Horton were worth $708,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Nemes Rush Group LLC lifted its stake in shares of D.R. Horton by 74.5% in the fourth quarter. Nemes Rush Group LLC now owns 192 shares of the construction company’s stock worth $27,000 after buying an additional 82 shares during the last quarter. Kohmann Bosshard Financial Services LLC bought a new position in D.R. Horton in the 4th quarter worth $38,000. Sierra Ocean LLC acquired a new position in D.R. Horton during the 4th quarter worth $43,000. Itau Unibanco Holding S.A. bought a new stake in D.R. Horton during the fourth quarter valued at about $43,000. Finally, Oarsman Capital Inc. grew its position in shares of D.R. Horton by 146.7% in the fourth quarter. Oarsman Capital Inc. now owns 333 shares of the construction company’s stock valued at $46,000 after purchasing an additional 198 shares during the last quarter. Institutional investors own 90.63% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on DHI. BTIG Research decreased their target price on D.R. Horton from $171.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Their comments are based on a broader research note on Homebuilders ahead of the industry’s start of the earnings season. The firm is projecting a 7% decline in U.S. new home sales and a 27% average decline in earnings due to lower consumer confidence as a result of heightened uncertainty about the future in terms of both income/job security and cost of living along with still-relatively high interest rates. The Goldman Sachs Group reduced their price objective on D.R. Horton from $173.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, April 15th. Royal Bank of Canada dropped their target price on shares of D.R. Horton from $125.00 to $105.00 and set an “underperform” rating on the stock in a research report on Monday, April 21st. JMP Securities reduced their price target on shares of D.R. Horton from $210.00 to $180.00 and set a “market outperform” rating for the company in a report on Monday, April 21st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of D.R. Horton from $132.00 to $111.00 and set an “underweight” rating on the stock in a report on Monday, April 21st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, D.R. Horton presently has an average rating of “Hold” and an average price target of $151.15.

D.R. Horton Stock Up 0.4%

Shares of DHI opened at $123.57 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 6.92 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $122.37 and a two-hundred day moving average price of $131.90. The stock has a market cap of $37.96 billion, a price-to-earnings ratio of 8.73, a P/E/G ratio of 0.54 and a beta of 1.37. D.R. Horton, Inc. has a 12 month low of $110.44 and a 12 month high of $199.85.

D.R. Horton (NYSE:DHI) last posted its earnings results on Thursday, April 17th. The construction company reported $2.58 EPS for the quarter, missing the consensus estimate of $2.69 by ($0.11). D.R. Horton had a return on equity of 18.48% and a net margin of 12.69%. The company had revenue of $7.73 billion for the quarter, compared to the consensus estimate of $8.07 billion. During the same quarter last year, the business earned $3.52 EPS. Equities analysts predict that D.R. Horton, Inc. will post 13.04 EPS for the current fiscal year.

D.R. Horton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Friday, May 2nd were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 1.29%. The ex-dividend date of this dividend was Friday, May 2nd. D.R. Horton’s payout ratio is 12.11%.

D.R. Horton Company Profile

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.