Bank of Nova Scotia Sells 245,012 Shares of D.R. Horton, Inc. $DHI

Bank of Nova Scotia lessened its position in D.R. Horton, Inc. (NYSE:DHI) by 71.7% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 96,576 shares of the construction company’s stock after selling 245,012 shares during the period. Bank of Nova Scotia’s holdings in D.R. Horton were worth $12,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently bought and sold shares of DHI. Twin Capital Management Inc. increased its stake in shares of D.R. Horton by 0.3% in the second quarter. Twin Capital Management Inc. now owns 23,330 shares of the construction company’s stock worth $3,008,000 after purchasing an additional 78 shares during the period. Mutual Advisors LLC grew its holdings in D.R. Horton by 4.8% in the 2nd quarter. Mutual Advisors LLC now owns 1,749 shares of the construction company’s stock valued at $225,000 after buying an additional 80 shares during the last quarter. Horizon Investments LLC increased its position in D.R. Horton by 1.5% in the 1st quarter. Horizon Investments LLC now owns 5,586 shares of the construction company’s stock worth $708,000 after buying an additional 83 shares during the period. Franchise Capital Ltd lifted its holdings in shares of D.R. Horton by 15.7% during the second quarter. Franchise Capital Ltd now owns 626 shares of the construction company’s stock worth $81,000 after buying an additional 85 shares during the last quarter. Finally, Generali Investments Towarzystwo Funduszy Inwestycyjnych boosted its position in shares of D.R. Horton by 5.3% in the second quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 2,000 shares of the construction company’s stock valued at $258,000 after acquiring an additional 100 shares during the period. Institutional investors and hedge funds own 90.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on DHI. Evercore ISI set a $169.00 target price on shares of D.R. Horton and gave the stock an “in-line” rating in a research report on Tuesday, October 7th. Weiss Ratings restated a “hold (c)” rating on shares of D.R. Horton in a report on Monday. Royal Bank Of Canada upped their price objective on shares of D.R. Horton from $117.00 to $118.00 and gave the company an “underperform” rating in a research report on Wednesday, October 29th. Citigroup reiterated a “market outperform” rating on shares of D.R. Horton in a research note on Thursday, October 30th. Finally, UBS Group boosted their price target on D.R. Horton from $187.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, D.R. Horton currently has an average rating of “Hold” and an average target price of $161.08.

D.R. Horton Stock Performance

NYSE DHI opened at $155.02 on Thursday. D.R. Horton, Inc. has a twelve month low of $110.44 and a twelve month high of $184.54. The company has a quick ratio of 1.18, a current ratio of 6.48 and a debt-to-equity ratio of 0.24. The stock has a market cap of $45.28 billion, a P/E ratio of 13.38, a PEG ratio of 1.78 and a beta of 1.38. The company’s 50-day simple moving average is $152.64 and its 200 day simple moving average is $149.47.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Tuesday, October 28th. The construction company reported $3.04 earnings per share for the quarter, missing analysts’ consensus estimates of $3.29 by ($0.25). D.R. Horton had a net margin of 10.47% and a return on equity of 14.39%. The company had revenue of $9.68 billion for the quarter, compared to analyst estimates of $9.44 billion. During the same period in the previous year, the firm posted $3.92 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, research analysts forecast that D.R. Horton, Inc. will post 13.04 earnings per share for the current fiscal year.

D.R. Horton Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Thursday, November 13th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 1.2%. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, November 13th. D.R. Horton’s dividend payout ratio (DPR) is currently 15.53%.

D.R. Horton 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.