Allspring Global Investments Holdings LLC Lowers Stock Holdings in D.R. Horton, Inc. $DHI

Allspring Global Investments Holdings LLC lessened its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 61.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 584,992 shares of the construction company’s stock after selling 937,470 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in D.R. Horton were worth $80,875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of DHI. Core Wealth Advisors LLC acquired a new stake in shares of D.R. Horton in the 4th quarter valued at approximately $25,000. Osbon Capital Management LLC acquired a new position in D.R. Horton during the fourth quarter worth $26,000. Sound Income Strategies LLC purchased a new position in D.R. Horton in the fourth quarter worth $27,000. Elevated Capital Advisors LLC acquired a new stake in D.R. Horton in the fourth quarter valued at $27,000. Finally, Wilkerson Advisory Group LLC acquired a new stake in D.R. Horton in the fourth quarter valued at $30,000. 90.63% of the stock is owned by institutional investors and hedge funds.

D.R. Horton Stock Down 3.4%

Shares of NYSE:DHI opened at $149.24 on Friday. The stock has a 50-day simple moving average of $150.54 and a 200-day simple moving average of $150.41. The stock has a market capitalization of $42.32 billion, a P/E ratio of 13.99, a PEG ratio of 2.16 and a beta of 1.36. D.R. Horton, Inc. has a 1 year low of $129.22 and a 1 year high of $184.54. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.97 and a current ratio of 6.46.

D.R. Horton (NYSE:DHI) last posted its earnings results on Tuesday, April 21st. The construction company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.15 by $0.09. D.R. Horton had a net margin of 9.51% and a return on equity of 12.94%. The business had revenue of $7.56 billion for the quarter, compared to analyst estimates of $7.55 billion. During the same quarter in the previous year, the business posted $2.58 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. Equities analysts forecast that D.R. Horton, Inc. will post 10.6 earnings per share for the current year.

D.R. Horton Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 14th. Stockholders of record on Thursday, May 7th were given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Thursday, May 7th. D.R. Horton’s payout ratio is presently 16.87%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on DHI shares. Truist Financial increased their target price on shares of D.R. Horton from $140.00 to $150.00 and gave the company a “hold” rating in a report on Wednesday, April 22nd. Royal Bank Of Canada boosted their price target on D.R. Horton from $117.00 to $123.00 and gave the stock an “underperform” rating in a research note on Wednesday, April 22nd. Seaport Research Partners reaffirmed a “neutral” rating on shares of D.R. Horton in a research note on Tuesday, April 7th. Zacks Research raised D.R. Horton from a “strong sell” rating to a “hold” rating in a report on Friday, March 27th. Finally, Weiss Ratings downgraded D.R. Horton from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, May 21st. Five analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $168.62.

About D.R. Horton

D.R. Horton, Inc is a national homebuilding company that designs, constructs and sells new residential properties across the United States. The company’s core operations focus on building single-family detached homes, townhomes and condominiums for a range of buyer segments. In addition to home construction and sales, D.R. Horton provides complementary services through subsidiaries that support the mortgage, title and closing processes for its customers, enabling integrated transaction workflows from inventory development to home delivery.

Founded in 1978 by Donald R.