Greenhaven Associates 13F: Adds $34M to D.R. Horton (DHI) Stake
Key Points
- Greenhaven Associates boosted its stake in D.R. Horton by 248,044 shares, now holding 3,753,844 shares worth about $512.96 million.
- The stock is trading recently around $146.52, which is about equal to its closing price on the filing date.
- Analysts have mixed views on D.R. Horton, with a consensus rating of 'hold' and a mean target price of $152.36.
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Greenhaven Associates has increased its stake in D.R. Horton, Inc. (DHI) by 248,044 shares, bringing its total holdings to 3,753,844 shares valued at approximately $512.96 million. This change was disclosed in a filing on October 26, 2026.
DHI
D.R. Horton, Inc.
What Changed in Greenhaven Associates' D.R. Horton Position
In its latest filing, Greenhaven Associates reported a 7.1% increase in its D.R. Horton position. The fund now holds shares worth 18.2% of its total reported portfolio of $2.82 billion, ranking it third among its 27 positions.
Where D.R. Horton Fits in Greenhaven Associates' Portfolio
D.R. Horton represents a significant part of Greenhaven's portfolio, with its 3,753,844 shares making up 18.2% of the total.
Other Institutional Activity in D.R. Horton
Allspring Global Investments Holdings reduced its stake in D.R. Horton, selling 937,470 shares and ending up with 584,992 shares valued at about $97.28 million. Similarly, Integrated Advisors Network cut its holdings by 13,757 shares, now holding just 1,492 shares worth approximately $203,895.
D.R. Horton, Inc. Stock Down 0.7%
As of October 27, 2026, D.R. Horton shares are trading at $146.52, roughly equal to the closing price on October 26, 2026. The stock is currently above its 50-day moving average by about 3.9% but below its 200-day average by 0.9%. Compared to its 52-week high, it is down 14.2% but up 12.4% from its 52-week low.
Recent Earnings
D.R. Horton reported trailing twelve-month revenue of approximately $33.35 billion, with earnings per share (EPS) of $10.49. The next earnings report is scheduled for October 29, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
7 analysts raised price targets.
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EPS & revenue
EPS beat estimates by 3.0%. Revenue missed estimates by 1.5%.
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Profit surprise
EBITDA missed by 16 percent. Operating income missed by 12 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
7 target raises.
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Earnings quality
Gross margin down 2.0 points. Operating margin down 2.4 points. Positive free cash flow.
Earnings Call Summary
The company delivered a solid first quarter with $6.9 billion in revenue and $2.24 in earnings per share, beating profit expectations but falling short on sales. Orders rose 3 percent and community count jumped 12 percent year over year, reflecting broad expansion. However, management noted that incentives and rate buy-downs increased throughout the quarter and will weigh on second quarter margins, with the lowest fixed rate offer staying at 3.099 percent. Management remains cautious about affordability and demand uncertainty but feels positioned for the spring selling season.
Guidance D.R. Horton guided for about $33.5 billion to $35 billion in sales for all of fiscal 2026, with 86,000 to 88,000 homes closed. For next quarter they expect $7.3 billion to $7.8 billion in revenue and 19,700 to 20,200 closings, with gross margins of 19 to 19.5 percent because incentives are higher.
Fine but not compelling. Acceptable results that likely do not create a meaningful forward reset.
Analysts Set New Price Targets
On October 6, 2026, Melius Research initiated coverage on D.R. Horton with a 'Sell' rating and a target price of $128. On October 15, 2026, Citigroup maintained a 'Neutral' rating, lowering its target from $160 to $150. RBC Capital also maintained an 'Underperform' rating with a target of $119 on the same day, while Wells Fargo kept an 'Equal-Weight' rating, adjusting its target from $145 to $140.
About D.R. Horton
D.R. Horton, Inc. is a homebuilding company based in Arlington, Texas. It operates in various regions across the United States, focusing on the acquisition and development of land, as well as the construction and sale of residential homes. The company's diverse offerings include single-family detached homes and townhomes.
Bottom Line
Investors should keep an eye on D.R. Horton's upcoming earnings report on October 29, 2026, as well as any further institutional activity that may influence the stock's performance. Greenhaven Associates' recent increase in stake adds to the interest surrounding the company amid mixed analyst ratings.
Related Filing Alerts
Source: Greenhaven Associates's 13F filing on $DHI (Oct 26, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts