Seven Bridges Advisors LLC purchased a new stake in D.R. Horton, Inc. (NYSE:DHI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 4,341 shares of the construction company’s stock, valued at approximately $150,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in DHI. Benjamin F. Edwards & Company Inc. bought a new position in D.R. Horton during the first quarter valued at approximately $117,000. Creative Planning increased its stake in shares of D.R. Horton by 6.9% in the second quarter. Creative Planning now owns 5,665 shares of the construction company’s stock valued at $196,000 after buying an additional 364 shares during the last quarter. Quantitative Systematic Strategies LLC purchased a new stake in shares of D.R. Horton during the second quarter valued at about $202,000. V Wealth Management LLC purchased a new stake in shares of D.R. Horton during the first quarter valued at about $203,000. Finally, Pacer Advisors Inc. increased its stake in shares of D.R. Horton by 3.4% in the first quarter. Pacer Advisors Inc. now owns 6,082 shares of the construction company’s stock valued at $203,000 after buying an additional 198 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.
D.R. Horton, Inc. (DHI) opened at 36.37 on Thursday. The stock has a market capitalization of $13.61 billion, a price-to-earnings ratio of 13.63 and a beta of 1.25. The firm has a 50-day moving average of $35.70 and a 200 day moving average of $33.37. D.R. Horton, Inc. has a 12-month low of $26.69 and a 12-month high of $37.44.
D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.01. D.R. Horton had a net margin of 7.38% and a return on equity of 14.19%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period last year, the business earned $0.66 EPS. The company’s revenue was up 17.0% on a year-over-year basis. On average, analysts predict that D.R. Horton, Inc. will post $2.78 earnings per share for the current fiscal year.
D.R. Horton announced that its Board of Directors has approved a stock buyback program on Wednesday, July 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.40 annualized dividend and a yield of 1.10%. D.R. Horton’s dividend payout ratio is currently 15.04%.
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DHI has been the subject of several analyst reports. Wedbush reissued an “outperform” rating and issued a $36.00 price objective on shares of D.R. Horton in a research note on Thursday, April 13th. Mizuho initiated coverage on shares of D.R. Horton in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $32.00 price objective for the company. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $38.00 price objective on shares of D.R. Horton in a research note on Tuesday, June 6th. Credit Suisse Group initiated coverage on shares of D.R. Horton in a research note on Thursday, June 22nd. They issued an “outperform” rating and a $38.00 price objective for the company. Finally, Bank of America Corporation reissued a “buy” rating and issued a $42.00 price objective (up previously from $41.00) on shares of D.R. Horton in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $36.59.
In related news, Director Barbara K. Allen sold 1,666 shares of D.R. Horton stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $36.03, for a total transaction of $60,025.98. Following the sale, the director now directly owns 7,316 shares in the company, valued at approximately $263,595.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.20% of the stock is owned by company insiders.
D.R. Horton Company Profile
D.R. Horton, Inc is a homebuilding company. The Company constructed and sold homes in 27 states and 79 markets, as of September 30, 2015. The Company’s segments include its 39 homebuilding divisions, its financial services operations and its other business activities. In the homebuilding segment, the Company builds and sells single-family detached homes and attached homes, such as town homes, duplexes, triplexes and condominiums.
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