ClariVest Asset Management LLC lowered its stake in D.R. Horton, Inc. (NYSE:DHI) by 3.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,030,928 shares of the construction company’s stock after selling 34,816 shares during the period. ClariVest Asset Management LLC owned about 0.28% of D.R. Horton worth $35,639,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of DHI. Shufro Rose & Co. LLC increased its stake in D.R. Horton by 0.3% in the first quarter. Shufro Rose & Co. LLC now owns 11,383 shares of the construction company’s stock valued at $379,000 after buying an additional 33 shares in the last quarter. BKD Wealth Advisors LLC increased its stake in D.R. Horton by 0.3% in the second quarter. BKD Wealth Advisors LLC now owns 11,395 shares of the construction company’s stock valued at $394,000 after buying an additional 39 shares in the last quarter. Conning Inc. increased its stake in D.R. Horton by 0.7% in the first quarter. Conning Inc. now owns 7,482 shares of the construction company’s stock valued at $249,000 after buying an additional 50 shares in the last quarter. Cleararc Capital Inc. increased its stake in D.R. Horton by 0.7% in the first quarter. Cleararc Capital Inc. now owns 8,293 shares of the construction company’s stock valued at $276,000 after buying an additional 59 shares in the last quarter. Finally, Buckingham Capital Management Inc. increased its stake in D.R. Horton by 0.5% in the first quarter. Buckingham Capital Management Inc. now owns 23,500 shares of the construction company’s stock valued at $783,000 after buying an additional 115 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.
D.R. Horton, Inc. (NYSE DHI) opened at 36.09 on Friday. The company’s 50-day moving average price is $35.83 and its 200-day moving average price is $33.44. D.R. Horton, Inc. has a 52-week low of $26.69 and a 52-week high of $37.44. The firm has a market cap of $13.51 billion, a price-to-earnings ratio of 13.52 and a beta of 1.25.
D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter last year, the company earned $0.66 EPS. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. Analysts predict that D.R. Horton, Inc. will post $2.78 EPS for the current year.
D.R. Horton announced that its Board of Directors has initiated a stock repurchase program on Wednesday, July 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is 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 $0.10 dividend. The ex-dividend date is Monday, August 7th. This represents a $0.40 dividend on an annualized basis and a yield of 1.11%. D.R. Horton’s dividend payout ratio is currently 15.04%.
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Several equities research analysts have issued reports on the company. BidaskClub downgraded D.R. Horton from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Royal Bank Of Canada lifted their price objective on D.R. Horton from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, July 13th. Wells Fargo & Company restated an “outperform” rating and set a $41.00 price objective (up from $39.00) on shares of D.R. Horton in a report on Monday, July 10th. Deutsche Bank AG restated a “hold” rating and set a $36.00 price objective (up from $34.00) on shares of D.R. Horton in a report on Thursday, July 27th. Finally, Mizuho assumed coverage on D.R. Horton in a report on Tuesday, May 16th. They set a “neutral” rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $36.59.
In other D.R. Horton 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 owns 7,316 shares of the company’s stock, valued at approximately $263,595.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 7.20% of the company’s stock.
About D.R. Horton
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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