TD Asset Management Inc. decreased its stake in D.R. Horton, Inc. (NYSE:DHI) by 1.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 609,483 shares of the construction company’s stock after selling 9,922 shares during the period. TD Asset Management Inc. owned about 0.16% of D.R. Horton worth $21,070,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of DHI. BlackRock Inc. boosted its stake in shares of D.R. Horton by 4,643.2% in the first quarter. BlackRock Inc. now owns 31,771,328 shares of the construction company’s stock valued at $1,058,305,000 after buying an additional 31,101,501 shares during the last quarter. Capital Growth Management LP boosted its stake in shares of D.R. Horton by 107.5% in the first quarter. Capital Growth Management LP now owns 3,320,000 shares of the construction company’s stock valued at $110,589,000 after buying an additional 1,720,000 shares during the last quarter. Oakmont Corp boosted its stake in shares of D.R. Horton by 1,271.8% in the first quarter. Oakmont Corp now owns 1,133,269 shares of the construction company’s stock valued at $37,749,000 after buying an additional 1,050,660 shares during the last quarter. Caisse DE Depot ET Placement DU Quebec boosted its stake in shares of D.R. Horton by 1,823.4% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,090,284 shares of the construction company’s stock valued at $36,357,000 after buying an additional 1,033,600 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of D.R. Horton by 1,749.9% in the first quarter. Nuveen Asset Management LLC now owns 1,022,867 shares of the construction company’s stock valued at $34,072,000 after buying an additional 967,573 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors.
D.R. Horton, Inc. (NYSE DHI) opened at 36.09 on Friday. D.R. Horton, Inc. has a 52 week low of $26.69 and a 52 week high of $37.44. The company has a 50-day moving average price of $35.83 and a 200 day moving average price of $33.44. The company has a market cap of $13.51 billion, a PE 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 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.75 by $0.01. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. D.R. Horton had a net margin of 7.38% and a return on equity of 14.19%. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.66 EPS. On average, equities research analysts forecast that D.R. Horton, Inc. will post $2.78 EPS for the current fiscal year.
D.R. Horton announced that its board has authorized a stock buyback plan on Wednesday, July 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the construction company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Monday, August 7th. D.R. Horton’s payout ratio is presently 15.04%.
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DHI has been the topic of several analyst reports. Credit Suisse Group initiated coverage on D.R. Horton in a research note on Thursday, June 22nd. They set an “outperform” rating and a $38.00 price objective on the stock. Deutsche Bank AG reissued a “hold” rating and set a $36.00 price objective (up from $34.00) on shares of D.R. Horton in a research note on Thursday, July 27th. Raymond James Financial, Inc. raised D.R. Horton from a “market perform” rating to an “outperform” rating and set a $39.00 price objective on the stock in a research note on Friday, June 30th. Wells Fargo & Company reissued an “outperform” rating and set a $41.00 price objective (up from $39.00) on shares of D.R. Horton in a research note on Monday, July 10th. Finally, BidaskClub raised D.R. Horton from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $36.59.
In other news, Director Barbara K. Allen sold 1,666 shares of D.R. Horton stock in a transaction that occurred 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. 7.20% of the stock is currently owned by 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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