Smithfield Trust Co. cut its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 0.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,314 shares of the construction company’s stock after selling 30 shares during the period. Smithfield Trust Co.’s holdings in D.R. Horton were worth $287,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in DHI. Eads & Heald Investment Counsel boosted its stake in shares of D.R. Horton by 1.5% in the second quarter. Eads & Heald Investment Counsel now owns 27,939 shares of the construction company’s stock worth $966,000 after buying an additional 410 shares in the last quarter. Korea Investment CORP boosted its stake in shares of D.R. Horton by 47.6% in the second quarter. Korea Investment CORP now owns 949,588 shares of the construction company’s stock worth $32,827,000 after buying an additional 306,032 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its stake in shares of D.R. Horton by 4.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 401,838 shares of the construction company’s stock worth $13,892,000 after buying an additional 15,280 shares in the last quarter. Suffolk Capital Management LLC purchased a new stake in shares of D.R. Horton during the second quarter worth $13,519,000. Finally, Daiwa Securities Group Inc. boosted its stake in shares of D.R. Horton by 9.6% in the second quarter. Daiwa Securities Group Inc. now owns 10,316 shares of the construction company’s stock worth $357,000 after buying an additional 900 shares in the last quarter. 82.36% of the stock is owned by hedge funds and other institutional investors.
Shares of D.R. Horton, Inc. (NYSE DHI) traded down 2.12% on Thursday, reaching $36.05. The company had a trading volume of 2,243,404 shares. The company has a market capitalization of $13.49 billion, a price-to-earnings ratio of 13.51 and a beta of 1.25. The stock has a 50 day moving average price of $36.08 and a 200-day moving average price of $33.58. 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 results on Wednesday, July 26th. The construction company reported $0.76 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.01. D.R. Horton had a return on equity of 14.19% and a net margin of 7.38%. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the previous year, the firm earned $0.66 earnings per share. The business’s quarterly revenue was up 17.0% compared to the same quarter last year. Analysts forecast that D.R. Horton, Inc. will post $2.78 EPS for the current fiscal year.
D.R. Horton declared that its board has authorized a stock repurchase program on Wednesday, July 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be given a $0.10 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.11%. D.R. Horton’s dividend payout ratio is currently 15.04%.
A number of brokerages have weighed in on DHI. BidaskClub upgraded D.R. Horton from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Deutsche Bank AG restated a “hold” rating and set a $36.00 price target (up previously from $34.00) on shares of D.R. Horton in a research note on Thursday, July 27th. Raymond James Financial, Inc. upgraded D.R. Horton from a “market perform” rating to an “outperform” rating and set a $39.00 price target for the company in a research note on Friday, June 30th. Mizuho started coverage on D.R. Horton in a research note on Tuesday, May 16th. They set a “neutral” rating and a $32.00 price target for the company. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $38.00 price target on shares of D.R. Horton in a research note on Tuesday, June 6th. Seven research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $36.59.
In related news, Director Barbara K. Allen sold 1,666 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $36.03, for a total transaction of $60,025.98. Following the completion of the transaction, the director now owns 7,316 shares of the company’s stock, valued at approximately $263,595.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.20% of the stock is owned by insiders.
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.
Receive News & Ratings for D.R. Horton Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for D.R. Horton Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
