Prudential Financial Inc. Buys 262,320 Shares of D.R. Horton, Inc. (DHI)
Prudential Financial Inc. increased its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 6.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,204,514 shares of the construction company’s stock after buying an additional 262,320 shares during the period. Prudential Financial Inc. owned 1.12% of D.R. Horton worth $145,350,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. DnB Asset Management AS raised its stake in D.R. Horton by 40.6% in the first quarter. DnB Asset Management AS now owns 37,734 shares of the construction company’s stock worth $1,257,000 after buying an additional 10,900 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of D.R. Horton during the first quarter worth approximately $333,000. Mn Services Vermogensbeheer B.V. increased its position in shares of D.R. Horton by 6.5% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 9,448 shares of the construction company’s stock worth $294,000 after buying an additional 574 shares in the last quarter. Acadian Asset Management LLC increased its position in shares of D.R. Horton by 16,783.6% in the first quarter. Acadian Asset Management LLC now owns 11,312 shares of the construction company’s stock worth $377,000 after buying an additional 11,245 shares in the last quarter. Finally, Sumitomo Life Insurance Co. increased its position in shares of D.R. Horton by 114.2% in the first quarter. Sumitomo Life Insurance Co. now owns 29,126 shares of the construction company’s stock worth $970,000 after buying an additional 15,528 shares in the last quarter. Institutional investors and hedge funds own 82.36% of the company’s stock.
D.R. Horton, Inc. (NYSE DHI) opened at 35.78 on Friday. D.R. Horton, Inc. has a 12-month low of $26.69 and a 12-month high of $37.44. The firm’s 50-day moving average price is $36.28 and its 200-day moving average price is $33.84. The company has a market cap of $13.39 billion, a P/E ratio of 13.41 and a beta of 1.25.
D.R. Horton (NYSE:DHI) last announced its earnings results on Wednesday, July 26th. The construction company reported $0.76 EPS for the quarter, topping the Thomson Reuters’ 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 company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period last year, the firm earned $0.66 earnings per share. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. Analysts expect that D.R. Horton, Inc. will post $2.78 EPS for the current year.
D.R. Horton declared that its Board of Directors has approved a stock buyback 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 purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company’s management believes its shares are undervalued.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.40 annualized dividend and a dividend yield of 1.12%. D.R. Horton’s dividend payout ratio is presently 15.04%.
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A number of brokerages recently commented on DHI. BidaskClub downgraded D.R. Horton from a “hold” rating to a “sell” rating in a report on Wednesday. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $38.00 price target on shares of D.R. Horton in a report on Tuesday, June 6th. Royal Bank Of Canada increased their price target on D.R. Horton from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, July 13th. Mizuho began coverage on D.R. Horton in a report on Tuesday, May 16th. They issued a “neutral” rating and a $32.00 price target for the company. Finally, Wedbush increased their price target on D.R. Horton from $36.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. D.R. Horton currently has a consensus rating of “Buy” and a consensus price target of $36.59.
In other news, Director Barbara K. Allen sold 1,666 shares of the firm’s 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 transaction, the director now directly owns 7,316 shares of the company’s stock, valued at $263,595.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.20% of the stock is currently 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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