Monetta Financial Services Inc. Has $1,106,000 Stake in D.R. Horton, Inc. (DHI)
Monetta Financial Services Inc. maintained its position in D.R. Horton, Inc. (NYSE:DHI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,000 shares of the construction company’s stock at the end of the second quarter. Monetta Financial Services Inc.’s holdings in D.R. Horton were worth $1,106,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its position in D.R. Horton by 2.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 42,940 shares of the construction company’s stock valued at $1,430,000 after buying an additional 950 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in D.R. Horton by 38.6% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,596 shares of the construction company’s stock valued at $286,000 after buying an additional 2,396 shares during the last quarter. Swiss National Bank raised its position in D.R. Horton by 28.9% in the first quarter. Swiss National Bank now owns 1,255,274 shares of the construction company’s stock valued at $41,813,000 after buying an additional 281,200 shares during the last quarter. Wedbush Securities Inc. purchased a new position in D.R. Horton during the second quarter valued at approximately $567,000. Finally, State of Alaska Department of Revenue purchased a new position in D.R. Horton during the first quarter valued at approximately $333,000. 82.30% of the stock is owned by institutional investors.
D.R. Horton, Inc. (DHI) traded up 1.058% during mid-day trading on Thursday, hitting $35.815. The company had a trading volume of 505,965 shares. D.R. Horton, Inc. has a 52-week low of $26.69 and a 52-week high of $37.44. The company has a market capitalization of $13.40 billion, a P/E ratio of 13.419 and a beta of 1.25. The company has a 50-day moving average price of $36.28 and a 200 day moving average price of $33.84.
D.R. Horton (NYSE:DHI) last issued its earnings results on Wednesday, July 26th. The construction company reported $0.76 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate 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 the consensus estimate of $3.71 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. The company’s revenue was up 17.0% compared to the same quarter last year. On average, analysts forecast that D.R. Horton, Inc. will post $2.78 EPS for the current fiscal year.
D.R. Horton announced that its Board of Directors has authorized a stock buyback program 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. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 1.13%. The ex-dividend date was Monday, August 7th. D.R. Horton’s payout ratio is 15.04%.
Several research firms have recently weighed in on DHI. BidaskClub upgraded D.R. Horton from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Credit Suisse Group began coverage on D.R. Horton in a research report on Thursday, June 22nd. They set an “outperform” rating and a $38.00 target price for the company. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $38.00 target price on shares of D.R. Horton in a research report on Tuesday, June 6th. Wedbush lifted their target price on D.R. Horton to $36.00 and gave the stock an “outperform” rating in a research report on Monday, June 5th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $42.00 target price (up from $41.00) on shares of D.R. Horton in a research report on Tuesday, June 27th. 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 stock. D.R. Horton currently has a consensus rating of “Buy” and a consensus target price of $36.59.
In other news, Director Barbara K. Allen sold 1,666 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $36.03, for a total value of $60,025.98. Following the completion of the sale, the director now owns 7,316 shares of the company’s stock, valued at $263,595.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.20% of the stock is owned by corporate 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.
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