D.R. Horton, Inc. (DHI) Director Michael W. Hewatt Sells 4,000 Shares of Stock
D.R. Horton, Inc. (NYSE:DHI) Director Michael W. Hewatt sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $36.11, for a total value of $144,440.00. Following the sale, the director now owns 8,000 shares of the company’s stock, valued at approximately $288,880. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of D.R. Horton, Inc. (NYSE DHI) opened at 36.93 on Tuesday. 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 $36.07 and a 200 day moving average price of $34.26. The company has a market capitalization of $13.82 billion, a PE ratio of 13.84 and a beta of 1.24.
D.R. Horton (NYSE:DHI) last released its quarterly earnings data 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. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.71 billion. D.R. Horton had a net margin of 7.38% and a return on equity of 14.19%. D.R. Horton’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period last year, the firm earned $0.66 EPS. On average, equities research analysts expect that D.R. Horton, Inc. will post $2.78 earnings per share for the current year.
D.R. Horton declared that its Board of Directors has approved a stock buyback plan on Wednesday, July 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th were issued a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.08%. The ex-dividend date was Monday, August 7th. D.R. Horton’s payout ratio is 15.04%.
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A number of large investors have recently made changes to their positions in the business. Lord Abbett & CO. LLC boosted its holdings in D.R. Horton by 16.7% in the 2nd quarter. Lord Abbett & CO. LLC now owns 165,000 shares of the construction company’s stock valued at $5,704,000 after purchasing an additional 23,600 shares during the period. Toronto Dominion Bank boosted its holdings in D.R. Horton by 23.7% in the 2nd quarter. Toronto Dominion Bank now owns 120,832 shares of the construction company’s stock valued at $4,177,000 after purchasing an additional 23,143 shares during the period. Cetera Investment Advisers bought a new position in D.R. Horton in the 2nd quarter valued at $216,000. Advisory Services Network LLC boosted its holdings in D.R. Horton by 131.9% in the 2nd quarter. Advisory Services Network LLC now owns 3,956 shares of the construction company’s stock valued at $137,000 after purchasing an additional 2,250 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its holdings in D.R. Horton by 0.3% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 217,005 shares of the construction company’s stock valued at $7,502,000 after purchasing an additional 565 shares during the period. 82.31% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have recently issued reports on DHI. BidaskClub upgraded D.R. Horton from a “sell” rating to a “hold” rating in a report on Monday, August 14th. Keefe, Bruyette & Woods restated a “buy” rating and set a $38.00 price objective on shares of D.R. Horton in a report on Tuesday, June 6th. Royal Bank Of Canada boosted 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. Mizuho began coverage on D.R. Horton in a report on Tuesday, May 16th. They set a “neutral” rating and a $32.00 price objective for the company. Finally, Wedbush boosted their price objective on D.R. Horton from $36.00 to $42.00 and gave the stock 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 issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $36.59.
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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