Schwab Charles Investment Management Inc. Boosts Position in D.R. Horton, Inc. (DHI)
Schwab Charles Investment Management Inc. boosted its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 7.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,122,312 shares of the construction company’s stock after acquiring an additional 81,462 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.30% of D.R. Horton worth $38,799,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Benjamin F. Edwards & Company Inc. increased its position in D.R. Horton by 6.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,742 shares of the construction company’s stock valued at $129,000 after acquiring an additional 241 shares during the last quarter. Seven Bridges Advisors LLC purchased a new stake in D.R. Horton during the second quarter valued at $150,000. Creative Planning increased its position in D.R. Horton by 6.9% during the second quarter. Creative Planning now owns 5,665 shares of the construction company’s stock valued at $196,000 after acquiring an additional 364 shares during the last quarter. Wetherby Asset Management Inc. purchased a new stake in D.R. Horton during the second quarter valued at $204,000. Finally, Quantitative Systematic Strategies LLC purchased a new stake in D.R. Horton during the second quarter valued at $202,000. Institutional investors own 82.31% of the company’s stock.
In related news, Director Barbara K. Allen sold 1,666 shares of D.R. Horton 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 transaction, the director now owns 7,316 shares in the company, valued at approximately $263,595.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Michael W. Hewatt sold 4,000 shares of D.R. Horton stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $36.11, for a total value of $144,440.00. Following the completion of the transaction, the director now owns 8,000 shares of the company’s stock, valued at approximately $288,880. The disclosure for this sale can be found here. 7.20% of the stock is owned by insiders.
A number of analysts recently commented on the company. BidaskClub upgraded D.R. Horton from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Deutsche Bank AG reiterated a “hold” rating and set a $36.00 price objective (up previously from $34.00) on shares of D.R. Horton in a research report 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 objective for the company in a research report on Friday, June 30th. Mizuho assumed coverage on D.R. Horton in a research report on Tuesday, May 16th. They set a “neutral” rating and a $32.00 price objective for the company. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $38.00 price objective on shares of D.R. Horton in a research report on Tuesday, June 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $36.59.
D.R. Horton, Inc. (NYSE:DHI) opened at 36.93 on Tuesday. The company has a market cap of $13.82 billion, a price-to-earnings ratio of 13.84 and a beta of 1.24. The stock has a 50 day moving average price of $36.07 and a 200-day moving average price of $34.26. D.R. Horton, Inc. has a 1-year low of $26.69 and a 1-year 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, beating 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 firm had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.71 billion. During the same quarter in the previous year, the business earned $0.66 EPS. D.R. Horton’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, equities research analysts forecast that D.R. Horton, Inc. will post $2.78 EPS for the current year.
D.R. Horton declared that its Board of Directors has authorized a stock buyback plan on Wednesday, July 26th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the construction company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were paid a $0.10 dividend. The ex-dividend date was Monday, August 7th. This represents a $0.40 annualized dividend and a dividend yield of 1.08%. D.R. Horton’s dividend payout ratio is presently 15.04%.
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D.R. Horton 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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