D.R. Horton, Inc. (DHI) Shares Sold by Principal Financial Group Inc.
Principal Financial Group Inc. trimmed its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 20.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 580,479 shares of the construction company’s stock after selling 147,137 shares during the period. Principal Financial Group Inc. owned approximately 0.16% of D.R. Horton worth $20,067,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in DHI. Acadian Asset Management LLC increased its holdings in shares of D.R. Horton by 16,783.6% during the 1st 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 during the last quarter. Strs Ohio increased its holdings in shares of D.R. Horton by 8.4% during the 1st quarter. Strs Ohio now owns 29,503 shares of the construction company’s stock worth $982,000 after buying an additional 2,287 shares during the last quarter. LSV Asset Management acquired a new stake in shares of D.R. Horton during the 1st quarter worth $356,000. American Century Companies Inc. acquired a new stake in shares of D.R. Horton during the 1st quarter worth $9,818,000. Finally, DekaBank Deutsche Girozentrale increased its holdings in shares of D.R. Horton by 60.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 38,148 shares of the construction company’s stock worth $1,308,000 after buying an additional 14,299 shares during the last quarter. Institutional investors and hedge funds own 82.31% of the company’s stock.
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A number of analysts have recently commented on DHI shares. BidaskClub downgraded D.R. Horton from a “hold” rating to a “sell” rating in a report on Wednesday, August 23rd. Credit Suisse Group started coverage on D.R. Horton in a report on Thursday, June 22nd. They set an “outperform” rating and a $38.00 price objective for the company. 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. Wedbush upped their price objective on D.R. Horton to $36.00 and gave the stock an “outperform” rating in a report on Monday, June 5th. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $42.00 price target (up from $41.00) on shares of D.R. Horton in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $36.59.
In other news, Director Michael W. Hewatt sold 4,000 shares of the firm’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $36.11, for a total transaction of $144,440.00. Following the transaction, the director now owns 8,000 shares in the company, valued at approximately $288,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Barbara K. Allen sold 1,666 shares of the firm’s stock in a transaction 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 owns 7,316 shares in the company, valued at approximately $263,595.48. The disclosure for this sale can be found here. 7.20% of the stock is currently owned by company insiders.
D.R. Horton, Inc. (NYSE DHI) opened at 37.16 on Thursday. D.R. Horton, Inc. has a 52-week low of $26.69 and a 52-week high of $37.78. The firm has a 50-day moving average of $36.13 and a 200-day moving average of $34.33. The stock has a market capitalization of $13.91 billion, a PE ratio of 13.92 and a beta of 1.24.
D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.01. The business had revenue of $3.68 billion for 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 quarter last year, the firm earned $0.66 EPS. On average, equities analysts expect that D.R. Horton, Inc. will post $2.78 EPS for the current year.
The firm also recently declared 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 was Monday, August 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.08%. D.R. Horton’s dividend payout ratio is currently 15.04%.
D.R. Horton declared that its Board of Directors has approved a stock repurchase program on Wednesday, July 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the construction company to buy shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.
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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