D.R. Horton, Inc. (DHI) Holdings Reduced by Riverhead Capital Management LLC
Riverhead Capital Management LLC decreased its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 55.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,467 shares of the construction company’s stock after selling 28,901 shares during the period. Riverhead Capital Management LLC’s holdings in D.R. Horton were worth $811,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Shufro Rose & Co. LLC raised its stake in D.R. Horton by 0.3% during the 1st quarter. Shufro Rose & Co. LLC now owns 11,383 shares of the construction company’s stock worth $379,000 after acquiring an additional 33 shares during the period. Alps Advisors Inc. raised its stake in D.R. Horton by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 14,554 shares of the construction company’s stock worth $503,000 after acquiring an additional 37 shares during the period. BKD Wealth Advisors LLC raised its stake in D.R. Horton by 0.3% during the 2nd quarter. BKD Wealth Advisors LLC now owns 11,395 shares of the construction company’s stock worth $394,000 after acquiring an additional 39 shares during the period. Cleararc Capital Inc. raised its stake in D.R. Horton by 0.7% during the 1st quarter. Cleararc Capital Inc. now owns 8,293 shares of the construction company’s stock worth $276,000 after acquiring an additional 59 shares during the period. Finally, Buckingham Capital Management Inc. raised its stake in D.R. Horton by 0.5% during the 1st quarter. Buckingham Capital Management Inc. now owns 23,500 shares of the construction company’s stock worth $783,000 after acquiring an additional 115 shares during the period. Institutional investors own 82.29% of the company’s stock.
D.R. Horton, Inc. (DHI) opened at 37.49 on Tuesday. D.R. Horton, Inc. has a 12-month low of $26.69 and a 12-month high of $37.78. The company has a 50 day moving average of $36.24 and a 200-day moving average of $34.47. The stock has a market capitalization of $14.03 billion, a price-to-earnings ratio of 14.05 and a beta of 1.24.
D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.76 EPS 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 the consensus estimate of $3.71 billion. During the same period in the prior year, the company earned $0.66 EPS. The firm’s revenue 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 earnings per share for the current year.
D.R. Horton declared that its board 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 purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 1.07%. The ex-dividend date was Monday, August 7th. D.R. Horton’s dividend payout ratio is currently 15.04%.
A number of equities research analysts have commented on DHI shares. Deutsche Bank AG restated a “hold” rating and set a $36.00 target price (up previously from $34.00) on shares of D.R. Horton in a research note on Thursday, July 27th. Credit Suisse Group assumed coverage on shares of D.R. Horton in a report on Thursday, June 22nd. They set an “outperform” rating and a $38.00 price objective for the company. Raymond James Financial, Inc. raised shares of D.R. Horton from a “market perform” rating to an “outperform” rating and set a $39.00 price objective for the company in a report on Friday, June 30th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $41.00 price objective (up from $39.00) on shares of D.R. Horton in a report on Monday, July 10th. Finally, BidaskClub raised shares of D.R. Horton from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $36.59.
In related news, Director Michael W. Hewatt sold 4,000 shares of the stock in a transaction 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 completion of the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $288,880. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Barbara K. Allen sold 1,666 shares of the stock in a transaction on Thursday, July 27th. The shares were 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 directly owns 7,316 shares of the company’s stock, valued at $263,595.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,666 shares of company stock valued at $912,606. 7.20% of the stock is owned by corporate insiders.
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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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