California Public Employees Retirement System Purchases 17,600 Shares of D. R. Horton Inc (DHI)
California Public Employees Retirement System grew its position in shares of D. R. Horton Inc (NYSE:DHI) by 2.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 751,400 shares of the construction company’s stock after purchasing an additional 17,600 shares during the quarter. California Public Employees Retirement System owned approximately 0.20% of D. R. Horton worth $30,003,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in DHI. Janney Montgomery Scott LLC bought a new position in shares of D. R. Horton during the second quarter worth about $339,000. State of New Jersey Common Pension Fund D bought a new position in shares of D. R. Horton during the second quarter worth about $795,000. Global X Management Co. LLC raised its position in shares of D. R. Horton by 15.6% during the second quarter. Global X Management Co. LLC now owns 8,151 shares of the construction company’s stock worth $282,000 after acquiring an additional 1,098 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in shares of D. R. Horton by 7.8% during the second quarter. Schwab Charles Investment Management Inc. now owns 1,122,312 shares of the construction company’s stock worth $38,799,000 after acquiring an additional 81,462 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale raised its position in shares of D. R. Horton by 44.3% during the second quarter. DekaBank Deutsche Girozentrale now owns 55,054 shares of the construction company’s stock worth $1,936,000 after acquiring an additional 16,906 shares during the last quarter. 84.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of D. R. Horton Inc (NYSE:DHI) opened at $50.58 on Monday. The company has a quick ratio of 1.02, a current ratio of 6.93 and a debt-to-equity ratio of 0.37. D. R. Horton Inc has a one year low of $27.21 and a one year high of $51.53. The company has a market capitalization of $18,969.42, a P/E ratio of 18.53, a price-to-earnings-growth ratio of 1.57 and a beta of 1.32.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date was Thursday, November 30th. This is a boost from D. R. Horton’s previous quarterly dividend of $0.10. D. R. Horton’s dividend payout ratio (DPR) is 18.32%.
In other D. R. Horton news, Director Michael W. Hewatt sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $47.86, for a total value of $95,720.00. Following the completion of the sale, the director now owns 6,000 shares of the company’s stock, valued at $287,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Bill W. Wheat sold 19,677 shares of the firm’s stock in a transaction that occurred on Friday, November 24th. The shares were sold at an average price of $49.65, for a total value of $976,963.05. Following the completion of the sale, the chief financial officer now directly owns 100,081 shares of the company’s stock, valued at approximately $4,969,021.65. The disclosure for this sale can be found here. Insiders sold 28,677 shares of company stock valued at $1,410,293 in the last three months. Insiders own 7.20% of the company’s stock.
A number of equities research analysts have weighed in on the company. BTIG Research lifted their target price on D. R. Horton to $62.00 in a report on Thursday. Wedbush downgraded D. R. Horton from an “outperform” rating to a “neutral” rating and set a $50.00 target price for the company. in a report on Tuesday, December 12th. Keefe, Bruyette & Woods downgraded D. R. Horton from an “outperform” rating to a “market perform” rating in a report on Thursday, December 7th. ValuEngine downgraded D. R. Horton from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $51.00 target price on shares of D. R. Horton in a report on Sunday, November 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $45.94.
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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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