Metropolitan Life Insurance Co. NY lowered its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 1.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 176,498 shares of the construction company’s stock after selling 2,420 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in D.R. Horton were worth $5,879,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Shufro Rose & Co. LLC raised its stake in D.R. Horton by 0.3% in the first quarter. Shufro Rose & Co. LLC now owns 11,383 shares of the construction company’s stock valued at $379,000 after buying an additional 33 shares during the last quarter. Conning Inc. raised its stake in D.R. Horton by 0.7% in the first quarter. Conning Inc. now owns 7,482 shares of the construction company’s stock valued at $249,000 after buying an additional 50 shares during the last quarter. Cleararc Capital Inc. raised its stake in D.R. Horton by 0.7% in the first quarter. Cleararc Capital Inc. now owns 8,293 shares of the construction company’s stock valued at $276,000 after buying an additional 59 shares during the last quarter. Charter Trust Co. raised its position in shares of D.R. Horton by 0.7% in the first quarter. Charter Trust Co. now owns 11,148 shares of the construction company’s stock valued at $371,000 after buying an additional 75 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of D.R. Horton by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,454 shares of the construction company’s stock valued at $532,000 after buying an additional 105 shares during the last quarter. 83.01% of the stock is owned by institutional investors and hedge funds.
Shares of D.R. Horton, Inc. (DHI) traded down 0.61% during midday trading on Friday, hitting $35.85. 3,593,795 shares of the stock were exchanged. D.R. Horton, Inc. has a one year low of $26.69 and a one year high of $37.44. The firm has a 50 day moving average of $35.15 and a 200-day moving average of $32.91. The company has a market cap of $13.42 billion, a price-to-earnings ratio of 13.43 and a beta of 1.25.
D.R. Horton (NYSE:DHI) last released its quarterly earnings results 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. D.R. Horton had a return on equity of 14.19% and a net margin of 7.38%. The business had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same quarter in the prior year, the business earned $0.66 earnings per share. The company’s quarterly revenue was up 17.0% compared to the same quarter last year. Equities analysts expect that D.R. Horton, Inc. will post $2.78 EPS for the current year.
D.R. Horton announced that its board has approved a stock buyback program on Wednesday, July 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Monday, August 7th. D.R. Horton’s dividend payout ratio (DPR) is presently 15.04%.
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DHI has been the subject of several research analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $36.00 price objective on shares of D.R. Horton in a research report on Thursday, April 13th. Credit Suisse Group initiated coverage on shares of D.R. Horton in a research report on Thursday, June 22nd. They issued 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 research report on Friday, June 30th. BidaskClub raised shares of D.R. Horton from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $42.00 price objective (up from $41.00) on shares of D.R. Horton in a research report on Tuesday, June 27th. Seven investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $36.59.
In other news, Director Barbara K. Allen sold 1,666 shares of the company’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $36.03, for a total transaction of $60,025.98. Following the completion of the sale, the director now owns 7,316 shares in the company, valued at $263,595.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.20% of the stock is owned by corporate insiders.
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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