Laffer Investments held its stake in shares of D.R. Horton, Inc. (NYSE:DHI) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 59,067 shares of the construction company’s stock at the end of the first quarter. Laffer Investments’ holdings in D.R. Horton were worth $1,968,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Shufro Rose & Co. LLC boosted 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 worth $379,000 after buying an additional 33 shares in the last quarter. Conning Inc. boosted 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 worth $249,000 after buying an additional 50 shares in the last quarter. Cleararc Capital Inc. increased its position in shares of D.R. Horton by 0.7% in the first quarter. Cleararc Capital Inc. now owns 8,293 shares of the construction company’s stock worth $276,000 after buying an additional 59 shares during the last quarter. Charter Trust Co. increased 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 worth $371,000 after buying an additional 75 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased 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 worth $532,000 after buying an additional 105 shares during the last quarter. 83.01% of the stock is currently owned by institutional investors.
Shares of D.R. Horton, Inc. (DHI) traded down 0.61% on Friday, reaching $35.85. The company had a trading volume of 3,593,795 shares. D.R. Horton, Inc. has a 1-year low of $26.69 and a 1-year high of $37.44. The firm has a market capitalization of $13.42 billion, a price-to-earnings ratio of 13.43 and a beta of 1.25. The firm has a 50-day moving average price of $35.15 and a 200 day moving average price of $32.91.
D.R. Horton (NYSE:DHI) last released its 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 net margin of 7.38% and a return on equity of 14.19%. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the previous year, the company earned $0.66 EPS. D.R. Horton’s revenue for the quarter was up 17.0% on a year-over-year basis. Equities research analysts predict that D.R. Horton, Inc. will post $2.78 earnings per share for the current year.
The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.40 annualized dividend and a dividend yield of 1.12%. D.R. Horton’s dividend payout ratio is presently 15.04%.
D.R. Horton declared that its board has initiated a stock repurchase plan on Wednesday, July 26th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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DHI has been the topic of a number of recent research reports. Wedbush reissued an “outperform” rating and issued a $36.00 target price on shares of D.R. Horton in a report on Thursday, April 13th. Mizuho started coverage on D.R. Horton in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $32.00 price objective on the stock. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $38.00 price objective on shares of D.R. Horton in a research note on Tuesday, June 6th. Credit Suisse Group started coverage on D.R. Horton in a research report on Thursday, June 22nd. They set an “outperform” rating and a $38.00 target price for the company. Finally, Bank of America Corporation restated a “buy” rating and set a $42.00 price target (up previously from $41.00) on shares of D.R. Horton in a report on Tuesday, June 27th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $36.59.
In related news, Director Barbara K. Allen sold 1,666 shares of the company’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 completion of the sale, the director now directly owns 7,316 shares of the company’s stock, valued at approximately $263,595.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.20% of the stock is owned by insiders.
D.R. Horton Company 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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