Trilogy Global Advisors LP decreased its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,103,056 shares of the construction company’s stock after selling 81,587 shares during the period. D.R. Horton makes up 1.3% of Trilogy Global Advisors LP’s holdings, making the stock its 25th biggest position. Trilogy Global Advisors LP owned 0.29% of D.R. Horton worth $38,133,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. New York State Common Retirement Fund increased its position in D.R. Horton by 0.7% during the 2nd quarter. New York State Common Retirement Fund now owns 823,505 shares of the construction company’s stock worth $28,469,000 after buying an additional 5,999 shares during the period. Howard Hughes Medical Institute bought a new position in D.R. Horton during the 2nd quarter worth $352,000. ProShare Advisors LLC increased its position in D.R. Horton by 1.4% during the 2nd quarter. ProShare Advisors LLC now owns 81,033 shares of the construction company’s stock worth $2,801,000 after buying an additional 1,111 shares during the period. Profund Advisors LLC increased its position in D.R. Horton by 22.4% during the 2nd quarter. Profund Advisors LLC now owns 9,626 shares of the construction company’s stock worth $333,000 after buying an additional 1,762 shares during the period. Finally, Laurion Capital Management LP bought a new position in D.R. Horton during the 2nd quarter worth $342,000. Hedge funds and other institutional investors own 82.29% of the company’s stock.
DHI has been the topic of several recent research reports. BidaskClub cut D.R. Horton from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Credit Suisse Group initiated coverage on D.R. Horton in a research report on Thursday, June 22nd. They set an “outperform” rating and a $38.00 price objective on the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $38.00 price objective on shares of D.R. Horton in a research report on Tuesday, June 6th. Wedbush increased their price objective on D.R. Horton to $36.00 and gave the stock an “outperform” rating in a research report on Monday, June 5th. Finally, Bank of America Corporation reiterated a “buy” rating and set a $42.00 price objective (up previously from $41.00) on shares of D.R. Horton in a research report on Tuesday, June 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. D.R. Horton has an average rating of “Buy” and an average target price of $36.59.
D.R. Horton, Inc. (NYSE:DHI) traded down 0.11% during mid-day trading on Tuesday, hitting $37.45. The stock had a trading volume of 795,411 shares. D.R. Horton, Inc. has a 52 week low of $26.69 and a 52 week high of $37.78. The stock has a market capitalization of $14.02 billion, a P/E ratio of 14.03 and a beta of 1.24. The company’s 50 day moving average is $36.24 and its 200-day moving average is $34.47.
D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. During the same period in the previous year, the company posted $0.66 EPS. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, analysts expect that D.R. Horton, Inc. will post $2.78 EPS for the current fiscal year.
D.R. Horton declared that its board has approved a stock buyback program on Wednesday, July 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Investors of record on Wednesday, August 9th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.07%. D.R. Horton’s payout ratio is 15.04%.
In related news, Director Michael W. Hewatt sold 4,000 shares of the business’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $36.11, for a total transaction of $144,440.00. Following the sale, the director now directly owns 8,000 shares in the company, valued at approximately $288,880. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bradley S. Anderson sold 10,000 shares of the business’s stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $37.46, for a total value of $374,600.00. Following the sale, the director now owns 36,828 shares in the company, valued at $1,379,576.88. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,666 shares of company stock worth $912,606. 7.20% of the stock is currently owned by corporate 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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