TD Asset Management Inc. Lowers Stake in D.R. Horton, Inc. (NYSE:DHI)
TD Asset Management Inc. reduced its stake in D.R. Horton, Inc. (NYSE:DHI) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 609,483 shares of the construction company’s stock after selling 9,922 shares during the period. TD Asset Management Inc.’s holdings in D.R. Horton were worth $21,070,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Courier Capital LLC acquired a new position in D.R. Horton during the first quarter valued at approximately $217,000. DnB Asset Management AS increased its position in D.R. Horton by 40.6% in the first quarter. DnB Asset Management AS now owns 37,734 shares of the construction company’s stock valued at $1,257,000 after buying an additional 10,900 shares during the period. Americafirst Capital Management LLC acquired a new position in D.R. Horton during the first quarter valued at approximately $364,000. Fox Run Management L.L.C. increased its position in D.R. Horton by 272.0% in the first quarter. Fox Run Management L.L.C. now owns 27,900 shares of the construction company’s stock valued at $929,000 after buying an additional 20,400 shares during the period. Finally, BKD Wealth Advisors LLC increased its position in D.R. Horton by 16.7% in the first quarter. BKD Wealth Advisors LLC now owns 11,356 shares of the construction company’s stock valued at $378,000 after buying an additional 1,626 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.
Shares of D.R. Horton, Inc. (DHI) opened at 36.09 on Friday. The company has a 50-day moving average of $35.83 and a 200-day moving average of $33.44. D.R. Horton, Inc. has a 12 month low of $26.69 and a 12 month high of $37.44. The stock has a market capitalization of $13.51 billion, a PE ratio of 13.52 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 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.75 by $0.01. The business had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.71 billion. D.R. Horton had a net margin of 7.38% and a return on equity of 14.19%. The business’s revenue was up 17.0% on a year-over-year basis. During the same period last year, the business earned $0.66 EPS. On average, equities research analysts expect that D.R. Horton, Inc. will post $2.78 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Monday, August 7th. D.R. Horton’s dividend payout ratio is currently 15.04%.
D.R. Horton declared that its Board of Directors has authorized 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 purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
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Several research firms have commented on DHI. Wells Fargo & Company restated an “outperform” rating and issued a $41.00 price target (up previously from $39.00) on shares of D.R. Horton in a research note on Monday, July 10th. Wedbush boosted their price target on shares of D.R. Horton from $36.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, July 17th. Royal Bank Of Canada boosted their price target on shares of D.R. Horton from $37.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, July 13th. BidaskClub downgraded shares of D.R. Horton from a “hold” rating to a “sell” rating in a research note on Thursday, August 3rd. Finally, Deutsche Bank AG restated a “hold” rating and issued a $36.00 price target (up previously from $34.00) on shares of D.R. Horton in a research note on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. D.R. Horton presently has a consensus rating of “Buy” and a consensus price target of $36.59.
In other D.R. Horton news, Director Barbara K. Allen sold 1,666 shares of the firm’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 transaction, 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 document filed with the SEC, which is available through this hyperlink. 7.20% of the stock is owned by company 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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