D.R. Horton, Inc. (NYSE:DHI) Director Michael R. Buchanan sold 9,000 shares of the stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $37.06, for a total value of $333,540.00. Following the completion of the sale, the director now owns 24,880 shares of the company’s stock, valued at $922,052.80. The sale was disclosed in a filing with the SEC, which is available at this link.
D.R. Horton, Inc. (DHI) opened at 37.17 on Friday. The company has a market cap of $13.91 billion, a PE ratio of 13.93 and a beta of 1.24. The firm has a 50-day moving average of $36.19 and a 200-day moving average of $34.41. D.R. Horton, Inc. has a one year low of $26.69 and a one year high of $37.78.
D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.76 earnings per share (EPS) for the quarter, topping the 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 company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same quarter in the previous year, the firm posted $0.66 EPS. The business’s revenue was up 17.0% compared to the same quarter last year. On average, analysts predict that D.R. Horton, Inc. will post $2.78 EPS for the current year.
D.R. Horton declared that its board has initiated a stock repurchase program on Wednesday, July 26th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were issued a dividend of $0.10 per share. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.40 annualized dividend and a dividend yield of 1.08%. D.R. Horton’s payout ratio is 15.04%.
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Several large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of D.R. Horton by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 35,093,759 shares of the construction company’s stock worth $1,213,190,000 after purchasing an additional 253,036 shares during the period. BlackRock Inc. increased its holdings in shares of D.R. Horton by 4,643.2% during the 1st quarter. BlackRock Inc. now owns 31,771,328 shares of the construction company’s stock worth $1,058,305,000 after purchasing an additional 31,101,501 shares during the period. Sanders Capital LLC increased its holdings in shares of D.R. Horton by 2.6% during the 1st quarter. Sanders Capital LLC now owns 22,094,609 shares of the construction company’s stock worth $753,622,000 after purchasing an additional 562,557 shares during the period. FMR LLC increased its holdings in shares of D.R. Horton by 3.9% during the 2nd quarter. FMR LLC now owns 11,773,898 shares of the construction company’s stock worth $407,023,000 after purchasing an additional 446,612 shares during the period. Finally, Greenhaven Associates Inc. increased its holdings in shares of D.R. Horton by 7.0% during the 2nd quarter. Greenhaven Associates Inc. now owns 8,172,140 shares of the construction company’s stock worth $282,511,000 after purchasing an additional 532,534 shares during the period. Institutional investors own 82.31% of the company’s stock.
Several analysts recently issued reports on DHI shares. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $38.00 price target on shares of D.R. Horton in a report on Tuesday, June 6th. Bank of America Corporation reiterated a “buy” rating and issued a $42.00 price target (up from $41.00) on shares of D.R. Horton in a report on Tuesday, June 27th. BidaskClub upgraded D.R. Horton from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. Deutsche Bank AG reiterated a “hold” rating and issued a $36.00 price target (up from $34.00) on shares of D.R. Horton in a report on Thursday, July 27th. Finally, Wedbush increased their price target on D.R. Horton from $36.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, July 17th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $36.59.
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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