Morse Asset Management Inc Has $4.04 Million Position in D.R. Horton, Inc. (NYSE:DHI)

Morse Asset Management Inc raised its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 68.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,555 shares of the construction company’s stock after purchasing an additional 9,945 shares during the quarter. Morse Asset Management Inc’s holdings in D.R. Horton were worth $4,041,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Voss Capital LLC acquired a new stake in D.R. Horton during the 4th quarter valued at $7,599,000. Handelsbanken Fonder AB increased its stake in shares of D.R. Horton by 20.5% in the fourth quarter. Handelsbanken Fonder AB now owns 97,275 shares of the construction company’s stock worth $14,784,000 after acquiring an additional 16,573 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in shares of D.R. Horton in the first quarter worth $1,249,000. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of D.R. Horton by 12.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,241 shares of the construction company’s stock worth $10,371,000 after acquiring an additional 7,600 shares during the last quarter. Finally, Vinva Investment Management Ltd increased its stake in shares of D.R. Horton by 59.3% in the fourth quarter. Vinva Investment Management Ltd now owns 81,125 shares of the construction company’s stock worth $12,537,000 after acquiring an additional 30,186 shares during the last quarter. 90.63% of the stock is owned by institutional investors and hedge funds.

Insider Activity at D.R. Horton

In related news, Director Michael R. Buchanan sold 2,000 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $150.70, for a total value of $301,400.00. Following the completion of the sale, the director now owns 1,703 shares in the company, valued at $256,642.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 1.74% of the stock is owned by corporate insiders.

D.R. Horton Stock Performance

DHI stock traded up $4.24 during mid-day trading on Friday, reaching $176.94. 3,353,877 shares of the stock traded hands, compared to its average volume of 3,178,242. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. D.R. Horton, Inc. has a 52 week low of $100.08 and a 52 week high of $180.15. The business has a 50-day moving average of $147.75 and a two-hundred day moving average of $149.16. The firm has a market capitalization of $57.65 billion, a PE ratio of 12.04, a P/E/G ratio of 0.79 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.75 by $0.35. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The company had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same period in the prior year, the company earned $3.90 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, equities analysts predict that D.R. Horton, Inc. will post 14.45 EPS for the current fiscal year.

D.R. Horton declared that its board has initiated a stock buyback program on Thursday, July 18th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the construction company to buy up to 6.9% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

D.R. Horton Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Investors of record on Thursday, August 1st will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 0.68%. The ex-dividend date of this dividend is Thursday, August 1st. D.R. Horton’s payout ratio is presently 8.17%.

Analysts Set New Price Targets

DHI has been the topic of a number of research reports. Barclays upped their price target on shares of D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Royal Bank of Canada upped their price target on shares of D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a research note on Friday, July 19th. StockNews.com downgraded shares of D.R. Horton from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Keefe, Bruyette & Woods upped their price target on shares of D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 23rd. Finally, Bank of America upped their price objective on shares of D.R. Horton from $168.00 to $196.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $175.60.

About D.R. Horton

D.R. Horton, Inc operates as a homebuilding company in East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. It engages in the acquisition and development of land; and construction and sale of residential homes in 118 markets across 33 states under the names of D.R.