D.R. Horton (NYSE:DHI) Hits New 1-Year High at $193.63

D.R. Horton, Inc. (NYSE:DHI) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $193.63 and last traded at $192.74, with a volume of 100204 shares traded. The stock had previously closed at $188.81.

Analyst Upgrades and Downgrades

DHI has been the subject of a number of recent research reports. Keefe, Bruyette & Woods upped their target price on D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Bank of America upped their target price on D.R. Horton from $168.00 to $196.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. JMP Securities upped their target price on D.R. Horton from $170.00 to $210.00 and gave the stock a “market outperform” rating in a report on Friday, July 19th. StockNews.com cut D.R. Horton from a “buy” rating to a “hold” rating in a report on Thursday, May 23rd. Finally, JPMorgan Chase & Co. increased their price target on D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, D.R. Horton has an average rating of “Hold” and a consensus target price of $182.07.

D.R. Horton Stock Performance

The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $63.29 billion, a P/E ratio of 12.85, a price-to-earnings-growth ratio of 0.86 and a beta of 1.73. The company’s 50 day moving average is $174.36 and its 200-day moving average is $157.43.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same quarter in the prior year, the business 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 anticipate that D.R. Horton, Inc. will post 14.03 EPS for the current year.

D.R. Horton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.62%. D.R. Horton’s dividend payout ratio is currently 8.17%.

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. Norges Bank purchased a new position in D.R. Horton during the fourth quarter worth about $516,530,000. Vanguard Group Inc. boosted its stake in shares of D.R. Horton by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock worth $5,735,620,000 after buying an additional 2,474,262 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of D.R. Horton by 1,761.6% in the second quarter. Assenagon Asset Management S.A. now owns 1,043,909 shares of the construction company’s stock valued at $147,118,000 after acquiring an additional 987,834 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of D.R. Horton by 51.2% during the second quarter. Principal Financial Group Inc. now owns 1,657,028 shares of the construction company’s stock valued at $233,525,000 after acquiring an additional 561,337 shares during the last quarter. Finally, Long Pond Capital LP lifted its holdings in D.R. Horton by 438.6% during the first quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock worth $108,564,000 after acquiring an additional 537,276 shares during the period. Institutional investors own 90.63% of the company’s stock.

D.R. Horton Company Profile

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.