State Board of Administration of Florida Retirement System Purchases 28,084 Shares of D.R. Horton, Inc. (NYSE:DHI)

State Board of Administration of Florida Retirement System boosted its position in D.R. Horton, Inc. (NYSE:DHI) by 7.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 384,958 shares of the construction company’s stock after acquiring an additional 28,084 shares during the period. State Board of Administration of Florida Retirement System owned 0.12% of D.R. Horton worth $63,345,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Patton Fund Management Inc. acquired a new position in D.R. Horton in the first quarter valued at about $6,488,000. Entropy Technologies LP bought a new stake in D.R. Horton in the 1st quarter valued at $1,193,000. Russell Investments Group Ltd. raised its holdings in shares of D.R. Horton by 25.9% during the 1st quarter. Russell Investments Group Ltd. now owns 742,280 shares of the construction company’s stock worth $122,104,000 after buying an additional 152,499 shares in the last quarter. QRG Capital Management Inc. grew its position in D.R. Horton by 3.3% during the 1st quarter. QRG Capital Management Inc. now owns 360,307 shares of the construction company’s stock worth $59,289,000 after acquiring an additional 11,586 shares during the last quarter. Finally, Inspire Advisors LLC grew its position in D.R. Horton by 28.3% during the 1st quarter. Inspire Advisors LLC now owns 5,252 shares of the construction company’s stock worth $864,000 after acquiring an additional 1,160 shares during the last quarter. Institutional investors own 90.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Royal Bank of Canada cut their target price on D.R. Horton from $142.00 to $141.00 and set an “underperform” rating on the stock in a research report on Friday, April 19th. BTIG Research reduced their price target on D.R. Horton from $174.00 to $169.00 and set a “buy” rating on the stock in a report on Tuesday, April 16th. UBS Group lifted their price objective on shares of D.R. Horton from $192.00 to $200.00 and gave the company a “buy” rating in a report on Friday, April 19th. Wedbush reiterated an “underperform” rating and set a $130.00 price objective on shares of D.R. Horton in a research note on Thursday, April 18th. Finally, Bank of America decreased their price objective on shares of D.R. Horton from $182.00 to $168.00 and set a “buy” rating for the company in a research report on Friday, April 19th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $159.12.

Insider Activity

In other D.R. Horton news, Director Barbara K. Allen sold 363 shares of the stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $148.46, for a total value of $53,890.98. Following the sale, the director now directly owns 5,650 shares in the company, valued at $838,799. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Barbara K. Allen sold 363 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $148.46, for a total value of $53,890.98. Following the completion of the transaction, the director now owns 5,650 shares of the company’s stock, valued at $838,799. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael R. Buchanan sold 2,000 shares of D.R. Horton stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $150.70, for a total transaction of $301,400.00. Following the sale, the director now directly owns 1,703 shares of the company’s stock, valued at approximately $256,642.10. The disclosure for this sale can be found here. 1.74% of the stock is owned by corporate insiders.

D.R. Horton Stock Performance

Shares of DHI stock traded up $17.12 during trading hours on Thursday, reaching $174.63. The stock had a trading volume of 6,768,181 shares, compared to its average volume of 2,528,306. The firm has a market capitalization of $57.51 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 0.80 and a beta of 1.71. The company has a debt-to-equity ratio of 0.24, a current ratio of 7.35 and a quick ratio of 1.38. The firm has a 50-day simple moving average of $144.40 and a 200-day simple moving average of $147.99. D.R. Horton, Inc. has a twelve month low of $100.08 and a twelve month high of $177.47.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.30. The company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. D.R. Horton had a net margin of 13.39% and a return on equity of 21.32%. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter last year, the firm posted $3.90 earnings per share. As a group, equities analysts forecast that D.R. Horton, Inc. will post 14.29 earnings per share for the current year.

D.R. Horton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders 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 0.69%. D.R. Horton’s dividend payout ratio is presently 8.17%.

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.