IFM Investors Pty Ltd acquired a new stake in shares of D.R. Horton, Inc. (NYSE:DHI) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 11,050 shares of the construction company’s stock, valued at approximately $382,000.
Several other large investors have also added to or reduced their stakes in DHI. Benjamin F. Edwards & Company Inc. bought a new position in shares of D.R. Horton during the 1st quarter valued at about $117,000. Seven Bridges Advisors LLC bought a new position in shares of D.R. Horton during the 2nd quarter valued at about $150,000. Paradigm Asset Management Co. LLC lifted its holdings in shares of D.R. Horton by 4.5% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the construction company’s stock valued at $159,000 after purchasing an additional 200 shares in the last quarter. Creative Planning lifted its stake in D.R. Horton by 6.9% in the 2nd quarter. Creative Planning now owns 5,665 shares of the construction company’s stock valued at $196,000 after acquiring an additional 364 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new stake in D.R. Horton in the 2nd quarter valued at approximately $202,000. Institutional investors and hedge funds own 82.29% of the company’s stock.
In related news, Director Barbara K. Allen sold 1,666 shares of D.R. Horton stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $36.03, for a total transaction of $60,025.98. Following the sale, the director now directly owns 7,316 shares in the company, valued at $263,595.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Bradley S. Anderson sold 10,000 shares of D.R. Horton stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $37.46, for a total value of $374,600.00. Following the sale, the director now owns 36,828 shares in the company, valued at $1,379,576.88. The disclosure for this sale can be found here. Insiders have sold 24,666 shares of company stock worth $912,606 over the last quarter. 7.20% of the stock is currently owned by corporate insiders.
D.R. Horton, Inc. (DHI) opened at 36.90 on Friday. D.R. Horton, Inc. has a 12-month low of $26.69 and a 12-month high of $37.78. The firm has a market capitalization of $13.81 billion, a price-to-earnings ratio of 13.83 and a beta of 1.24. The company’s 50 day moving average price is $36.29 and its 200-day moving average price is $34.51.
D.R. Horton (NYSE:DHI) last issued its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.71 billion. D.R. Horton had a return on equity of 14.19% and a net margin of 7.38%. D.R. Horton’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the company posted $0.66 earnings per share. On average, equities analysts anticipate that D.R. Horton, Inc. will post $2.77 earnings per share for the current fiscal year.
D.R. Horton announced that its board has initiated a share buyback program on Wednesday, July 26th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the construction company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Several research firms have commented on DHI. BidaskClub upgraded D.R. Horton from a “sell” rating to a “hold” rating in a research note on Monday, August 14th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $38.00 target price on shares of D.R. Horton in a research note on Tuesday, June 6th. Wedbush restated an “outperform” rating on shares of D.R. Horton in a research note on Saturday, September 16th. Royal Bank Of Canada boosted their target price on D.R. Horton from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, July 13th. Finally, Bank of America Corporation restated a “buy” rating and issued a $42.00 target price (up previously from $41.00) on shares of D.R. Horton in a research note on Tuesday, June 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $36.59.
About D.R. Horton
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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