Insider Selling: D.R. Horton, Inc. (DHI) Director Sells $333,540.00 in Stock
D.R. Horton, Inc. (NYSE:DHI) Director Michael R. Buchanan sold 9,000 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $37.06, for a total transaction of $333,540.00. Following the sale, the director now directly owns 24,880 shares of the company’s stock, valued at approximately $922,052.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.
D.R. Horton, Inc. (DHI) traded down 0.43% during mid-day trading on Friday, reaching $37.17. 5,452,118 shares of the company traded hands. The company’s 50-day moving average is $36.16 and its 200-day moving average is $34.37. The stock has a market capitalization of $13.91 billion, a price-to-earnings ratio of 13.93 and a beta of 1.24. D.R. Horton, Inc. has a 12-month low of $26.69 and a 12-month high of $37.78.
D.R. Horton (NYSE:DHI) last released its earnings results on Wednesday, July 26th. The construction company reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.01. D.R. Horton had a return on equity of 14.19% and a net margin of 7.38%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.71 billion. During the same period in the prior year, the firm posted $0.66 earnings per share. The company’s quarterly revenue was up 17.0% on a year-over-year basis. Equities analysts predict that D.R. Horton, Inc. will post $2.78 earnings per share for the current fiscal year.
D.R. Horton announced that its board has approved a share repurchase program on Wednesday, July 26th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the construction company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were paid a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 7th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.08%. D.R. Horton’s dividend payout ratio is currently 15.04%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mckinley Capital Management LLC Delaware purchased a new stake in shares of D.R. Horton in the second quarter worth $100,000. Tower Research Capital LLC TRC boosted its position in shares of D.R. Horton by 179.5% during the second quarter. Tower Research Capital LLC TRC now owns 3,591 shares of the construction company’s stock valued at $124,000 after buying an additional 2,306 shares during the last quarter. Evercore Wealth Management LLC boosted its position in shares of D.R. Horton by 5.7% during the second quarter. Evercore Wealth Management LLC now owns 3,700 shares of the construction company’s stock valued at $128,000 after buying an additional 200 shares during the last quarter. Benjamin F. Edwards & Company Inc. boosted its position in shares of D.R. Horton by 6.9% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 3,742 shares of the construction company’s stock valued at $129,000 after buying an additional 241 shares during the last quarter. Finally, Advisory Services Network LLC boosted its position in shares of D.R. Horton by 131.9% during the second quarter. Advisory Services Network LLC now owns 3,956 shares of the construction company’s stock valued at $137,000 after buying an additional 2,250 shares during the last quarter. 82.31% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on DHI. BidaskClub raised shares of D.R. Horton from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Deutsche Bank AG reissued a “hold” rating and set a $36.00 target price (up previously from $34.00) on shares of D.R. Horton in a research report on Thursday, July 27th. Raymond James Financial, Inc. raised shares of D.R. Horton from a “market perform” rating to an “outperform” rating and set a $39.00 target price for the company in a research report on Friday, June 30th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $38.00 target price on shares of D.R. Horton in a research report on Tuesday, June 6th. Finally, Royal Bank Of Canada increased their target price on shares of D.R. Horton from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average 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.
Receive News & Ratings for D.R. Horton Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for D.R. Horton Inc. and related companies with MarketBeat.com's FREE daily email newsletter.