D.R. Horton Inc. (DHI) Sets New 52-Week High at $34.45
Shares of D.R. Horton Inc. (NYSE:DHI) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $34.45 and last traded at $34.31, with a volume of 2,153,660 shares trading hands. The stock had previously closed at $34.07.
DHI has been the subject of several research reports. Barclays PLC boosted their price objective on shares of D.R. Horton from $32.00 to $34.00 and gave the company an “equal weight” rating in a research note on Friday, April 22nd. Zacks Investment Research raised shares of D.R. Horton from a “hold” rating to a “buy” rating and set a $33.00 price objective for the company in a research note on Tuesday, March 29th. Credit Suisse Group AG reissued a “hold” rating on shares of D.R. Horton in a research note on Tuesday, July 12th. FBN Securities cut shares of D.R. Horton from a “sector perform” rating to an “underperform” rating in a research note on Monday, April 18th. Finally, Sterne Agee CRT cut shares of D.R. Horton from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research note on Friday, April 22nd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. D.R. Horton has a consensus rating of “Hold” and an average target price of $32.14.
The firm has a market capitalization of $12.72 billion and a price-to-earnings ratio of 15.74. The firm’s 50 day moving average price is $31.95 and its 200 day moving average price is $29.49.
D.R. Horton (NYSE:DHI) last announced its quarterly earnings results on Thursday, July 21st. The company reported $0.66 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.66. During the same quarter last year, the company earned $0.60 EPS. The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.25 billion. The business’s revenue for the quarter was up 12.4% compared to the same quarter last year. On average, analysts expect that D.R. Horton Inc. will post $2.39 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 19th. Stockholders of record on Monday, August 8th will be paid a dividend of $0.08 per share. The ex-dividend date of this dividend is Thursday, August 4th. This represents a $0.32 annualized dividend and a dividend yield of 0.93%.
In other news, CFO Bill W. Wheat sold 40,000 shares of the stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $30.37, for a total transaction of $1,214,800.00. Following the transaction, the chief financial officer now owns 108,014 shares in the company, valued at approximately $3,280,385.18. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Donald R. Horton sold 149,035 shares of the stock in a transaction on Friday, April 29th. The stock was sold at an average price of $29.88, for a total transaction of $4,453,165.80. Following the transaction, the chairman now owns 24,977,347 shares in the company, valued at approximately $746,323,128.36. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently bought and sold shares of DHI. Cornerstone Capital Management Holdings LLC. raised its position in D.R. Horton by 280.8% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 277,735 shares of the company’s stock worth $8,895,000 after buying an additional 204,791 shares during the last quarter. USA Financial Portformulas Corp raised its position in D.R. Horton by 43.9% in the fourth quarter. USA Financial Portformulas Corp now owns 130,362 shares of the company’s stock worth $4,175,000 after buying an additional 39,757 shares during the last quarter. Morgan Stanley raised its position in D.R. Horton by 56.6% in the fourth quarter. Morgan Stanley now owns 3,214,773 shares of the company’s stock worth $102,970,000 after buying an additional 1,161,270 shares during the last quarter. Gulf International Bank UK Ltd raised its position in D.R. Horton by 3.2% in the fourth quarter. Gulf International Bank UK Ltd now owns 97,543 shares of the company’s stock worth $3,124,000 after buying an additional 3,040 shares during the last quarter. Finally, RidgeWorth Capital Management LLC raised its position in D.R. Horton by 0.4% in the fourth quarter. RidgeWorth Capital Management LLC now owns 538,350 shares of the company’s stock worth $17,243,000 after buying an additional 2,051 shares during the last quarter.
D.R. Horton, Inc is a homebuilding company. The Company is engaged in the acquisition and development of land and the construction and sale of residential homes, through its operating divisions in around 27 states and over 79 metropolitan markets of the United States, under the names of D.R. Horton, America’s Builder, Express Homes, Emerald Homes, Breland Homes, Regent Homes, Crown Communities and Pacific Ridge Homes.
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