Grassi Investment Management Purchases New Position in D. R. Horton Inc (DHI)
Grassi Investment Management purchased a new position in shares of D. R. Horton Inc (NYSE:DHI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,150 shares of the construction company’s stock, valued at approximately $212,000.
Other hedge funds have also modified their holdings of the company. Csenge Advisory Group bought a new stake in shares of D. R. Horton during the 3rd quarter worth approximately $237,000. Cetera Investment Advisers bought a new stake in shares of D. R. Horton during the 2nd quarter worth approximately $216,000. Goodman Financial Corp lifted its stake in shares of D. R. Horton by 4.2% during the 3rd quarter. Goodman Financial Corp now owns 188,218 shares of the construction company’s stock worth $7,516,000 after acquiring an additional 7,593 shares during the last quarter. Toronto Dominion Bank lifted its stake in shares of D. R. Horton by 11.5% during the 3rd quarter. Toronto Dominion Bank now owns 134,772 shares of the construction company’s stock worth $5,382,000 after acquiring an additional 13,940 shares during the last quarter. Finally, Barometer Capital Management Inc. lifted its stake in shares of D. R. Horton by 2,135.3% during the 3rd quarter. Barometer Capital Management Inc. now owns 462,700 shares of the construction company’s stock worth $18,476,000 after acquiring an additional 442,000 shares during the last quarter. 83.94% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Michael W. Hewatt sold 2,000 shares of D. R. Horton stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $47.86, for a total value of $95,720.00. Following the transaction, the director now directly owns 6,000 shares in the company, valued at approximately $287,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michael J. Murray sold 7,000 shares of D. R. Horton stock in a transaction on Monday, November 20th. The shares were sold at an average price of $48.23, for a total value of $337,610.00. Following the completion of the transaction, the chief operating officer now owns 56,304 shares in the company, valued at $2,715,541.92. The disclosure for this sale can be found here. Insiders sold a total of 28,677 shares of company stock worth $1,410,293 over the last quarter. Company insiders own 6.74% of the company’s stock.
Shares of D. R. Horton Inc (NYSE:DHI) traded down $1.86 during trading hours on Wednesday, hitting $50.97. The stock had a trading volume of 4,583,519 shares, compared to its average volume of 3,532,386. D. R. Horton Inc has a twelve month low of $27.97 and a twelve month high of $53.32. The stock has a market cap of $19,160.00, a P/E ratio of 18.60, a PEG ratio of 1.62 and a beta of 1.32. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.93 and a quick ratio of 1.02.
D. R. Horton (NYSE:DHI) last announced its quarterly earnings results on Thursday, November 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by ($0.04). D. R. Horton had a net margin of 7.37% and a return on equity of 14.13%. The company had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $4 billion. During the same quarter in the prior year, the business posted $0.75 earnings per share. The company’s revenue was up 11.4% compared to the same quarter last year. sell-side analysts forecast that D. R. Horton Inc will post 3.24 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a $0.125 dividend. The ex-dividend date was Thursday, November 30th. This is an increase from D. R. Horton’s previous quarterly dividend of $0.10. This represents a $0.50 dividend on an annualized basis and a dividend yield of 0.98%. D. R. Horton’s dividend payout ratio (DPR) is currently 18.25%.
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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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