D.R. Horton, Inc. (DHI) Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund
Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in D.R. Horton, Inc. (NYSE:DHI) by 16.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 88,600 shares of the construction company’s stock after buying an additional 12,659 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in D.R. Horton were worth $3,063,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. boosted its position in shares of D.R. Horton by 2.3% in the first quarter. Nomura Asset Management Co. Ltd. now owns 42,940 shares of the construction company’s stock valued at $1,430,000 after buying an additional 950 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. boosted its position in shares of D.R. Horton by 38.6% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 8,596 shares of the construction company’s stock worth $286,000 after buying an additional 2,396 shares in the last quarter. Swiss National Bank boosted its position in shares of D.R. Horton by 28.9% in the first quarter. Swiss National Bank now owns 1,255,274 shares of the construction company’s stock worth $41,813,000 after buying an additional 281,200 shares in the last quarter. Wedbush Securities Inc. acquired a new position in shares of D.R. Horton during the second quarter worth about $567,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of D.R. Horton during the first quarter worth about $333,000. 82.30% of the stock is currently owned by institutional investors and hedge funds.
Shares of D.R. Horton, Inc. (NYSE DHI) opened at 35.44 on Thursday. The firm has a 50 day moving average of $36.28 and a 200 day moving average of $33.84. The firm has a market cap of $13.26 billion, a price-to-earnings ratio of 13.28 and a beta of 1.25. D.R. Horton, Inc. has a 52 week low of $26.69 and a 52 week high of $37.44.
D.R. Horton (NYSE:DHI) last posted its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.01. D.R. Horton had a net margin of 7.38% and a return on equity of 14.19%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.71 billion. During the same period last year, the company posted $0.66 EPS. The firm’s quarterly revenue was up 17.0% compared to the same quarter last year. 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 stock repurchase program on Wednesday, July 26th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the construction company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
The business also recently declared 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 1.13%. D.R. Horton’s payout ratio is currently 15.04%.
A number of equities analysts have issued reports on DHI shares. Deutsche Bank AG reissued a “hold” rating and issued a $36.00 target price (up previously from $34.00) on shares of D.R. Horton in a report on Thursday, July 27th. Credit Suisse Group started coverage on shares of D.R. Horton in a report on Thursday, June 22nd. They issued an “outperform” rating and a $38.00 target price on the stock. 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 on the stock in a report on Friday, June 30th. Wells Fargo & Company reissued an “outperform” rating and issued a $41.00 target price (up previously from $39.00) on shares of D.R. Horton in a report on Monday, July 10th. Finally, BidaskClub raised shares of D.R. Horton from a “hold” rating to a “buy” rating in a report on Thursday, July 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $36.59.
In other news, Director Barbara K. Allen sold 1,666 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $36.03, for a total value of $60,025.98. Following the sale, the director now directly owns 7,316 shares in the company, valued at approximately $263,595.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 7.20% of the company’s stock.
D.R. Horton Company Profile
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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