Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Raises Position in D.R. Horton, Inc. (DHI)
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in D.R. Horton, Inc. (NYSE:DHI) by 6.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,281 shares of the construction company’s stock after buying an additional 3,526 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in D.R. Horton were worth $2,167,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of DHI. Sirios Capital Management L P bought a new position in D.R. Horton in the 2nd quarter valued at approximately $36,744,000. Junto Capital Management LP bought a new position in D.R. Horton during the 2nd quarter worth approximately $29,747,000. PDT Partners LLC bought a new position in D.R. Horton during the 2nd quarter worth approximately $24,522,000. Wedge Capital Management L L P NC raised its holdings in D.R. Horton by 21.2% during the 3rd quarter. Wedge Capital Management L L P NC now owns 3,366,752 shares of the construction company’s stock worth $134,434,000 after purchasing an additional 588,327 shares during the last quarter. Finally, Teachers Advisors LLC raised its holdings in D.R. Horton by 60.7% during the 2nd quarter. Teachers Advisors LLC now owns 1,519,310 shares of the construction company’s stock worth $52,523,000 after purchasing an additional 573,612 shares during the last quarter. Institutional investors and hedge funds own 81.97% of the company’s stock.
In related news, Director Michael W. Hewatt sold 4,000 shares of D.R. Horton stock in a transaction on Friday, September 8th. The shares were sold at an average price of $36.11, for a total value of $144,440.00. Following the completion of the sale, the director now owns 8,000 shares of the company’s stock, valued at approximately $288,880. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Bradley S. Anderson sold 10,000 shares of D.R. Horton stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $37.46, for a total transaction of $374,600.00. Following the completion of the sale, the director now directly owns 36,828 shares of the company’s stock, valued at approximately $1,379,576.88. The disclosure for this sale can be found here. In the last three months, insiders sold 23,000 shares of company stock valued at $852,580. 7.20% of the stock is currently owned by insiders.
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Shares of D.R. Horton, Inc. (NYSE DHI) opened at $46.00 on Friday. D.R. Horton, Inc. has a 52-week low of $27.15 and a 52-week high of $46.80. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.93 and a quick ratio of 0.71. The stock has a market cap of $17,217.02, a price-to-earnings ratio of 16.85, a P/E/G ratio of 1.11 and a beta of 1.28.
D.R. Horton (NYSE:DHI) last posted its quarterly earnings results on Thursday, November 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, missing the 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 business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $4 billion. During the same period in the previous year, the business posted $0.75 EPS. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. equities analysts forecast that D.R. Horton, Inc. will post 3.15 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a $0.125 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.50 annualized dividend and a yield of 1.09%. This is an increase from D.R. Horton’s previous quarterly dividend of $0.10. D.R. Horton’s dividend payout ratio (DPR) is presently 14.65%.
D.R. Horton declared that its board has initiated a share buyback program on Wednesday, July 26th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several research analysts have issued reports on DHI shares. Deutsche Bank AG restated a “hold” rating and set a $36.00 price target (up previously from $34.00) on shares of D.R. Horton in a report on Thursday, July 27th. KeyCorp raised their price target on shares of D.R. Horton from $41.00 to $46.00 and gave the stock a “buy” rating in a report on Friday, October 20th. Citigroup Inc. restated a “neutral” rating and set a $42.00 price target (up previously from $34.00) on shares of D.R. Horton in a report on Monday, October 9th. Wedbush restated an “outperform” rating on shares of D.R. Horton in a report on Saturday, September 16th. Finally, UBS AG started coverage on shares of D.R. Horton in a report on Wednesday, October 25th. They set a “buy” rating and a $50.00 price target for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $43.11.
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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