Teacher Retirement System of Texas lowered its stake in D.R. Horton, Inc. (NYSE:DHI) by 0.1% during the second quarter, Holdings Channel reports. The firm owned 187,786 shares of the construction company’s stock after selling 127 shares during the period. Teacher Retirement System of Texas’ holdings in D.R. Horton were worth $6,492,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of DHI. DekaBank Deutsche Girozentrale raised its stake in D.R. Horton by 44.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 55,054 shares of the construction company’s stock valued at $1,936,000 after buying an additional 16,906 shares during the period. Arizona State Retirement System raised its stake in D.R. Horton by 0.8% in the second quarter. Arizona State Retirement System now owns 84,800 shares of the construction company’s stock valued at $2,932,000 after buying an additional 700 shares during the period. Schwab Charles Investment Management Inc. raised its stake in D.R. Horton by 7.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,122,312 shares of the construction company’s stock valued at $38,799,000 after buying an additional 81,462 shares during the period. Wetherby Asset Management Inc. purchased a new stake in D.R. Horton during the second quarter valued at approximately $204,000. Finally, Canada Pension Plan Investment Board raised its stake in D.R. Horton by 15.1% in the second quarter. Canada Pension Plan Investment Board now owns 277,802 shares of the construction company’s stock valued at $9,604,000 after buying an additional 36,500 shares during the period. Institutional investors own 82.36% of the company’s stock.

D.R. Horton, Inc. (NYSE:DHI) opened at 36.62 on Tuesday. D.R. Horton, Inc. has a 12-month low of $26.69 and a 12-month high of $37.44. The firm has a market capitalization of $13.71 billion, a PE ratio of 13.72 and a beta of 1.25. The company has a 50-day moving average price of $35.91 and a 200-day moving average price of $33.51.

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 the Thomson Reuters’ consensus estimate of $0.75 by $0.01. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.71 billion. D.R. Horton had a net margin of 7.38% and a return on equity of 14.19%. D.R. Horton’s revenue for the quarter was up 17.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.66 EPS. On average, analysts predict that D.R. Horton, Inc. will post $2.78 earnings per share for the current year.

D.R. Horton announced that its Board of Directors has initiated a stock buyback plan on Wednesday, July 26th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the construction company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Wednesday, August 9th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Monday, August 7th. This represents a $0.40 annualized dividend and a yield of 1.09%. D.R. Horton’s payout ratio is currently 15.04%.

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Several equities research analysts have commented on the company. BidaskClub upgraded D.R. Horton from a “sell” rating to a “hold” rating in a research note on Monday. Deutsche Bank AG reiterated a “hold” rating and set a $36.00 price objective (up from $34.00) on shares of D.R. Horton in a research note on Thursday, July 27th. Wedbush boosted their price objective on D.R. Horton from $36.00 to $42.00 and gave the stock an “outperform” rating in a research note on Monday, July 17th. Royal Bank Of Canada boosted their price objective on D.R. Horton from $37.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, July 13th. Finally, Wells Fargo & Company reiterated an “outperform” rating and set a $41.00 price objective (up from $39.00) on shares of D.R. Horton in a research note on Monday, July 10th. Seven investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. D.R. Horton currently has a consensus rating of “Buy” and an average target price of $36.59.

In other D.R. Horton news, Director Barbara K. Allen sold 1,666 shares of D.R. Horton 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 completion of the sale, the director now directly owns 7,316 shares of the company’s stock, valued at approximately $263,595.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.20% of the stock is currently owned by insiders.

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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Institutional Ownership by Quarter for D.R. Horton (NYSE:DHI)

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