D.R. Horton, Inc. (NYSE:DHI) Plans $0.30 Quarterly Dividend

D.R. Horton, Inc. (NYSE:DHI) declared a quarterly dividend on Thursday, April 18th, RTT News reports. Stockholders of record on Thursday, May 2nd will be given a dividend of 0.30 per share by the construction company on Thursday, May 9th. This represents a $1.20 annualized dividend and a dividend yield of 0.82%.

D.R. Horton has raised its dividend by an average of 13.1% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. D.R. Horton has a payout ratio of 7.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect D.R. Horton to earn $15.65 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 7.7%.

D.R. Horton Price Performance

DHI stock opened at $145.74 on Thursday. D.R. Horton has a one year low of $100.08 and a one year high of $165.75. The company’s fifty day moving average price is $151.94 and its 200-day moving average price is $138.37. The company has a debt-to-equity ratio of 0.22, a quick ratio of 1.20 and a current ratio of 6.56. The company has a market capitalization of $48.36 billion, a PE ratio of 10.48, a price-to-earnings-growth ratio of 0.72 and a beta of 1.64.

D.R. Horton (NYSE:DHI) last released its earnings results on Tuesday, January 23rd. The construction company reported $2.82 EPS for the quarter, missing the consensus estimate of $2.88 by ($0.06). D.R. Horton had a return on equity of 21.06% and a net margin of 13.18%. The company had revenue of $7.73 billion during the quarter, compared to analysts’ expectations of $7.55 billion. During the same period last year, the firm posted $2.76 EPS. D.R. Horton’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts anticipate that D.R. Horton will post 14.24 EPS for the current fiscal year.

Insider Transactions at D.R. Horton

In other news, insider David V. Auld sold 25,000 shares of D.R. Horton stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $156.33, for a total value of $3,908,250.00. Following the completion of the transaction, the insider now owns 773,121 shares in the company, valued at approximately $120,862,005.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other D.R. Horton news, Director Barbara K. Allen sold 1,748 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $143.26, for a total value of $250,418.48. Following the completion of the sale, the director now owns 5,650 shares in the company, valued at $809,419. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider David V. Auld sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $156.33, for a total value of $3,908,250.00. Following the completion of the sale, the insider now owns 773,121 shares of the company’s stock, valued at approximately $120,862,005.93. The disclosure for this sale can be found here. Insiders have sold a total of 27,197 shares of company stock worth $4,225,745 in the last quarter. Company insiders own 1.74% of the company’s stock.

Institutional Investors Weigh In On D.R. Horton

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in D.R. Horton by 1.1% in the first quarter. Vanguard Group Inc. now owns 35,902,967 shares of the construction company’s stock valued at $2,675,130,000 after buying an additional 406,429 shares during the last quarter. State Street Corp increased its holdings in shares of D.R. Horton by 3.6% in the first quarter. State Street Corp now owns 13,712,390 shares of the construction company’s stock valued at $1,339,558,000 after purchasing an additional 480,247 shares during the period. Geode Capital Management LLC increased its holdings in shares of D.R. Horton by 0.7% in the first quarter. Geode Capital Management LLC now owns 6,515,717 shares of the construction company’s stock valued at $635,060,000 after purchasing an additional 45,030 shares during the period. Invesco Ltd. increased its holdings in shares of D.R. Horton by 17.0% in the first quarter. Invesco Ltd. now owns 4,771,705 shares of the construction company’s stock valued at $355,538,000 after purchasing an additional 694,155 shares during the period. Finally, Moneta Group Investment Advisors LLC increased its holdings in shares of D.R. Horton by 101,707.6% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 4,368,566 shares of the construction company’s stock valued at $389,414,000 after purchasing an additional 4,364,275 shares during the period. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. BTIG Research reduced their price target on shares of D.R. Horton from $174.00 to $169.00 and set a “buy” rating on the stock in a research report on Tuesday. Citigroup upped their price target on shares of D.R. Horton from $166.00 to $191.00 and gave the stock a “buy” rating in a report on Friday, April 5th. Keefe, Bruyette & Woods cut their price target on shares of D.R. Horton from $175.00 to $172.00 and set an “outperform” rating on the stock in a report on Wednesday, January 24th. Royal Bank of Canada upped their price target on shares of D.R. Horton from $116.00 to $142.00 and gave the stock an “underperform” rating in a report on Monday, January 22nd. Finally, Barclays upped their price target on shares of D.R. Horton from $166.00 to $186.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, D.R. Horton has a consensus rating of “Moderate Buy” and an average price target of $154.00.

D.R. Horton Company Profile

D.R. Horton, Inc operates as a homebuilding company in East, North, Southeast, South Central, Southwest, and Northwest regions in the United States. It engages in the acquisition and development of land; and construction and sale of residential homes in 118 markets across 33 states under the names of D.R.