D.R. Horton (NYSE:DHI) Shares Gap Up Following Strong Earnings

D.R. Horton, Inc. (NYSE:DHI)’s share price gapped up prior to trading on Thursday following a better than expected earnings announcement. The stock had previously closed at $145.74, but opened at $153.00. D.R. Horton shares last traded at $150.01, with a volume of 1,129,086 shares changing hands.

The construction company reported $3.52 EPS for the quarter, topping analysts’ consensus estimates of $3.09 by $0.43. The company had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.15 billion. D.R. Horton had a return on equity of 21.06% and a net margin of 13.18%. The firm’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.73 EPS.

D.R. Horton Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Thursday, May 2nd will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.79%. D.R. Horton’s payout ratio is currently 8.63%.

Analyst Ratings Changes

Several research firms have recently issued reports on DHI. Wedbush reissued an “underperform” rating and set a $130.00 target price on shares of D.R. Horton in a research note on Thursday. The Goldman Sachs Group upped their target price on shares of D.R. Horton from $150.00 to $173.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Raymond James upped their price target on D.R. Horton from $140.00 to $160.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Barclays raised their target price on shares of D.R. Horton from $166.00 to $186.00 and gave the stock an “overweight” rating in a research note on Thursday, April 4th. Finally, Seaport Res Ptn downgraded shares of D.R. Horton from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $154.00.

Insider Transactions at D.R. Horton

In related news, insider David V. Auld sold 25,000 shares of the firm’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 transaction, the insider now owns 773,121 shares in the company, valued at $120,862,005.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider David V. Auld sold 25,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $156.33, for a total transaction of $3,908,250.00. Following the transaction, the insider now directly owns 773,121 shares of the company’s stock, valued at $120,862,005.93. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Barbara K. Allen sold 449 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $149.39, for a total transaction of $67,076.11. Following the completion of the transaction, the director now owns 5,650 shares in the company, valued at approximately $844,053.50. 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 three months. 1.74% of the stock is currently owned by company insiders.

Institutional Trading of D.R. Horton

Several institutional investors have recently made changes to their positions in the stock. Rise Advisors LLC purchased a new position in D.R. Horton in the first quarter valued at about $27,000. Riverview Trust Co bought a new position in D.R. Horton during the first quarter valued at approximately $30,000. Oakworth Capital Inc. acquired a new stake in D.R. Horton in the fourth quarter valued at approximately $38,000. BOKF NA increased its stake in shares of D.R. Horton by 873.1% during the 4th quarter. BOKF NA now owns 253 shares of the construction company’s stock worth $38,000 after purchasing an additional 227 shares during the last quarter. Finally, Private Wealth Management Group LLC acquired a new stake in shares of D.R. Horton in the 4th quarter valued at $42,000. 90.63% of the stock is currently owned by institutional investors and hedge funds.

D.R. Horton Stock Performance

The company has a market cap of $50.09 billion, a price-to-earnings ratio of 10.79, a P/E/G ratio of 0.72 and a beta of 1.64. The company has a debt-to-equity ratio of 0.22, a current ratio of 6.56 and a quick ratio of 1.20. The firm has a fifty day simple moving average of $151.94 and a 200 day simple moving average of $138.37.

About D.R. Horton

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.