Transcend Capital Advisors LLC Raises Stock Position in D.R. Horton, Inc. (NYSE:DHI)

Transcend Capital Advisors LLC grew its holdings in D.R. Horton, Inc. (NYSE:DHI) by 69.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,488 shares of the construction company’s stock after buying an additional 1,433 shares during the period. Transcend Capital Advisors LLC’s holdings in D.R. Horton were worth $492,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Rise Advisors LLC purchased a new position in shares of D.R. Horton during the 1st quarter worth about $27,000. RiverPark Advisors LLC purchased a new stake in D.R. Horton in the 1st quarter valued at about $29,000. Riverview Trust Co purchased a new stake in D.R. Horton in the 1st quarter valued at about $30,000. Oakworth Capital Inc. purchased a new stake in D.R. Horton in the 4th quarter valued at about $38,000. Finally, Private Wealth Management Group LLC purchased a new stake in D.R. Horton in the 4th quarter valued at about $42,000. 90.63% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on DHI shares. JMP Securities boosted their price objective on shares of D.R. Horton from $170.00 to $210.00 and gave the company a “market outperform” rating in a research report on Friday, July 19th. BTIG Research reduced their price target on shares of D.R. Horton from $174.00 to $169.00 and set a “buy” rating for the company in a report on Tuesday, April 16th. Bank of America boosted their price target on shares of D.R. Horton from $168.00 to $196.00 and gave the company a “buy” rating in a report on Monday, July 22nd. UBS Group boosted their price target on shares of D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Evercore ISI boosted their price target on shares of D.R. Horton from $191.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $175.60.

D.R. Horton Stock Performance

NYSE:DHI traded down $1.43 during trading hours on Friday, hitting $177.62. 3,179,679 shares of the company were exchanged, compared to its average volume of 3,294,546. The stock has a market capitalization of $57.88 billion, a price-to-earnings ratio of 12.09, a PEG ratio of 0.83 and a beta of 1.71. D.R. Horton, Inc. has a 52-week low of $100.08 and a 52-week high of $185.43. The company has a debt-to-equity ratio of 0.23, a current ratio of 7.22 and a quick ratio of 1.30. The company’s 50 day moving average price is $151.03 and its 200-day moving average price is $150.07.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, beating the consensus estimate of $3.75 by $0.35. The business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.61 billion. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The business’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.90 EPS. As a group, research analysts forecast that D.R. Horton, Inc. will post 14.04 earnings per share for the current year.

D.R. Horton Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.68%. The ex-dividend date of this dividend is Thursday, August 1st. D.R. Horton’s dividend payout ratio is presently 8.17%.

D.R. Horton announced that its Board of Directors has approved a share buyback plan on Thursday, July 18th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the construction company to repurchase up to 6.9% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other D.R. Horton news, Director Michael R. Buchanan sold 2,000 shares of the company’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $150.70, for a total transaction of $301,400.00. Following the completion of the transaction, the director now directly owns 1,703 shares in the company, valued at $256,642.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.74% of the stock is currently owned by company insiders.

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.