Stolper Co Buys 973 Shares of D.R. Horton, Inc. (NYSE:DHI)

Stolper Co lifted its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 2.7% in the second quarter, Holdings Channel.com reports. The fund owned 36,669 shares of the construction company’s stock after acquiring an additional 973 shares during the quarter. D.R. Horton makes up approximately 1.8% of Stolper Co’s investment portfolio, making the stock its 23rd biggest position. Stolper Co’s holdings in D.R. Horton were worth $5,168,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in DHI. Vanguard Group Inc. lifted its position in shares of D.R. Horton by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 34,856,397 shares of the construction company’s stock worth $5,735,620,000 after purchasing an additional 2,474,262 shares during the period. Greenhaven Associates Inc. lifted its holdings in D.R. Horton by 2.3% in the second quarter. Greenhaven Associates Inc. now owns 3,669,893 shares of the construction company’s stock valued at $517,198,000 after buying an additional 81,900 shares during the period. Norges Bank bought a new stake in D.R. Horton during the fourth quarter valued at $516,530,000. Franklin Resources Inc. grew its holdings in D.R. Horton by 12.5% during the 4th quarter. Franklin Resources Inc. now owns 2,345,398 shares of the construction company’s stock worth $356,454,000 after acquiring an additional 260,864 shares during the period. Finally, Earnest Partners LLC lifted its stake in shares of D.R. Horton by 10.6% in the 1st quarter. Earnest Partners LLC now owns 2,055,012 shares of the construction company’s stock valued at $338,152,000 after purchasing an additional 196,748 shares during the period. 90.63% of the stock is currently owned by institutional investors.

D.R. Horton Price Performance

Shares of NYSE:DHI opened at $194.80 on Friday. The company has a current ratio of 7.22, a quick ratio of 1.30 and a debt-to-equity ratio of 0.23. The stock has a market cap of $63.47 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 0.86 and a beta of 1.73. The stock’s fifty day simple moving average is $175.54 and its two-hundred day simple moving average is $157.77. D.R. Horton, Inc. has a 1-year low of $100.08 and a 1-year high of $195.00.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.75 by $0.35. D.R. Horton had a net margin of 13.36% and a return on equity of 20.72%. The company had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same period last year, the firm earned $3.90 earnings per share. The firm’s revenue was up 2.5% on a year-over-year basis. As a group, analysts forecast that D.R. Horton, Inc. will post 14.03 EPS for the current fiscal year.

D.R. Horton declared that its board has authorized a share buyback plan on Thursday, July 18th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

D.R. Horton Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 dividend on an annualized basis and a yield of 0.62%. D.R. Horton’s dividend payout ratio (DPR) is presently 8.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DHI. Keefe, Bruyette & Woods lifted their target price on D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Royal Bank of Canada boosted their target price on shares of D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a research report on Friday, July 19th. Bank of America raised their price target on shares of D.R. Horton from $168.00 to $196.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. JMP Securities upped 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 report on Friday, July 19th. Finally, Citigroup downgraded D.R. Horton from a “buy” rating to a “neutral” rating and reduced their target price for the company from $181.00 to $156.00 in a research note on Tuesday, July 2nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $182.07.

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.