According to a recent filing with the Securities and Exchange Commission (SEC), Summit Global Investments has acquired a new stake in D.R. Horton, Inc. (NYSE:DHI) during the second quarter of this year. The institutional investor purchased 1,985 shares of the construction company’s stock, valued at approximately $242,000.
D.R. Horton recently released its quarterly earnings data on July 20th, reporting earnings per share (EPS) of $3.90 for the quarter. This exceeded analysts’ consensus estimates of $2.82 by $1.08. The company achieved a net margin of 14.07% and a return on equity of 23.31%. Furthermore, D.R. Horton generated revenue amounting to $9.73 billion during the quarter, surpassing the consensus estimate of $8.27 billion.
Compared to the same period last year, D.R. Horton’s quarterly revenue saw an increase of 10.7%. While analysts predict that the company will post earnings per share amounting to 13.27 for the current fiscal year as a whole.
Several equities research analysts have recently released reports regarding D.R. Horton’s stock performance and provided their recommendations for investors in light of these findings. On Thursday, August 17th, StockNews.com initiated coverage on shares of D.R. Horton and assigned it a “hold” rating. Meanwhile, Credit Suisse Group reiterated their “neutral” rating with a price target of $120.00 on July 21st.
Similarly, Wedbush maintained their “neutral” rating with a price target set at $115.00 on September 13th while Argus raised their price objective from $135 to $145 and gave D.R.Horton a “buy” rating on July 24th.Bank of America raised their price objective from $122 to $130 on June 14th.
Currently, data from Bloomberg indicates that D.R. Horton has an average consensus rating of “Moderate Buy” and an average price target of $136.19 based on the evaluation of one analyst who has rated the stock as a sell, eight as a hold, and eleven as a buy.
These recent developments showcase the growing interest in D.R. Horton by institutional investors such as &Summit Global Investments. Additionally, the company’s solid financial performance has prompted positive reactions from equities research analysts who have provided varying recommendations to investors. As we move forward into the rest of this fiscal year, it will be interesting to observe how D.R. Horton continues to perform within the construction industry and how it delivers value to its investors.
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Increased Institutional Investor Interest in D.R. Horton Boosts Confidence in Growth Potential
D.R. Horton, Inc., a leading home construction company, has seen significant activity from large institutional investors in recent months. &Other investors, such as Clear Street Markets LLC, Fairfield Bush & CO., WealthPLAN Partners LLC, Sugarloaf Wealth Management LLC, and Resurgent Financial Advisors LLC have all acquired new positions in the company’s shares.
Clear Street Markets LLC purchased shares of D.R. Horton during the fourth quarter of last year valued at $28,000. Similarly, Fairfield Bush & CO. bought a new position in the company worth about $28,000 during the first quarter of this year. WealthPLAN Partners LLC followed suit with a new position in D.R. Horton valued at approximately $31,000 during the same quarter. In addition, Sugarloaf Wealth Management LLC and Resurgent Financial Advisors LLC both acquired new positions during the first and fourth quarters respectively, with values amounting to $42,000 and $46,000.
These investments from institutional investors make up approximately 82.12% of the overall stock ownership currently held.
On Monday, October 2nd, D.R. Horton opened at $107.47 per share on the stock market. The company maintains a debt-to-equity ratio of 0.28 and possesses a current ratio of 6.97 along with a quick ratio of 1.41 – indicators that point to favorable financial health for the company.
Over the past year, D.R. Horton has seen its stock reach impressive highs and lows with trading values ranging from a low of $66.01 to a high of $132.30 within that time frame.
Currently standing at a market capitalization value of $36.36 billion and enjoying a price-earnings (P/E) ratio of 7.64 along with an admirable P/E/G (Price-to-Earnings-to-Growth) ratio of 0.44 – which suggests strong growth prospects – D.R. Horton maintains a beta of 1.56 (significant volatile changes compared to the overall market).
As of the last reporting period, D.R. Horton’s 50-day moving average stands at $118.75 per share, while its 200-day moving average is recorded at $112.95.
Recent reports by equities research analysts also shed light on the performance and potential of D.R. Horton stock. StockNews.com recently initiated coverage on shares of the company, giving it a “hold” rating, while Credit Suisse Group expressed a “neutral” rating and assigned a price target of $120.00 per share. Wedbush echoed this sentiment with a “neutral” rating and set a price target of $115.00 per share.
On the other hand, Argus raised its price objective from $135.00 to $145.00, issuing a “buy” rating for D.R. Horton’s shares in their analysis released on July 24th of this year. Bank of America also increased its price objective from $122.00 to $130.00 in a report published on June 14th.
Overall, there is a range of analyst opinions surrounding D.R. Horton’s stock ranging from sell ratings to hold ratings and buy ratings alike, with an average consensus rating of “Moderate Buy.” The average price target set by analysts currently stands at $136.19.
In recent news directly related to the company’s stocks, D.R. Horton announced the payment of quarterly dividends on Monday, August 14th as part of its commitment to returning value to shareholders who held positions as of Monday, August 7th placing them in line for the dividend payment worth $0.25 per share owned.
This payout represents an annualized dividend amounting to $1.00 per share and yields approximately 0.93%. The ex-dividend date was Friday, August 4th. At present, D.R. Horton’s dividend payout ratio is calculated at 7.11%.
On another note, Director Michael R. Buchanan sold 1,639 shares of D.R. Horton stock on Monday, August 7th at an average price of $127.03 per share – amounting to a total transaction value of approximately $208,202.17. Following the completion of this sale, Buchanan retains ownership of 470 shares in the company which are valued at around $59,704.10.
This transaction was disclosed in a filing submitted to the U.S. Securities & Exchange Commission (SEC), accessible via their official website. As per SEC rules and regulations, any insider trades must be publicly disclosed thus providing transparency for shareholders and market participants.
In conclusion, D.R. Horton has seen notable interest from institutional investors in recent times with various prominent firms acquiring new positions in the company’s shares. Despite some mixed analyst opinions, the overall outlook for D.R. Horton remains positive with its strong financial position and potential for growth evident in its impressive financial metrics and ratings provided by experts in the field.
With these recent developments and ongoing investor activity surrounding D.R. Horton stock, it will be interesting to see how the company continues to perform
