Morse Asset Management Inc Acquires 9,945 Shares of D.R. Horton, Inc. (NYSE:DHI)

Morse Asset Management Inc raised its holdings in D.R. Horton, Inc. (NYSE:DHI) by 68.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,555 shares of the construction company’s stock after purchasing an additional 9,945 shares during the period. Morse Asset Management Inc’s holdings in D.R. Horton were worth $4,041,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Manhattan West Asset Management LLC boosted its holdings in D.R. Horton by 11.6% in the 1st quarter. Manhattan West Asset Management LLC now owns 25,448 shares of the construction company’s stock valued at $4,187,000 after purchasing an additional 2,648 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of D.R. Horton by 0.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 410,878 shares of the construction company’s stock valued at $67,611,000 after buying an additional 3,069 shares in the last quarter. Long Pond Capital LP raised its position in shares of D.R. Horton by 438.6% in the 1st quarter. Long Pond Capital LP now owns 659,761 shares of the construction company’s stock valued at $108,564,000 after buying an additional 537,276 shares in the last quarter. LRI Investments LLC acquired a new position in shares of D.R. Horton in the 1st quarter valued at approximately $166,000. Finally, 1832 Asset Management L.P. raised its position in shares of D.R. Horton by 394.2% in the 1st quarter. 1832 Asset Management L.P. now owns 155,485 shares of the construction company’s stock valued at $25,585,000 after buying an additional 124,021 shares in the last quarter. Institutional investors own 90.63% of the company’s stock.

D.R. Horton Trading Up 2.5 %

NYSE DHI traded up $4.24 on Friday, hitting $176.94. The company’s stock had a trading volume of 3,353,877 shares, compared to its average volume of 3,178,242. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. D.R. Horton, Inc. has a 1-year low of $100.08 and a 1-year high of $180.15. The company’s 50-day moving average is $147.75 and its 200 day moving average is $149.16. The firm has a market cap of $57.65 billion, a PE ratio of 12.04, a PEG ratio of 0.79 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $9.97 billion during the quarter, compared to analysts’ expectations of $9.61 billion. During the same period in the prior year, the company posted $3.90 EPS. The company’s revenue was up 2.5% on a year-over-year basis. As a group, analysts predict that D.R. Horton, Inc. will post 14.45 earnings per share for the current fiscal year.

D.R. Horton announced that its board has approved a share buyback plan on Thursday, July 18th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

D.R. Horton Dividend Announcement

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

Insider Activity

In other 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 value of $301,400.00. Following the sale, the director now directly owns 1,703 shares of the company’s stock, valued at approximately $256,642.10. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. UBS Group boosted their target price on shares of D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, July 19th. BTIG Research dropped their target price on shares of D.R. Horton from $174.00 to $169.00 and set a “buy” rating for the company in a research report on Tuesday, April 16th. StockNews.com cut shares of D.R. Horton from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Jefferies Financial Group upped their price objective on shares of D.R. Horton from $141.00 to $153.00 and gave the stock a “hold” rating in a research report on Friday, April 19th. Finally, JPMorgan Chase & Co. upped their price objective on shares of D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $175.60.

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.