Morse Asset Management Inc Cuts Stake in D.R. Horton, Inc. (NYSE:DHI)

Morse Asset Management Inc lessened its holdings in D.R. Horton, Inc. (NYSE:DHI) by 35.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,928 shares of the construction company’s stock after selling 8,627 shares during the period. Morse Asset Management Inc’s holdings in D.R. Horton were worth $2,245,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bfsg LLC grew its stake in D.R. Horton by 70.5% during the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock worth $25,000 after purchasing an additional 74 shares in the last quarter. Rise Advisors LLC purchased a new stake in shares of D.R. Horton during the first quarter worth approximately $27,000. RiverPark Advisors LLC acquired a new stake in D.R. Horton in the first quarter valued at approximately $29,000. Riverview Trust Co purchased a new position in D.R. Horton in the first quarter worth approximately $30,000. Finally, Signature Resources Capital Management LLC purchased a new stake in shares of D.R. Horton in the 2nd quarter valued at approximately $31,000. Institutional investors and hedge funds own 90.63% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Bank of America raised their target price on D.R. Horton from $196.00 to $215.00 and gave the stock a “buy” rating in a research report on Thursday. Citigroup downgraded D.R. Horton from a “buy” rating to a “neutral” rating and lowered their price target for the company from $181.00 to $156.00 in a report on Tuesday, July 2nd. Wells Fargo & Company boosted their price objective on shares of D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a research report on Monday, August 26th. Finally, Evercore ISI increased their target price on shares of D.R. Horton from $191.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, July 15th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, D.R. Horton currently has an average rating of “Hold” and a consensus price target of $183.33.

D.R. Horton Price Performance

D.R. Horton stock opened at $191.89 on Monday. 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 business has a 50 day simple moving average of $180.71 and a 200-day simple moving average of $159.46. D.R. Horton, Inc. has a 12 month low of $100.08 and a 12 month high of $199.85. The stock has a market capitalization of $63.19 billion, a PE ratio of 13.06, a price-to-earnings-growth ratio of 0.86 and a beta of 1.73.

D.R. Horton (NYSE:DHI) last issued its earnings results on Thursday, July 18th. The construction company reported $4.10 earnings per share 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 business had revenue of $9.97 billion for the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter in the previous year, the firm earned $3.90 earnings per share. The business’s quarterly revenue was up 2.5% compared to the same quarter last year. Equities analysts predict that D.R. Horton, Inc. will post 14.03 earnings per share for the current year.

D.R. Horton Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend was Thursday, August 1st. D.R. Horton’s dividend payout ratio (DPR) is 8.17%.

D.R. Horton declared that its Board of Directors has authorized a share buyback program on Thursday, July 18th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the construction company to buy up to 6.9% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.

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.