IMS Capital Management Sells 418 Shares of D.R. Horton, Inc. (NYSE:DHI)

IMS Capital Management lessened its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 10.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,497 shares of the construction company’s stock after selling 418 shares during the period. IMS Capital Management’s holdings in D.R. Horton were worth $493,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. EP Wealth Advisors LLC boosted its position in D.R. Horton by 5.5% during the second quarter. EP Wealth Advisors LLC now owns 7,345 shares of the construction company’s stock valued at $1,035,000 after buying an additional 384 shares during the period. Core Alternative Capital grew its stake in shares of D.R. Horton by 0.4% in the second quarter. Core Alternative Capital now owns 39,144 shares of the construction company’s stock worth $5,517,000 after purchasing an additional 155 shares during the last quarter. Wellington Wealth Strategies LLC. purchased a new position in shares of D.R. Horton during the second quarter valued at approximately $288,000. William B. Walkup & Associates Inc. purchased a new stake in D.R. Horton in the second quarter worth about $2,396,000. Finally, NewEdge Advisors LLC grew its stake in D.R. Horton by 67.2% in the second quarter. NewEdge Advisors LLC now owns 10,682 shares of the construction company’s stock worth $1,505,000 after purchasing an additional 4,295 shares during the period. Hedge funds and other institutional investors own 90.63% of the company’s stock.

D.R. Horton Price Performance

Shares of NYSE DHI opened at $190.77 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.30 and a current ratio of 7.22. The firm has a fifty day moving average of $183.62 and a 200 day moving average of $161.01. The firm has a market cap of $62.82 billion, a PE ratio of 12.99, a PEG ratio of 0.89 and a beta of 1.73. D.R. Horton, Inc. has a one year low of $100.08 and a one year high of $199.85.

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

D.R. Horton Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st were issued a $0.30 dividend. 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 payout ratio is currently 8.17%.

D.R. Horton declared that its Board of Directors has initiated a share buyback plan on Thursday, July 18th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 6.9% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

DHI has been the subject of several analyst reports. Royal Bank of Canada raised their price target on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a report on Friday, July 19th. Barclays increased their price target on D.R. Horton from $168.00 to $200.00 and gave the company an “overweight” rating in a report on Friday, July 19th. JMP Securities raised their target price on D.R. Horton from $170.00 to $210.00 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Wells Fargo & Company raised their price objective on shares of D.R. Horton from $210.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday, August 26th. Finally, JPMorgan Chase & Co. boosted their price target on D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $183.33.

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.