Perkins Coie Trust Co Purchases 190 Shares of D.R. Horton, Inc. (NYSE:DHI)

Perkins Coie Trust Co lifted its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 17,135 shares of the construction company’s stock after acquiring an additional 190 shares during the quarter. Perkins Coie Trust Co’s holdings in D.R. Horton were worth $3,269,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in DHI. Bfsg LLC grew its stake in shares of 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 acquiring an additional 74 shares during the period. Rise Advisors LLC bought a new position in shares of D.R. Horton during the 1st quarter worth $27,000. RiverPark Advisors LLC bought a new position in shares of D.R. Horton during the 1st quarter worth $29,000. Riverview Trust Co purchased a new stake in D.R. Horton during the 1st quarter worth about $30,000. Finally, Signature Resources Capital Management LLC purchased a new stake in D.R. Horton during the 2nd quarter worth about $31,000. Institutional investors own 90.63% of the company’s stock.

D.R. Horton Price Performance

Shares of D.R. Horton stock traded down $0.15 during trading on Wednesday, hitting $185.33. 94,894 shares of the stock traded hands, compared to its average volume of 2,451,439. The company has a quick ratio of 1.30, a current ratio of 7.22 and a debt-to-equity ratio of 0.23. The stock has a market cap of $61.03 billion, a price-to-earnings ratio of 12.63, a PEG ratio of 0.89 and a beta of 1.72. The firm’s fifty day moving average is $185.06 and its 200-day moving average is $162.33. D.R. Horton, Inc. has a 52 week low of $100.08 and a 52 week high of $199.85.

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

D.R. Horton declared that its board has initiated a stock repurchase program on Thursday, July 18th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 6.9% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

D.R. Horton Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 8th. Investors of record on Thursday, August 1st were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 annualized dividend and a yield of 0.65%. D.R. Horton’s payout ratio is 8.17%.

Wall Street Analysts Forecast Growth

DHI has been the topic of a number of recent research reports. UBS Group increased their price objective on D.R. Horton from $200.00 to $217.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Royal Bank of Canada increased their price objective on D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a report on Friday, July 19th. JPMorgan Chase & Co. increased their price objective on D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Evercore ISI increased their price objective on D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Finally, Keefe, Bruyette & Woods increased their price objective on D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $183.33.

D.R. Horton Company Profile

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.