Axxcess Wealth Management LLC Makes New $274,000 Investment in D.R. Horton, Inc. (NYSE:DHI)

Axxcess Wealth Management LLC purchased a new position in D.R. Horton, Inc. (NYSE:DHI) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,667 shares of the construction company’s stock, valued at approximately $274,000.

Other hedge funds have also recently modified their holdings of the company. Voss Capital LLC purchased a new stake in D.R. Horton during the fourth quarter valued at approximately $7,599,000. Handelsbanken Fonder AB lifted its position in D.R. Horton by 20.5% during the fourth quarter. Handelsbanken Fonder AB now owns 97,275 shares of the construction company’s stock valued at $14,784,000 after acquiring an additional 16,573 shares during the last quarter. Concurrent Investment Advisors LLC acquired a new position in D.R. Horton during the 1st quarter valued at approximately $1,249,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of D.R. Horton by 12.5% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,241 shares of the construction company’s stock worth $10,371,000 after buying an additional 7,600 shares during the last quarter. Finally, Vinva Investment Management Ltd raised its holdings in shares of D.R. Horton by 59.3% in the fourth quarter. Vinva Investment Management Ltd now owns 81,125 shares of the construction company’s stock worth $12,537,000 after buying an additional 30,186 shares during the last quarter. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on DHI shares. Royal Bank of Canada raised their price target on shares of D.R. Horton from $141.00 to $154.00 and gave the stock an “underperform” rating in a report on Friday, July 19th. Bank of America raised their target price on shares of D.R. Horton from $168.00 to $196.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Wedbush reissued an “underperform” rating and set a $130.00 target price on shares of D.R. Horton in a report on Thursday, April 18th. BTIG Research reduced 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 report on Tuesday, April 16th. Finally, Jefferies Financial Group lifted their price objective on shares of D.R. Horton from $141.00 to $153.00 and gave the company a “hold” rating in a report on Friday, April 19th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $175.60.

Insider Buying and Selling

In related news, Director Michael R. Buchanan sold 2,000 shares of the business’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $150.70, for a total transaction of $301,400.00. Following the transaction, the director now directly owns 1,703 shares in the company, valued at $256,642.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.74% of the stock is currently owned by company insiders.

D.R. Horton Stock Up 2.5 %

Shares of NYSE DHI opened at $176.94 on Friday. The company’s 50-day simple moving average is $147.75 and its 200-day simple moving average is $149.19. D.R. Horton, Inc. has a 52-week low of $100.08 and a 52-week high of $180.15. The firm has a market cap of $57.65 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 0.79 and a beta of 1.71. 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 (NYSE:DHI) last announced its 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 business had revenue of $9.97 billion for the quarter, compared to analyst estimates of $9.61 billion. During the same quarter last year, the business earned $3.90 earnings per share. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. Equities analysts predict that D.R. Horton, Inc. will post 14.45 EPS for the current fiscal year.

D.R. Horton Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 8th. Stockholders of record on Thursday, August 1st will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.68%. D.R. Horton’s dividend payout ratio (DPR) is 8.17%.

D.R. Horton declared that its board has authorized a share repurchase 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 repurchase up to 6.9% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.