GAMMA Investing LLC Acquires 902 Shares of D.R. Horton, Inc. (NYSE:DHI)

GAMMA Investing LLC raised its holdings in D.R. Horton, Inc. (NYSE:DHI) by 35.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,418 shares of the construction company’s stock after buying an additional 902 shares during the period. GAMMA Investing LLC’s holdings in D.R. Horton were worth $482,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in DHI. Rise Advisors LLC acquired a new position in D.R. Horton during the 1st quarter valued at about $27,000. RiverPark Advisors LLC bought a new position in D.R. Horton during the 1st quarter valued at $29,000. Riverview Trust Co purchased a new position in D.R. Horton during the 1st quarter worth $30,000. Oakworth Capital Inc. bought a new stake in shares of D.R. Horton in the 4th quarter worth $38,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of D.R. Horton in the fourth quarter valued at about $42,000. 90.63% of the stock is currently owned by institutional investors and hedge funds.

D.R. Horton Stock Performance

Shares of D.R. Horton stock traded down $1.43 during trading hours on Friday, reaching $177.62. The company had a trading volume of 3,179,679 shares, compared to its average volume of 3,294,546. The firm has a market cap of $57.88 billion, a PE ratio of 12.09, a price-to-earnings-growth ratio of 0.83 and a beta of 1.71. D.R. Horton, Inc. has a one year low of $100.08 and a one year high of $185.43. 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 fifty day simple moving average of $151.03 and a 200 day simple moving average of $150.06.

D.R. Horton (NYSE:DHI) last issued its earnings results on Thursday, July 18th. The construction company reported $4.10 EPS for the quarter, topping 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 business had revenue of $9.97 billion during the quarter, compared to the consensus estimate of $9.61 billion. During the same quarter last year, the company earned $3.90 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year. On average, analysts anticipate that D.R. Horton, Inc. will post 14.04 earnings per share for the current fiscal year.

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

D.R. Horton Dividend Announcement

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

Insider Activity

In related news, Director Michael R. Buchanan sold 2,000 shares of D.R. Horton stock in a transaction on Monday, May 6th. The stock was sold at an average price of $150.70, for a total transaction of $301,400.00. Following the completion of the sale, the director now owns 1,703 shares of the company’s stock, valued at $256,642.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on DHI. JMP Securities upped their price objective on shares of 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. JPMorgan Chase & Co. increased their price target on D.R. Horton from $163.00 to $180.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Keefe, Bruyette & Woods boosted their price objective on D.R. Horton from $178.00 to $208.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 23rd. UBS Group raised their target price on D.R. Horton from $200.00 to $217.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, StockNews.com lowered shares of D.R. Horton from a “buy” rating to a “hold” rating in a research report on Thursday, May 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, D.R. Horton presently has an average 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.