D.R. Horton (NYSE:DHI) Sets New 12-Month High at $193.63

D.R. Horton, Inc. (NYSE:DHI) hit a new 52-week high during mid-day trading on Friday . The stock traded as high as $193.63 and last traded at $192.74, with a volume of 100204 shares changing hands. The stock had previously closed at $188.81.

Analyst Ratings Changes

A number of analysts have recently issued reports on DHI shares. Evercore ISI increased their price objective on shares of D.R. Horton from $191.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, July 15th. StockNews.com cut shares of D.R. Horton from a “buy” rating to a “hold” rating in a research note on Thursday, May 23rd. Citigroup cut shares of D.R. Horton from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $181.00 to $156.00 in a research note on Tuesday, July 2nd. Wells Fargo & Company increased 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 note on Monday, August 26th. Finally, Bank of America increased their price objective on shares of D.R. Horton from $168.00 to $196.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Two analysts have rated the stock with a sell rating, five have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $182.07.

D.R. Horton Stock Up 3.2 %

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 company’s 50-day simple moving average is $175.54 and its 200 day simple moving average is $157.86. The firm has a market cap of $63.47 billion, a P/E ratio of 13.26, a price-to-earnings-growth ratio of 0.86 and a beta of 1.73.

D.R. Horton (NYSE:DHI) last released 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 net margin of 13.36% and a return on equity of 20.72%. The business had revenue of $9.97 billion during the quarter, compared to analyst estimates of $9.61 billion. During the same quarter last year, the business earned $3.90 earnings per share. D.R. Horton’s quarterly revenue was up 2.5% compared to the same quarter last year. Research analysts anticipate that D.R. Horton, Inc. will post 14.03 EPS for the current fiscal year.

D.R. Horton Dividend Announcement

The company 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. The ex-dividend date was Thursday, August 1st. This represents a $1.20 annualized dividend and a dividend yield of 0.62%. D.R. Horton’s dividend payout ratio (DPR) is presently 8.17%.

D.R. Horton announced that its board has initiated a stock buyback program on Thursday, July 18th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the construction company to buy up to 6.9% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Institutional Investors Weigh In On D.R. Horton

Several institutional investors have recently made changes to their positions in DHI. Avantax Advisory Services Inc. lifted its holdings in shares of D.R. Horton by 11.4% in the 4th quarter. Avantax Advisory Services Inc. now owns 3,476 shares of the construction company’s stock worth $528,000 after acquiring an additional 357 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in D.R. Horton by 24.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 32,754 shares of the construction company’s stock valued at $4,978,000 after buying an additional 6,429 shares in the last quarter. Foundations Investment Advisors LLC bought a new stake in D.R. Horton during the 4th quarter valued at about $657,000. Private Wealth Management Group LLC bought a new stake in D.R. Horton during the 4th quarter valued at about $42,000. Finally, Level Four Advisory Services LLC lifted its holdings in D.R. Horton by 20.0% during the 4th quarter. Level Four Advisory Services LLC now owns 2,455 shares of the construction company’s stock valued at $373,000 after buying an additional 409 shares in the last quarter. Institutional investors own 90.63% of the company’s stock.

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.