Secure Asset Management LLC Takes Position in D.R. Horton, Inc. (NYSE:DHI)

Secure Asset Management LLC acquired a new position in D.R. Horton, Inc. (NYSE:DHI) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,713 shares of the construction company’s stock, valued at approximately $241,000.

A number of other hedge funds have also bought and sold shares of DHI. Eads & Heald Wealth Management grew its position in shares of D.R. Horton by 2.8% in the second quarter. Eads & Heald Wealth Management now owns 14,972 shares of the construction company’s stock valued at $2,110,000 after purchasing an additional 403 shares in the last quarter. Dupree Financial Group LLC purchased a new position in D.R. Horton during the 2nd quarter valued at about $2,322,000. Fifth Third Wealth Advisors LLC bought a new stake in shares of D.R. Horton during the second quarter valued at about $453,000. Pacific Wealth Strategies Group Inc. increased its position in shares of D.R. Horton by 2.9% during the second quarter. Pacific Wealth Strategies Group Inc. now owns 4,545 shares of the construction company’s stock valued at $641,000 after buying an additional 129 shares during the period. Finally, Argus Investors Counsel Inc. bought a new position in shares of D.R. Horton in the second quarter valued at approximately $456,000. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DHI. Citigroup lowered shares of D.R. Horton from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $181.00 to $156.00 in a report on Tuesday, July 2nd. Barclays increased their price objective on D.R. Horton from $168.00 to $200.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. JPMorgan Chase & Co. boosted their target price on D.R. Horton from $163.00 to $180.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 23rd. Evercore ISI raised their price target on D.R. Horton from $191.00 to $205.00 and gave the company an “outperform” rating in a report on Monday, July 15th. Finally, Royal Bank of Canada lifted their price target on D.R. Horton from $141.00 to $154.00 and gave the company an “underperform” rating in a research report on Friday, July 19th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $175.60.

D.R. Horton Trading Up 3.3 %

Shares of D.R. Horton stock traded up $6.05 during trading on Friday, reaching $191.79. The company’s stock had a trading volume of 3,346,550 shares, compared to its average volume of 2,556,429. 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, Inc. has a 52-week low of $100.08 and a 52-week high of $192.41. The firm’s 50-day moving average is $161.17 and its two-hundred day moving average is $153.29. The company has a market cap of $63.16 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 0.83 and a beta of 1.71.

D.R. Horton (NYSE:DHI) last posted its quarterly 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 during the quarter, compared to analyst estimates of $9.61 billion. During the same period in the prior year, the business posted $3.90 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis. On average, sell-side analysts anticipate that D.R. Horton, Inc. will post 14.04 earnings per share for the current year.

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

D.R. Horton Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 8th. Shareholders of record on Thursday, August 1st were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $1.20 annualized dividend and a yield of 0.63%. D.R. Horton’s payout ratio is currently 8.17%.

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.