Morse Asset Management Inc Raises Holdings in D.R. Horton, Inc. (NYSE:DHI)

Morse Asset Management Inc lifted its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 11.9% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,823 shares of the construction company’s stock after buying an additional 1,895 shares during the quarter. Morse Asset Management Inc’s holdings in D.R. Horton were worth $3,400,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Bfsg LLC increased its position in shares of D.R. Horton by 70.5% in the 2nd quarter. Bfsg LLC now owns 179 shares of the construction company’s stock valued at $25,000 after purchasing an additional 74 shares during the last quarter. Coastline Trust Co purchased a new position in D.R. Horton in the third quarter valued at approximately $26,000. Signature Resources Capital Management LLC acquired a new position in D.R. Horton in the second quarter valued at $31,000. Rakuten Securities Inc. boosted its position in shares of D.R. Horton by 216.7% in the 3rd quarter. Rakuten Securities Inc. now owns 171 shares of the construction company’s stock valued at $33,000 after purchasing an additional 117 shares during the period. Finally, Wolff Wiese Magana LLC increased its holdings in shares of D.R. Horton by 1,306.7% in the 3rd quarter. Wolff Wiese Magana LLC now owns 211 shares of the construction company’s stock valued at $40,000 after acquiring an additional 196 shares during the period. 90.63% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on DHI shares. Wedbush raised shares of D.R. Horton from an “underperform” rating to a “neutral” rating and set a $165.00 target price for the company in a report on Tuesday, October 15th. Royal Bank of Canada lowered their target price on D.R. Horton from $154.00 to $145.00 and set an “underperform” rating on the stock in a research note on Wednesday, October 30th. Raymond James cut D.R. Horton from an “outperform” rating to a “market perform” rating in a research note on Thursday, November 7th. Barclays lowered their price objective on shares of D.R. Horton from $200.00 to $192.00 and set an “overweight” rating on the stock in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of D.R. Horton from $180.00 to $188.00 and gave the stock a “neutral” rating in a research note on Monday, November 4th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $185.87.

Insider Buying and Selling at D.R. Horton

In other news, Director Barbara K. Allen sold 5,650 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $163.10, for a total value of $921,515.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.74% of the stock is owned by corporate insiders.

D.R. Horton Price Performance

DHI opened at $166.87 on Wednesday. The stock has a market capitalization of $53.59 billion, a PE ratio of 11.62, a P/E/G ratio of 0.61 and a beta of 1.71. The company’s 50 day simple moving average is $176.26 and its 200 day simple moving average is $168.50. D.R. Horton, Inc. has a 1 year low of $129.35 and a 1 year high of $199.85. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.61 and a current ratio of 7.32.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Tuesday, October 29th. The construction company reported $3.92 earnings per share for the quarter, missing the consensus estimate of $4.17 by ($0.25). D.R. Horton had a net margin of 12.93% and a return on equity of 19.24%. The firm had revenue of $10 billion during the quarter, compared to analyst estimates of $10.22 billion. During the same period in the prior year, the firm earned $4.45 earnings per share. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. As a group, sell-side analysts expect that D.R. Horton, Inc. will post 14.26 EPS for the current year.

D.R. Horton Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 19th. Stockholders of record on Tuesday, November 12th were paid a $0.40 dividend. The ex-dividend date of this dividend was Tuesday, November 12th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.96%. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.30. D.R. Horton’s dividend payout ratio (DPR) is 11.14%.

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.