Lord Abbett & CO. LLC Has $5.70 Million Holdings in D.R. Horton, Inc. (NYSE:DHI)

Lord Abbett & CO. LLC boosted its holdings in D.R. Horton, Inc. (NYSE:DHI) by 16.7% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 165,000 shares of the construction company’s stock after acquiring an additional 23,600 shares during the quarter. Lord Abbett & CO. LLC’s holdings in D.R. Horton were worth $5,704,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of DHI. Vanguard Group Inc. boosted its stake in D.R. Horton by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 35,093,759 shares of the construction company’s stock valued at $1,213,190,000 after purchasing an additional 253,036 shares in the last quarter. Sanders Capital LLC boosted its stake in shares of D.R. Horton by 2.6% during the 1st quarter. Sanders Capital LLC now owns 22,094,609 shares of the construction company’s stock worth $753,622,000 after acquiring an additional 562,557 shares in the last quarter. FMR LLC boosted its stake in shares of D.R. Horton by 3.9% during the 2nd quarter. FMR LLC now owns 11,773,898 shares of the construction company’s stock worth $407,023,000 after acquiring an additional 446,612 shares in the last quarter. Greenhaven Associates Inc. boosted its stake in shares of D.R. Horton by 7.0% during the 2nd quarter. Greenhaven Associates Inc. now owns 8,172,140 shares of the construction company’s stock worth $282,511,000 after acquiring an additional 532,534 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of D.R. Horton by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,417,794 shares of the construction company’s stock worth $187,272,000 after buying an additional 440,369 shares during the period. Hedge funds and other institutional investors own 81.12% of the company’s stock.

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Shares of D.R. Horton, Inc. (NYSE:DHI) traded up $1.09 during mid-day trading on Tuesday, hitting $47.09. 5,762,300 shares of the stock were exchanged, compared to its average volume of 4,043,545. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.02 and a current ratio of 6.93. The company has a market cap of $17,510.00, a PE ratio of 16.85, a price-to-earnings-growth ratio of 1.33 and a beta of 1.28. D.R. Horton, Inc. has a 12 month low of $27.15 and a 12 month high of $47.29.

D.R. Horton (NYSE:DHI) last released its quarterly earnings results on Thursday, November 9th. The construction company reported $0.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.04). The company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. D.R. Horton had a net margin of 7.37% and a return on equity of 14.13%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 earnings per share. research analysts anticipate that D.R. Horton, Inc. will post 3.15 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a dividend of $0.125 per share. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Thursday, November 30th. This is a positive change from D.R. Horton’s previous quarterly dividend of $0.10. D.R. Horton’s dividend payout ratio is presently 14.60%.

D.R. Horton declared that its Board of Directors has initiated a share repurchase plan on Wednesday, July 26th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the construction company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Several brokerages have recently commented on DHI. Buckingham Research raised their target price on D.R. Horton from $39.00 to $44.00 and gave the stock a “neutral” rating in a research report on Friday. Royal Bank Of Canada reiterated a “buy” rating and set a $42.00 price objective on shares of D.R. Horton in a report on Monday, September 25th. Wedbush restated an “outperform” rating on shares of D.R. Horton in a report on Saturday, September 16th. Mizuho restated a “hold” rating and set a $38.00 target price on shares of D.R. Horton in a report on Friday, October 27th. Finally, Deutsche Bank AG restated a “hold” rating and set a $36.00 target price (up from $34.00) on shares of D.R. Horton in a report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $43.61.

In other D.R. Horton news, Director Michael W. Hewatt sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $36.11, for a total value of $144,440.00. Following the sale, the director now owns 8,000 shares in the company, valued at $288,880. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael R. Buchanan sold 9,000 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $37.06, for a total transaction of $333,540.00. Following the transaction, the director now directly owns 24,880 shares of the company’s stock, valued at approximately $922,052.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 23,000 shares of company stock worth $852,580. Company insiders own 7.20% of the company’s stock.

About D.R. Horton

D.R. Horton, Inc is a homebuilding company. The Company constructed and sold homes in 27 states and 79 markets, as of September 30, 2015. The Company’s segments include its 39 homebuilding divisions, its financial services operations and its other business activities. In the homebuilding segment, the Company builds and sells single-family detached homes and attached homes, such as town homes, duplexes, triplexes and condominiums.

Institutional Ownership by Quarter for D.R. Horton (NYSE:DHI)

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