D.R. Horton, Inc. (NYSE:DHI) to Issue $0.30 Quarterly Dividend

D.R. Horton, Inc. (NYSE:DHI) declared a quarterly dividend on Thursday, April 18th, RTT News reports. Stockholders of record on Thursday, May 2nd will be given a dividend of 0.30 per share by the construction company on Thursday, May 9th. This represents a $1.20 annualized dividend and a dividend yield of 0.84%. The ex-dividend date is Wednesday, May 1st.

D.R. Horton has increased its dividend by an average of 13.1% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. D.R. Horton has a dividend payout ratio of 7.7% meaning its dividend is sufficiently covered by earnings. Equities analysts expect D.R. Horton to earn $15.62 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 7.7%.

D.R. Horton Trading Down 2.5 %

D.R. Horton stock opened at $142.19 on Friday. The firm has a 50 day simple moving average of $151.91 and a 200-day simple moving average of $138.67. The company has a debt-to-equity ratio of 0.24, a current ratio of 7.35 and a quick ratio of 1.20. The stock has a market capitalization of $47.18 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 0.72 and a beta of 1.64. D.R. Horton has a 12-month low of $100.08 and a 12-month high of $165.75.

D.R. Horton (NYSE:DHI) last posted its quarterly earnings data on Thursday, April 18th. The construction company reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.08 by $0.44. The business had revenue of $9.11 billion during the quarter, compared to analysts’ expectations of $8.15 billion. D.R. Horton had a net margin of 13.39% and a return on equity of 21.32%. The business’s revenue was up 14.2% on a year-over-year basis. During the same period last year, the firm posted $2.73 earnings per share. As a group, equities research analysts expect that D.R. Horton will post 14.23 EPS for the current fiscal year.

Insider Buying and Selling

In other D.R. Horton news, insider David V. Auld sold 25,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $156.33, for a total value of $3,908,250.00. Following the completion of the sale, the insider now owns 773,121 shares in the company, valued at approximately $120,862,005.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other D.R. Horton news, insider David V. Auld sold 25,000 shares of the stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $156.33, for a total value of $3,908,250.00. Following the completion of the sale, the insider now owns 773,121 shares in the company, valued at approximately $120,862,005.93. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Barbara K. Allen sold 449 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $149.39, for a total transaction of $67,076.11. Following the completion of the sale, the director now owns 5,650 shares of the company’s stock, valued at approximately $844,053.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,197 shares of company stock valued at $4,225,745. Company insiders own 1.74% of the company’s stock.

Institutional Investors Weigh In On D.R. Horton

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fairfield Bush & CO. bought a new position in shares of D.R. Horton during the 1st quarter valued at $28,000. Clear Street Markets LLC bought a new position in shares of D.R. Horton during the 4th quarter valued at $28,000. BOKF NA raised its holdings in shares of D.R. Horton by 873.1% during the 4th quarter. BOKF NA now owns 253 shares of the construction company’s stock valued at $38,000 after purchasing an additional 227 shares in the last quarter. Resurgent Financial Advisors LLC bought a new position in shares of D.R. Horton during the 4th quarter valued at $46,000. Finally, Worth Asset Management LLC bought a new position in shares of D.R. Horton during the 1st quarter valued at $50,000. Hedge funds and other institutional investors own 90.63% of the company’s stock.

Analyst Upgrades and Downgrades

DHI has been the subject of several recent analyst reports. Barclays decreased their price objective on shares of D.R. Horton from $186.00 to $176.00 and set an “overweight” rating for the company in a report on Friday. Raymond James raised their target price on shares of D.R. Horton from $140.00 to $160.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. BTIG Research reduced their target price on shares of D.R. Horton from $174.00 to $169.00 and set a “buy” rating for the company in a report on Tuesday. Keefe, Bruyette & Woods reduced their target price on shares of D.R. Horton from $175.00 to $172.00 and set an “outperform” rating for the company in a report on Wednesday, January 24th. Finally, UBS Group raised their target price on shares of D.R. Horton from $192.00 to $200.00 and gave the stock a “buy” rating in a report on Friday. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.06.

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.