Gruss Capital Management LP acquired a new stake in shares of D. R. Horton Inc (NYSE:DHI) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 885,100 shares of the construction company’s stock, valued at approximately $35,342,000. D. R. Horton makes up 3.1% of Gruss Capital Management LP’s investment portfolio, making the stock its 8th largest holding. Gruss Capital Management LP owned approximately 0.24% of D. R. Horton at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of D. R. Horton by 0.7% during the second 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. FMR LLC grew its position in shares of D. R. Horton by 3.9% during the second quarter. FMR LLC now owns 11,773,898 shares of the construction company’s stock valued at $407,023,000 after purchasing an additional 446,612 shares in the last quarter. Greenhaven Associates Inc. grew its position in shares of D. R. Horton by 0.5% during the third quarter. Greenhaven Associates Inc. now owns 8,214,782 shares of the construction company’s stock valued at $328,016,000 after purchasing an additional 42,642 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of D. R. Horton by 5.7% during the third quarter. Dimensional Fund Advisors LP now owns 5,724,081 shares of the construction company’s stock valued at $228,533,000 after purchasing an additional 306,287 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of D. R. Horton by 3.5% during the second quarter. JPMorgan Chase & Co. now owns 4,846,653 shares of the construction company’s stock valued at $167,550,000 after purchasing an additional 164,817 shares in the last quarter. Hedge funds and other institutional investors own 84.61% of the company’s stock.
Shares of D. R. Horton Inc (NYSE:DHI) traded down $0.53 during midday trading on Thursday, reaching $49.71. 4,999,000 shares of the company’s stock traded hands, compared to its average volume of 4,048,289. The company has a current ratio of 6.93, a quick ratio of 1.02 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $18,841.90, a P/E ratio of 18.40, a P/E/G ratio of 1.42 and a beta of 1.32. D. R. Horton Inc has a twelve month low of $27.21 and a twelve month high of $51.53.
D. R. Horton (NYSE:DHI) last announced its quarterly earnings data on Thursday, November 9th. The construction company reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.86 by ($0.04). The firm had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $4 billion. D. R. Horton had a return on equity of 14.13% and a net margin of 7.37%. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.75 EPS. research analysts predict that D. R. Horton Inc will post 3.22 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a $0.125 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.50 annualized dividend and a yield of 1.01%. This is an increase from D. R. Horton’s previous quarterly dividend of $0.10. D. R. Horton’s dividend payout ratio (DPR) is presently 18.32%.
DHI has been the subject of several recent research reports. BidaskClub lowered D. R. Horton from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Bank of America lifted their price target on D. R. Horton from $43.00 to $55.00 and gave the stock a “buy” rating in a research report on Friday, October 6th. UBS initiated coverage on D. R. Horton in a research report on Wednesday, October 25th. They issued a “buy” rating and a $50.00 price target for the company. KeyCorp lifted their price target on D. R. Horton from $41.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, October 20th. Finally, Barclays lifted their price target on D. R. Horton from $34.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Friday, November 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. D. R. Horton has an average rating of “Buy” and a consensus price target of $44.06.
In other D. R. Horton news, Director Michael W. Hewatt sold 2,000 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $47.86, for a total value of $95,720.00. Following the completion of the sale, the director now owns 6,000 shares of the company’s stock, valued at $287,160. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Michael W. Hewatt sold 4,000 shares of the firm’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $36.11, for a total transaction of $144,440.00. Following the completion of the sale, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $288,880. The disclosure for this sale can be found here. In the last three months, insiders sold 51,677 shares of company stock valued at $2,262,873. 7.20% of the stock is owned by insiders.
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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.
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