D.R. Horton, Inc. (NYSE:DHI) Announces Quarterly Dividend of $0.40

D.R. Horton, Inc. (NYSE:DHI) announced a quarterly dividend on Wednesday, July 23rd, Wall Street Journal reports. Shareholders of record on Thursday, August 7th will be given a dividend of 0.40 per share by the construction company on Thursday, August 14th. This represents a $1.60 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Thursday, August 7th.

D.R. Horton has a dividend payout ratio of 12.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect D.R. Horton to earn $14.44 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 11.1%.

D.R. Horton Stock Down 3.4%

DHI opened at $148.32 on Thursday. The business has a 50 day simple moving average of $127.17 and a 200-day simple moving average of $129.13. The stock has a market capitalization of $45.56 billion, a P/E ratio of 11.89, a P/E/G ratio of 3.38 and a beta of 1.38. D.R. Horton has a 12 month low of $110.44 and a 12 month high of $199.85. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.06 and a quick ratio of 1.15.

D.R. Horton (NYSE:DHI) last announced its quarterly earnings data on Tuesday, July 22nd. The construction company reported $3.36 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.46. D.R. Horton had a return on equity of 15.74% and a net margin of 11.46%. The business had revenue of $9.23 billion during the quarter, compared to the consensus estimate of $8.80 billion. During the same quarter in the previous year, the business earned $4.10 earnings per share. The business’s revenue for the quarter was down 7.4% on a year-over-year basis. On average, equities analysts anticipate that D.R. Horton will post 13.04 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DHI has been the subject of several recent research reports. UBS Group upped their target price on D.R. Horton from $176.00 to $187.00 and gave the company a “buy” rating in a report on Wednesday. BTIG Research cut their price objective on D.R. Horton from $171.00 to $150.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. Their comments are based on a broader research note on Homebuilders ahead of the industry’s start of the earnings season. The firm is projecting a 7% decline in U.S. new home sales and a 27% average decline in earnings due to lower consumer confidence as a result of heightened uncertainty about the future in terms of both income/job security and cost of living along with still-relatively high interest rates. Keefe, Bruyette & Woods reduced their target price on D.R. Horton from $165.00 to $135.00 and set a “market perform” rating for the company in a report on Tuesday, April 22nd. Wall Street Zen raised shares of D.R. Horton from a “sell” rating to a “hold” rating in a research note on Sunday. Finally, JMP Securities lowered their target price on shares of D.R. Horton from $210.00 to $180.00 and set a “market outperform” rating on the stock in a research report on Monday, April 21st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $151.23.

Insider Buying and Selling at D.R. Horton

In related news, Director Michael R. Buchanan sold 2,150 shares of the company’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $127.70, for a total value of $274,555.00. Following the sale, the director owned 2,193 shares in the company, valued at $280,046.10. This represents a 49.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On D.R. Horton

An institutional investor recently raised its position in D.R. Horton stock. Geneos Wealth Management Inc. grew its position in shares of D.R. Horton, Inc. (NYSE:DHI) by 295.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 609 shares of the construction company’s stock after buying an additional 455 shares during the quarter. Geneos Wealth Management Inc.’s holdings in D.R. Horton were worth $77,000 as of its most recent filing with the Securities & Exchange Commission. 90.63% of the stock is currently owned by institutional investors and hedge funds.

D.R. Horton Company Profile

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.