D.R. Horton, Inc. Plans Quarterly Dividend of $0.30 (NYSE:DHI)

D.R. Horton, Inc. (NYSE:DHI) announced a quarterly dividend on Thursday, April 18th, RTT News reports. Stockholders of record on Thursday, May 2nd will be paid 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 0.82%.

D.R. Horton has increased its dividend by an average of 13.1% per year over the last three years and has raised its dividend every year for the last 10 years. D.R. Horton has a payout ratio of 7.7% meaning its dividend is sufficiently covered by earnings. Analysts expect D.R. Horton to earn $15.65 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 Stock Up 0.1 %

D.R. Horton stock opened at $145.91 on Friday. The company has a market capitalization of $48.42 billion, a PE ratio of 10.50, a PEG 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. The firm’s fifty day moving average is $151.97 and its 200 day moving average is $138.42. The company has a quick ratio of 1.20, a current ratio of 6.56 and a debt-to-equity ratio of 0.22.

D.R. Horton (NYSE:DHI) last released its quarterly earnings data on Thursday, April 18th. The construction company reported $3.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.09 by $0.43. D.R. Horton had a net margin of 13.18% and a return on equity of 21.06%. The company had revenue of $9.11 billion for the quarter, compared to analysts’ expectations of $8.15 billion. During the same quarter in the prior year, the firm earned $2.73 EPS. The business’s revenue was up 14.2% on a year-over-year basis. As a group, sell-side analysts predict that D.R. Horton will post 14.24 EPS for the current fiscal year.

Insider Activity

In other news, insider David V. Auld sold 25,000 shares of the firm’s 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 transaction, the insider now directly owns 773,121 shares in the company, valued at $120,862,005.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other D.R. Horton news, Director Barbara K. Allen sold 1,748 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $143.26, for a total value of $250,418.48. Following the transaction, the director now directly owns 5,650 shares in the company, valued at approximately $809,419. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider David V. Auld sold 25,000 shares of D.R. Horton stock in a transaction dated 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 sale, the insider now owns 773,121 shares of the company’s stock, valued at approximately $120,862,005.93. The disclosure for this sale can be found here. Insiders sold 27,197 shares of company stock valued at $4,225,745 in the last three months. Company insiders own 1.74% of the company’s stock.

Institutional Investors Weigh In On D.R. Horton

Institutional investors and hedge funds have recently bought and sold shares of the stock. FIL Ltd raised its position in shares of D.R. Horton by 4,131.7% during the 4th quarter. FIL Ltd now owns 91,659 shares of the construction company’s stock valued at $13,930,000 after buying an additional 89,493 shares in the last quarter. SageView Advisory Group LLC bought a new position in D.R. Horton in the fourth quarter valued at $253,000. Childress Capital Advisors LLC purchased a new stake in D.R. Horton during the fourth quarter valued at about $250,000. Mercer Global Advisors Inc. ADV lifted its stake in D.R. Horton by 3.7% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 276,655 shares of the construction company’s stock worth $42,046,000 after purchasing an additional 9,891 shares during the last quarter. Finally, Morse Asset Management Inc boosted its holdings in shares of D.R. Horton by 12.3% in the 4th quarter. Morse Asset Management Inc now owns 14,610 shares of the construction company’s stock worth $2,220,000 after purchasing an additional 1,600 shares in the last quarter. 90.63% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Citigroup raised their price objective on D.R. Horton from $166.00 to $191.00 and gave the company a “buy” rating in a research note on Friday, April 5th. JMP Securities boosted their price target on shares of D.R. Horton from $140.00 to $170.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 24th. The Goldman Sachs Group upped their price objective on shares of D.R. Horton from $150.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. BTIG Research decreased 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 research report on Tuesday. Finally, Barclays raised their price target on shares of D.R. Horton from $166.00 to $186.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $154.00.

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.