42,371 Shares in D.R. Horton, Inc. (NYSE:DHI) Acquired by Empire Life Investments Inc.

Key Points

• Empire Life Investments Inc. has acquired a stake in D.R. Horton, investing approximately $5.39 million for 42,371 shares in the construction company.
• D.R. Horton reported earnings of $3.36 EPS, surpassing analysts' expectations, with revenues totaling $9.23 billion for the recent quarter, although down 7.4% year-over-year.
• The company declared a quarterly dividend of $0.40 per share, set to be paid on August 14th, representing an annualized dividend yield of 1.1%.

Empire Life Investments Inc. purchased a new stake in shares of D.R. Horton, Inc. (NYSE:DHI - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 42,371 shares of the construction company's stock, valued at approximately $5,387,000.

Several other large investors have also bought and sold shares of DHI. Olde Wealth Management LLC acquired a new position in D.R. Horton during the first quarter valued at $26,000. Bayforest Capital Ltd raised its stake in shares of D.R. Horton by 340.4% in the 1st quarter. Bayforest Capital Ltd now owns 251 shares of the construction company's stock valued at $32,000 after acquiring an additional 194 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in D.R. Horton during the 4th quarter worth $43,000. Oarsman Capital Inc. grew its holdings in D.R. Horton by 146.7% in the 4th quarter. Oarsman Capital Inc. now owns 333 shares of the construction company's stock valued at $46,000 after buying an additional 198 shares during the last quarter. Finally, Alpine Bank Wealth Management bought a new stake in shares of D.R. Horton in the first quarter valued at approximately $61,000. Institutional investors own 90.63% of the company's stock.

Insider Buying and Selling

In other news, Director Michael R. Buchanan sold 2,150 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $127.70, for a total value of $274,555.00. Following the transaction, the director owned 2,193 shares in the company, valued at $280,046.10. This trade represents a 49.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.54% of the stock is owned by insiders.

D.R. Horton Price Performance

DHI stock traded down $0.74 during midday trading on Wednesday, reaching $154.09. The company had a trading volume of 3,354,536 shares, compared to its average volume of 5,136,141. The company has a market capitalization of $45.94 billion, a price-to-earnings ratio of 12.36, a price-to-earnings-growth ratio of 3.29 and a beta of 1.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 7.06 and a quick ratio of 1.19. D.R. Horton, Inc. has a 1-year low of $110.44 and a 1-year high of $199.85. The stock has a 50 day moving average price of $131.88 and a 200-day moving average price of $129.43.

D.R. Horton (NYSE:DHI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The construction company reported $3.36 earnings per share for the quarter, beating analysts' consensus estimates of $2.90 by $0.46. The company had revenue of $9.23 billion for the quarter, compared to the consensus estimate of $8.80 billion. D.R. Horton had a net margin of 11.46% and a return on equity of 15.74%. The firm's quarterly revenue was down 7.4% compared to the same quarter last year. During the same period last year, the company posted $4.10 EPS. Equities research analysts expect that D.R. Horton, Inc. will post 13.04 earnings per share for the current year.

D.R. Horton Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, August 7th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, August 7th. D.R. Horton's payout ratio is presently 12.83%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DHI. Keefe, Bruyette & Woods boosted their target price on shares of D.R. Horton from $135.00 to $161.00 and gave the company a "market perform" rating in a research note on Thursday, July 24th. Wells Fargo & Company raised their price target on D.R. Horton from $160.00 to $175.00 and gave the company an "overweight" rating in a report on Wednesday, July 23rd. JMP Securities decreased their target price on D.R. Horton from $210.00 to $180.00 and set a "market outperform" rating on the stock in a report on Monday, April 21st. The Goldman Sachs Group lowered their target price on D.R. Horton from $173.00 to $150.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, Royal Bank Of Canada raised their price target on shares of D.R. Horton from $105.00 to $117.00 and gave the company an "underperform" rating in a report on Wednesday, July 23rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $153.23.

D.R. Horton 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.