Westpac Banking Corp Has $705,000 Position in D.R. Horton, Inc. (DHI)

Westpac Banking Corp lessened its stake in shares of D.R. Horton, Inc. (NYSE:DHI) by 81.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,407 shares of the construction company’s stock after selling 90,027 shares during the period. Westpac Banking Corp’s holdings in D.R. Horton were worth $705,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of DHI. Benjamin F. Edwards & Company Inc. increased its position in D.R. Horton by 6.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 3,742 shares of the construction company’s stock valued at $129,000 after buying an additional 241 shares in the last quarter. Seven Bridges Advisors LLC bought a new position in D.R. Horton during the 2nd quarter valued at approximately $150,000. Paradigm Asset Management Co. LLC increased its position in D.R. Horton by 4.5% during the 2nd quarter. Paradigm Asset Management Co. LLC now owns 4,600 shares of the construction company’s stock valued at $159,000 after buying an additional 200 shares in the last quarter. Creative Planning increased its position in D.R. Horton by 6.9% during the 2nd quarter. Creative Planning now owns 5,665 shares of the construction company’s stock valued at $196,000 after buying an additional 364 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in D.R. Horton during the 2nd quarter valued at approximately $202,000. 82.31% of the stock is owned by institutional investors.

In other news, Director Barbara K. Allen sold 1,666 shares of the company’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $36.03, for a total transaction of $60,025.98. Following the transaction, the director now directly owns 7,316 shares of the company’s stock, valued at $263,595.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Michael W. Hewatt sold 4,000 shares of the company’s stock in a transaction on Friday, September 8th. The stock was sold at an average price of $36.11, for a total value of $144,440.00. Following the transaction, the director now directly owns 8,000 shares in the company, valued at $288,880. The disclosure for this sale can be found here. Corporate insiders own 7.20% of the company’s stock.

D.R. Horton, Inc. (NYSE DHI) opened at 37.74 on Wednesday. D.R. Horton, Inc. has a 1-year low of $26.69 and a 1-year high of $37.78. The stock has a 50 day moving average price of $36.09 and a 200-day moving average price of $34.28. The stock has a market capitalization of $14.13 billion, a P/E ratio of 14.14 and a beta of 1.24.

D.R. Horton (NYSE:DHI) last issued its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.01. The business had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.71 billion. D.R. Horton had a return on equity of 14.19% and a net margin of 7.38%. The business’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.66 earnings per share. Equities research analysts expect that D.R. Horton, Inc. will post $2.78 EPS for the current year.

D.R. Horton declared that its board has initiated a stock repurchase plan on Wednesday, July 26th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 23rd. Stockholders of record on Wednesday, August 9th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Monday, August 7th. D.R. Horton’s payout ratio is presently 15.04%.

A number of research analysts recently weighed in on the company. BidaskClub lowered D.R. Horton from a “hold” rating to a “sell” rating in a research report on Wednesday, August 23rd. Deutsche Bank AG reaffirmed a “hold” rating and set a $36.00 price objective (up previously from $34.00) on shares of D.R. Horton in a research report on Thursday, July 27th. Wedbush raised their price objective on D.R. Horton from $36.00 to $42.00 and gave the company an “outperform” rating in a research report on Monday, July 17th. Royal Bank Of Canada raised their price objective on D.R. Horton from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, July 13th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $41.00 price objective (up previously from $39.00) on shares of D.R. Horton in a research report on Monday, July 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $36.59.

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D.R. Horton Profile

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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Institutional Ownership by Quarter for D.R. Horton (NYSE:DHI)

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