Barbara K Allen, a director at D.R. Horton Inc. (NYSE:DHI), the largest home construction company in the United States, has sold a total of 449 shares of company stock on March 14, 2024, for a total value of $67,076. The shares were sold at a price of $149.39 each.
The transaction was disclosed in a recent filing with the Securities and Exchange Commission. Allen's sale came shortly after the exercise of options on March 12, where she acquired the same number of shares at no cost, as each restricted stock unit she held converted into one share of common stock. This exercise was part of a previously granted award which began vesting in annual installments starting March 12, 2021.
Following the sale, Allen still holds 5,650 shares of D.R. Horton stock, indicating a continued investment in the company's future. The sale represents a partial divestment for the director, who maintains a significant position in the company.
Investors often look to insider transactions as a gauge of confidence in the company's prospects. In this case, the sale could be interpreted as a routine financial decision rather than a commentary on the company's future performance.
D.R. Horton Inc., headquartered in Arlington, Texas, continues to be a major player in the operative builders' industry, with a focus on constructing and selling homes across the United States. The company's stock performance and insider transactions are closely watched by investors seeking to understand market trends and individual company trajectories.
InvestingPro Insights
D.R. Horton Inc. (NYSE:DHI) has demonstrated a robust financial performance, with notable metrics that investors should consider. The company's market capitalization stands at a solid $49.89 billion, reflecting its significant presence in the home construction industry. Additionally, D.R. Horton boasts an attractive price-to-earnings (P/E) ratio of 10.43, as of the last twelve months ending Q1 2024, which may suggest that the stock is reasonably valued in comparison to its earnings.
Investors interested in dividend consistency will be pleased to note that D.R. Horton has raised its dividend for 10 consecutive years, according to InvestingPro Tips. This demonstrates the company's commitment to returning value to shareholders. Moreover, the company's dividend growth over the last twelve months was an impressive 20.0%, and it currently offers a dividend yield of 0.77%.
Recent stock performance data from InvestingPro shows a 6-month price total return of 35.31%, and an even more impressive 1-year price total return of 60.54%, indicating strong recent growth in the company's share value. With the next earnings date on April 25, 2024, investors will be watching closely, especially since 9 analysts have revised their earnings upwards for the upcoming period, another InvestingPro Tip that suggests positive sentiment among market watchers.
For more detailed analysis and additional InvestingPro Tips, investors can explore D.R. Horton's profile on InvestingPro. There are 12 more tips available, which could provide further insights into the company's performance and outlook. To access these tips and more, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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