Wells Fargo & Company MN grew its stake in Taylor Morrison Home Corp (NYSE:TMHC) by 48.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 799,239 shares of the construction company’s stock after buying an additional 262,302 shares during the period. Wells Fargo & Company MN owned approximately 0.67% of Taylor Morrison Home worth $19,557,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in TMHC. Dean Capital Investments Management LLC acquired a new stake in shares of Taylor Morrison Home in the fourth quarter worth about $218,000. Victory Capital Management Inc. lifted its position in shares of Taylor Morrison Home by 37.3% in the third quarter. Victory Capital Management Inc. now owns 10,197 shares of the construction company’s stock worth $225,000 after buying an additional 2,768 shares during the last quarter. Optimum Investment Advisors acquired a new position in shares of Taylor Morrison Home during the 3rd quarter worth about $225,000. Nordea Investment Management AB lifted its position in shares of Taylor Morrison Home by 66.3% during the 3rd quarter. Nordea Investment Management AB now owns 13,300 shares of the construction company’s stock worth $293,000 after purchasing an additional 5,300 shares during the last quarter. Finally, First Trust Advisors LP acquired a new position in shares of Taylor Morrison Home during the 4th quarter worth about $379,000. 73.12% of the stock is owned by institutional investors.
Several research firms recently weighed in on TMHC. Zacks Investment Research cut Taylor Morrison Home from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Deutsche Bank boosted their price objective on Taylor Morrison Home from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. Barclays set a $28.00 price objective on Taylor Morrison Home and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Susquehanna Bancshares upgraded Taylor Morrison Home from a “neutral” rating to a “positive” rating in a research note on Thursday, January 4th. Finally, B. Riley upped their price objective on Taylor Morrison Home from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $28.33.
TMHC stock traded up $0.56 during midday trading on Friday, reaching $24.11. The company had a trading volume of 2,753,265 shares, compared to its average volume of 1,164,796. The company has a market cap of $2,703.09, a price-to-earnings ratio of 16.40, a PEG ratio of 0.77 and a beta of 1.49. Taylor Morrison Home Corp has a 1-year low of $19.68 and a 1-year high of $28.42. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.55 and a current ratio of 7.73.
Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings results on Wednesday, February 7th. The construction company reported $0.77 EPS for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.07. The business had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. Taylor Morrison Home had a return on equity of 5.76% and a net margin of 2.36%. Taylor Morrison Home’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 EPS. research analysts anticipate that Taylor Morrison Home Corp will post 2.61 earnings per share for the current year.
Taylor Morrison Home declared that its Board of Directors has approved a share buyback plan on Wednesday, January 3rd 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. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.
In other Taylor Morrison Home news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $27.14, for a total value of $40,702,726.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Terracciano sold 5,788 shares of the stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $23.97, for a total value of $138,738.36. Following the completion of the transaction, the insider now owns 4,168 shares in the company, valued at $99,906.96. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.
Taylor Morrison Home Profile
Taylor Morrison Home Corporation is a homebuilder, which designs, builds and sells single-family detached and attached homes. The Company is also a land developer, with a portfolio of lifestyle and master-planned communities. Its segments include East, which includes Atlanta, Charlotte, North Florida, Raleigh, Southwest Florida and Tampa; Central, which includes Austin, Dallas, and Houston (each of the Dallas and Houston markets include both a Taylor Morrison division and a Darling Homes division); West, which includes Bay Area, Chicago, Denver, Phoenix, Sacramento and Southern California, and Mortgage Operations, which includes Taylor Morrison Home Funding, LLC (TMHF) and Inspired Title Services, LLC (Inspired Title).
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