California State Teachers Retirement System boosted its stake in Taylor Morrison Home Corporation (NYSE:TMHC) by 5.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,283 shares of the construction company’s stock after acquiring an additional 5,872 shares during the period. California State Teachers Retirement System owned 0.10% of Taylor Morrison Home worth $2,520,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its holdings in Taylor Morrison Home by 13.0% in the third quarter. Bank of New York Mellon Corp now owns 356,953 shares of the construction company’s stock valued at $7,871,000 after acquiring an additional 40,989 shares in the last quarter. BlackRock Inc. boosted its holdings in Taylor Morrison Home by 51.5% in the second quarter. BlackRock Inc. now owns 6,585,230 shares of the construction company’s stock valued at $158,111,000 after acquiring an additional 2,239,679 shares in the last quarter. Capital Growth Management LP bought a new stake in Taylor Morrison Home in the second quarter valued at $1,801,000. TIAA CREF Investment Management LLC boosted its holdings in shares of Taylor Morrison Home by 162.3% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 447,569 shares of the construction company’s stock valued at $10,746,000 after buying an additional 276,939 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new stake in shares of Taylor Morrison Home during the 2nd quarter valued at $1,410,000. Institutional investors and hedge funds own 59.08% of the company’s stock.
Shares of Taylor Morrison Home Corporation (NYSE:TMHC) opened at $27.75 on Friday. Taylor Morrison Home Corporation has a fifty-two week low of $18.26 and a fifty-two week high of $28.42. The company has a market cap of $3,320.00, a price-to-earnings ratio of 44.76, a PEG ratio of 0.99 and a beta of 1.47. The company has a current ratio of 6.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.
Taylor Morrison Home (NYSE:TMHC) last posted its quarterly earnings results on Wednesday, November 1st. The construction company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.04. The firm had revenue of $908.00 million during the quarter, compared to analyst estimates of $914.19 million. Taylor Morrison Home had a return on equity of 4.18% and a net margin of 2.41%. Taylor Morrison Home’s quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.49 EPS. sell-side analysts forecast that Taylor Morrison Home Corporation will post 1.85 earnings per share for the current year.
Taylor Morrison Home declared that its board has initiated a stock repurchase program on Wednesday, January 3rd that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the construction company to buy shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s board of directors believes its shares are undervalued.
A number of analysts have recently commented on the stock. Wedbush restated a “neutral” rating and set a $27.00 target price on shares of Taylor Morrison Home in a report on Friday. Barclays set a $27.00 target price on shares of Taylor Morrison Home and gave the company a “hold” rating in a report on Monday, January 8th. Susquehanna Bancshares upgraded shares of Taylor Morrison Home from a “neutral” rating to a “positive” rating in a report on Thursday, January 4th. UBS Group upgraded shares of Taylor Morrison Home from a “neutral” rating to a “positive” rating in a report on Thursday, January 4th. Finally, Zacks Investment Research cut shares of Taylor Morrison Home from a “hold” rating to a “sell” rating in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $27.57.
In other news, insider C. David Cone sold 35,000 shares of Taylor Morrison Home stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $23.79, for a total value of $832,650.00. Following the completion of the transaction, the insider now owns 42,511 shares of the company’s stock, valued at approximately $1,011,336.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.40% of the stock is owned by insiders.
Taylor Morrison Home Company 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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