Norges Bank acquired a new position in shares of Taylor Morrison Home Corporation (NYSE:TMHC – Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,443,755 shares of the construction company’s stock, valued at approximately $84,994,000.
Other institutional investors also recently modified their holdings of the company. Penn Capital Management Company LLC acquired a new position in shares of Taylor Morrison Home in the 3rd quarter worth approximately $13,201,000. JPMorgan Chase & Co. grew its stake in shares of Taylor Morrison Home by 39.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 777,353 shares of the construction company’s stock worth $51,313,000 after purchasing an additional 218,514 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in shares of Taylor Morrison Home in the 3rd quarter worth approximately $1,737,000. SG Americas Securities LLC grew its stake in shares of Taylor Morrison Home by 521.5% in the 4th quarter. SG Americas Securities LLC now owns 21,590 shares of the construction company’s stock worth $1,271,000 after purchasing an additional 18,116 shares during the last quarter. Finally, Assetmark Inc. grew its stake in shares of Taylor Morrison Home by 2.7% in the 4th quarter. Assetmark Inc. now owns 797,997 shares of the construction company’s stock worth $46,978,000 after purchasing an additional 21,150 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on TMHC shares. Royal Bank Of Canada downgraded shares of Taylor Morrison Home from an “outperform” rating to a “sector perform” rating and lifted their target price for the stock from $69.00 to $72.50 in a research report on Tuesday. Truist Financial dropped their target price on shares of Taylor Morrison Home from $80.00 to $72.50 and set a “buy” rating on the stock in a research report on Monday. Wolfe Research reissued an “outperform” rating and issued a $76.00 target price on shares of Taylor Morrison Home in a research report on Thursday, April 23rd. Seaport Research Partners reissued a “sell” rating and issued a $49.00 target price (down from $85.00) on shares of Taylor Morrison Home in a research report on Tuesday, April 7th. Finally, Citigroup downgraded shares of Taylor Morrison Home from an “outperform” rating to a “market perform” rating in a research report on Monday. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $76.86.
Taylor Morrison Home Price Performance
NYSE TMHC opened at $71.48 on Friday. The company has a quick ratio of 1.45, a current ratio of 7.66 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $6.68 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 1.65 and a beta of 1.47. The company has a 50 day moving average price of $60.39 and a two-hundred day moving average price of $61.54. Taylor Morrison Home Corporation has a 12-month low of $54.15 and a 12-month high of $72.50.
Taylor Morrison Home (NYSE:TMHC – Get Free Report) last issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.82 by $0.30. Taylor Morrison Home had a net margin of 8.77% and a return on equity of 11.48%. The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same period in the previous year, the company earned $2.07 earnings per share. Taylor Morrison Home’s revenue for the quarter was down 26.8% on a year-over-year basis. As a group, equities analysts predict that Taylor Morrison Home Corporation will post 5.36 earnings per share for the current fiscal year.
About Taylor Morrison Home
Taylor Morrison Home Corporation (NYSE:TMHC) is a leading national homebuilder and developer specializing in the design, construction and sale of single-family detached and attached homes. The company’s portfolio spans entry-level, first-time, move-up and active-adult segments, offering buyers a diverse array of architectural styles, floor plans and personalized design options. Through its vertically integrated model, Taylor Morrison manages land acquisition, community development, construction and sales to deliver quality homes and customer-focused experiences across its markets.
The company’s heritage traces back to Morrison Homes, founded in 1977, and Taylor Woodrow, established in 1921 in the United Kingdom.
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