Vanguard Group Inc. raised its position in Taylor Morrison Home Corp (NASDAQ:TMHC) by 72.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,031,797 shares of the construction company’s stock after buying an additional 2,962,990 shares during the quarter. Vanguard Group Inc. owned about 11.92% of Taylor Morrison Home Corp worth $168,834,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. increased its holdings in Taylor Morrison Home Corp by 34.2% in the 1st quarter. Victory Capital Management Inc. now owns 6,315 shares of the construction company’s stock valued at $135,000 after buying an additional 1,608 shares during the period. UBS Group AG increased its holdings in Taylor Morrison Home Corp by 4.7% in the 1st quarter. UBS Group AG now owns 6,909 shares of the construction company’s stock valued at $147,000 after buying an additional 307 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Taylor Morrison Home Corp by 20.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,409 shares of the construction company’s stock valued at $154,000 after buying an additional 1,110 shares during the period. Great West Life Assurance Co. Can increased its holdings in Taylor Morrison Home Corp by 52.9% in the 2nd quarter. Great West Life Assurance Co. Can now owns 6,882 shares of the construction company’s stock valued at $165,000 after buying an additional 2,382 shares during the period. Finally, BNP Paribas Arbitrage SA increased its holdings in Taylor Morrison Home Corp by 717.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,470 shares of the construction company’s stock valued at $179,000 after buying an additional 6,556 shares during the period.
Several equities analysts have commented on the stock. Zacks Investment Research raised shares of Taylor Morrison Home Corp from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a report on Tuesday, July 4th. BidaskClub downgraded shares of Taylor Morrison Home Corp from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Deutsche Bank AG raised their price target on shares of Taylor Morrison Home Corp from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Monday, August 7th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $24.00.
In other Taylor Morrison Home Corp news, insider C. David Cone sold 20,000 shares of the stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $22.83, for a total transaction of $456,600.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of Taylor Morrison Home Corp (TMHC) opened at 23.09 on Friday. Taylor Morrison Home Corp has a 1-year low of $16.37 and a 1-year high of $24.79. The stock has a 50 day moving average of $21.81 and a 200-day moving average of $22.63. The firm has a market capitalization of $1.67 billion and a P/E ratio of 13.90.
Taylor Morrison Home Corp (NASDAQ:TMHC) last posted its quarterly earnings data on Wednesday, August 2nd. The construction company reported $0.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.08. The company had revenue of $908.49 million for the quarter, compared to analysts’ expectations of $849.70 million. Taylor Morrison Home Corp had a net margin of 6.16% and a return on equity of 9.57%. Taylor Morrison Home Corp’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.37 earnings per share. On average, equities analysts expect that Taylor Morrison Home Corp will post $1.90 earnings per share for the current year.
Taylor Morrison Home Corp declared that its Board of Directors has approved a share repurchase plan on Monday, September 18th that allows the company to buyback $43.60 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 2.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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Taylor Morrison Home Corp 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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