PNC Financial Services Group Inc. reduced its holdings in Taylor Morrison Home Co. (NYSE:TMHC – Free Report) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,156 shares of the home improvement company after selling 410 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Taylor Morrison Home were worth $222,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB increased its position in shares of Taylor Morrison Home by 30.4% in the fourth quarter. Nordea Investment Management AB now owns 108,431 shares of the construction company’s stock worth $5,823,000 after acquiring an additional 25,250 shares during the period. TCW Group Inc. increased its position in shares of Taylor Morrison Home by 118.2% in the fourth quarter. TCW Group Inc. now owns 57,315 shares of the construction company’s stock worth $3,058,000 after acquiring an additional 31,045 shares in the last quarter. Journey Strategic Wealth LLC acquired a new position in shares of Taylor Morrison Home in the fourth quarter valued at $235,000. Teachers Retirement System of The State of Kentucky increased its position in shares of Taylor Morrison Home by 89.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 38,103 shares of the construction company’s stock worth $1,623,000 after purchasing an additional 17,986 shares in the last quarter. Finally, Natixis Advisors LP increased its position in Taylor Morrison Home by 8.2% in the fourth quarter. Natixis Advisors LP now owns 16,687 shares of the construction company’s stock worth $890,000 after purchasing an additional 1,268 shares in the last quarter. 95.16% of the shares are owned by institutional investors.
Taylor Morrison property trading down 0.7%
TMHC shares opened at $53.89 on Wednesday. The company has a debt-to-equity ratio of 0.39, a cash-to-equity ratio of 2nd degree of 0.91, and a cash-to-equity ratio of 3rd degree of 6.16. Taylor Morrison Home Co. has a 52-week low of $37.23 and a 52-week high of $62.64. The company has a 50-day moving average price of $57.02 and a 200-day moving average price of $55.90. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 7.71, and a beta of 1.95.
Taylor Morrison Home (NYSE:TMHC – Get Free Report) last released its quarterly earnings results on Tuesday, April 30. The home improvement company reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.18. The company had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.66 billion. Taylor Morrison Home had a net margin of 10.30% and a return on equity of 15.75%. The company’s revenue grew by 2.3% year-over-year. During the same period last year, the company posted earnings per share of $1.74. As a group, equities analysts forecast that Taylor Morrison Home Co. will post earnings per share of $7.62 for the current year.
Wall Street analysts predict growth
Several analysts have commented on TMHC shares. StockNews.com downgraded Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Thursday, June 27. Zelman & Associates upgraded shares of Taylor Morrison Home from an “underperform” rating to a “neutral” rating in a research report on Friday, April 12. Wedbush reiterated an “outperform” rating and a $61.00 price target on shares of Taylor Morrison Home in a report on Thursday, May 30. Finally, Royal Bank of Canada raised their price target on shares of Taylor Morrison Home from $61.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1. Four equities research analysts have rated the stock with a “hold” rating and three have given a “buy” rating. According to data from MarketBeat, Taylor Morrison Home has an average rating of “Hold” and a consensus price target of $59.40.
Check out our latest stock analysis on TMHC
Insider Activities at Taylor Morrison Home
In other Taylor Morrison Home news, CEO Sheryl Palmer sold 100,000 shares of Taylor Morrison Home stock on Wednesday, May 15. The shares were sold at an average price of $61.70, for a total value of $6,170,000.00. Following the transaction, the CEO now directly owns 19,211 shares of the company’s stock, valued at approximately $1,185,318.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC’s website. 3.50% of the shares are currently owned by company insiders.
Taylor Morrison Home Profile
(Free report)
Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public housing developer in the United States. The company designs, builds and sells single-family, multi-family and townhomes and develops lifestyle and master-planned communities. It develops and builds multi-use properties consisting of commercial space, retail stores and multifamily housing under the Urban Form brand name.
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