Principal Financial Group Inc. Trims Position in Taylor Morrison Home Corporation $TMHC

Principal Financial Group Inc. lowered its position in shares of Taylor Morrison Home Corporation (NYSE:TMHC) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,249,702 shares of the construction company’s stock after selling 10,819 shares during the quarter. Principal Financial Group Inc.’s holdings in Taylor Morrison Home were worth $73,570,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Horizon Investments LLC grew its position in shares of Taylor Morrison Home by 6.2% in the fourth quarter. Horizon Investments LLC now owns 60,668 shares of the construction company’s stock valued at $3,572,000 after purchasing an additional 3,544 shares during the period. State of New Jersey Common Pension Fund D raised its stake in shares of Taylor Morrison Home by 14.4% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 36,977 shares of the construction company’s stock valued at $2,177,000 after acquiring an additional 4,661 shares during the period. KTF Investments LLC acquired a new position in shares of Taylor Morrison Home during the 4th quarter valued at $5,504,000. Torren Management LLC acquired a new position in shares of Taylor Morrison Home during the 4th quarter valued at $121,000. Finally, M&T Bank Corp boosted its position in Taylor Morrison Home by 8.5% during the 4th quarter. M&T Bank Corp now owns 4,051 shares of the construction company’s stock worth $239,000 after purchasing an additional 318 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Taylor Morrison Home Stock Down 1.5%

Shares of NYSE TMHC opened at $59.45 on Friday. The firm has a market cap of $5.55 billion, a price-to-earnings ratio of 8.87, a PEG ratio of 1.47 and a beta of 1.51. Taylor Morrison Home Corporation has a 1 year low of $54.58 and a 1 year high of $72.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.45 and a current ratio of 7.66. The stock’s 50-day simple moving average is $60.42 and its 200-day simple moving average is $61.39.

Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings data on Wednesday, April 22nd. The construction company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.30. Taylor Morrison Home had a return on equity of 11.48% and a net margin of 8.77%.The firm had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the firm earned $2.07 EPS. Taylor Morrison Home’s quarterly revenue was down 26.8% on a year-over-year basis. As a group, equities analysts anticipate that Taylor Morrison Home Corporation will post 5.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Bank of America cut their price objective on Taylor Morrison Home from $72.00 to $68.00 and set a “neutral” rating on the stock in a research report on Monday, April 20th. Zacks Research upgraded Taylor Morrison Home from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 22nd. Truist Financial reduced their price target on Taylor Morrison Home from $85.00 to $80.00 and set a “buy” rating on the stock in a research report on Thursday, April 16th. Barclays upped their price target on Taylor Morrison Home from $68.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, April 23rd. Finally, Weiss Ratings lowered shares of Taylor Morrison Home from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, April 24th. Seven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Taylor Morrison Home currently has a consensus rating of “Moderate Buy” and an average price target of $77.43.

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.