Taylor Morrison Home Corporation (TMHC) Position Raised by Greenhaven Associates Inc.
Greenhaven Associates Inc. lifted its stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC) by 6.7% during the fourth quarter, HoldingsChannel reports. The firm owned 2,695,488 shares of the construction company’s stock after acquiring an additional 169,244 shares during the period. Taylor Morrison Home accounts for about 1.0% of Greenhaven Associates Inc.’s portfolio, making the stock its 16th biggest position. Greenhaven Associates Inc.’s holdings in Taylor Morrison Home were worth $65,959,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of TMHC. Vanguard Group Inc. raised its position in Taylor Morrison Home by 72.8% in the second quarter. Vanguard Group Inc. now owns 7,031,797 shares of the construction company’s stock worth $168,834,000 after acquiring an additional 2,962,990 shares in the last quarter. BlackRock Inc. raised its position 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 worth $158,111,000 after acquiring an additional 2,239,679 shares in the last quarter. FMR LLC raised its position in Taylor Morrison Home by 12.8% in the second quarter. FMR LLC now owns 6,566,150 shares of the construction company’s stock worth $157,654,000 after acquiring an additional 744,914 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Taylor Morrison Home by 31.1% in the third quarter. Dimensional Fund Advisors LP now owns 4,591,375 shares of the construction company’s stock worth $101,239,000 after acquiring an additional 1,089,798 shares in the last quarter. Finally, NWQ Investment Management Company LLC raised its position in Taylor Morrison Home by 2.4% in the third quarter. NWQ Investment Management Company LLC now owns 2,229,932 shares of the construction company’s stock worth $49,170,000 after acquiring an additional 52,934 shares in the last quarter. Institutional investors and hedge funds own 59.08% of the company’s stock.
Taylor Morrison Home Corporation (NYSE:TMHC) traded up $0.95 during midday trading on Thursday, reaching $28.41. The company’s stock had a trading volume of 2,294,132 shares, compared to its average volume of 2,679,466. The company has a current ratio of 6.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63. The firm has a market cap of $3,330.00, a P/E ratio of 45.82, a PEG ratio of 0.98 and a beta of 1.47. Taylor Morrison Home Corporation has a 12-month low of $18.26 and a 12-month high of $28.42.
Taylor Morrison Home (NYSE:TMHC) last posted its quarterly earnings data on Wednesday, November 1st. The construction company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.41 by $0.04. The firm had revenue of $908.00 million for the quarter, compared to the consensus estimate of $914.19 million. Taylor Morrison Home had a return on equity of 4.18% and a net margin of 2.41%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.49 EPS. research analysts forecast that Taylor Morrison Home Corporation will post 1.84 earnings per share for the current fiscal year.
Taylor Morrison Home declared that its board has authorized a stock buyback plan on Wednesday, January 3rd that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.
In other Taylor Morrison Home news, insider C. David Cone sold 35,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $23.79, for a total transaction of $832,650.00. Following the sale, the insider now owns 42,511 shares in the company, valued at approximately $1,011,336.69. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by insiders.
Several equities research analysts have commented on TMHC shares. BidaskClub upgraded shares of Taylor Morrison Home from a “hold” rating to a “buy” rating in a research report on Wednesday, October 4th. ValuEngine cut shares of Taylor Morrison Home from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Wells Fargo & Co upgraded shares of Taylor Morrison Home from a “market perform” rating to an “outperform” rating and set a $32.00 price target on the stock in a research report on Friday, January 5th. UBS Group upgraded shares of Taylor Morrison Home from a “neutral” rating to a “positive” rating in a research report on Thursday, January 4th. Finally, Citigroup upgraded shares of Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $30.00 price target on the stock in a research report on Tuesday, January 2nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $27.67.
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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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