Kendall Capital Management bought a new position in shares of Taylor Morrison Home Corp (NYSE:TMHC) during the 4th quarter, HoldingsChannel reports. The firm bought 10,430 shares of the construction company’s stock, valued at approximately $255,000.
Other large investors also recently bought and sold shares of the company. Dean Capital Investments Management LLC purchased a new stake in shares of Taylor Morrison Home during the fourth quarter worth $218,000. Victory Capital Management Inc. lifted its position in shares of Taylor Morrison Home by 37.3% during the third quarter. Victory Capital Management Inc. now owns 10,197 shares of the construction company’s stock worth $225,000 after acquiring an additional 2,768 shares in the last quarter. Optimum Investment Advisors purchased a new stake in shares of Taylor Morrison Home during the third quarter worth $225,000. Amalgamated Bank purchased a new stake in shares of Taylor Morrison Home during the fourth quarter worth $270,000. Finally, Nordea Investment Management AB lifted its position in shares of Taylor Morrison Home by 66.3% during the third quarter. Nordea Investment Management AB now owns 13,300 shares of the construction company’s stock worth $293,000 after acquiring an additional 5,300 shares in the last quarter. Hedge funds and other institutional investors own 73.12% of the company’s stock.
In other Taylor Morrison Home news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $27.14, for a total transaction of $40,702,726.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joseph Terracciano sold 5,788 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $23.97, for a total value of $138,738.36. Following the sale, the insider now owns 4,168 shares in the company, valued at approximately $99,906.96. The disclosure for this sale can be found here. Company insiders own 2.40% of the company’s stock.
Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings data on Wednesday, February 7th. The construction company reported $0.77 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.07. Taylor Morrison Home had a return on equity of 5.76% and a net margin of 2.36%. The company had revenue of $1.30 billion for the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter last year, the business posted $0.63 earnings per share. The firm’s revenue was up 8.6% compared to the same quarter last year. analysts expect that Taylor Morrison Home Corp will post 2.61 EPS for the current fiscal year.
Taylor Morrison Home announced that its board has authorized a share buyback plan on Wednesday, January 3rd that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
Several research firms have issued reports on TMHC. Zacks Investment Research downgraded Taylor Morrison Home from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. ValuEngine upgraded Taylor Morrison Home from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 7th. Deutsche Bank increased their target price on Taylor Morrison Home from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. B. Riley increased their target price on Taylor Morrison Home from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. Finally, Barclays set a $28.00 target price on Taylor Morrison Home and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. Five equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. Taylor Morrison Home presently has an average rating of “Buy” and an average target price of $28.33.
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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