Donald Smith & CO. Inc. reduced its stake in shares of Taylor Morrison Home Corp (NYSE:TMHC) by 5.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,114,162 shares of the construction company’s stock after selling 479,536 shares during the period. Taylor Morrison Home accounts for about 5.5% of Donald Smith & CO. Inc.’s portfolio, making the stock its 7th largest holding. Donald Smith & CO. Inc. owned approximately 7.38% of Taylor Morrison Home worth $144,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Morgan Stanley lifted its position in Taylor Morrison Home by 24.8% in the 3rd quarter. Morgan Stanley now owns 696,576 shares of the construction company’s stock worth $12,566,000 after buying an additional 138,569 shares during the last quarter. Bank of Montreal Can increased its position in shares of Taylor Morrison Home by 301.4% in the 4th quarter. Bank of Montreal Can now owns 4,748 shares of the construction company’s stock worth $75,000 after purchasing an additional 3,565 shares during the last quarter. Strs Ohio bought a new stake in shares of Taylor Morrison Home in the 4th quarter worth about $28,000. Xact Kapitalforvaltning AB increased its position in shares of Taylor Morrison Home by 26.8% in the 4th quarter. Xact Kapitalforvaltning AB now owns 23,160 shares of the construction company’s stock worth $368,000 after purchasing an additional 4,900 shares during the last quarter. Finally, Rhumbline Advisers increased its position in shares of Taylor Morrison Home by 48.9% in the 4th quarter. Rhumbline Advisers now owns 168,160 shares of the construction company’s stock worth $2,674,000 after purchasing an additional 55,247 shares during the last quarter.
A number of brokerages recently weighed in on TMHC. Citigroup boosted their price objective on shares of Taylor Morrison Home from $22.00 to $25.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Zacks Investment Research upgraded shares of Taylor Morrison Home from a “hold” rating to a “buy” rating and set a $24.00 price target on the stock in a research note on Saturday, May 4th. Barclays upgraded shares of Taylor Morrison Home from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $19.00 to $20.00 in a research note on Monday, May 13th. ValuEngine upgraded shares of Taylor Morrison Home from a “sell” rating to a “hold” rating in a research note on Friday, May 3rd. Finally, Royal Bank of Canada set a $23.00 price target on shares of Taylor Morrison Home and gave the stock a “hold” rating in a research note on Thursday, May 2nd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Taylor Morrison Home currently has a consensus rating of “Buy” and a consensus target price of $22.77.
In other news, insider Joseph Terracciano sold 1,964 shares of Taylor Morrison Home stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $20.71, for a total value of $40,674.44. Following the sale, the insider now directly owns 2,015 shares in the company, valued at $41,730.65. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.90% of the stock is owned by company insiders.
Shares of NYSE TMHC traded down $0.19 during trading hours on Wednesday, hitting $19.49. 1,738,700 shares of the stock were exchanged, compared to its average volume of 1,244,079. The company has a quick ratio of 0.63, a current ratio of 7.85 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average is $20.43. The stock has a market cap of $2.12 billion, a price-to-earnings ratio of 7.45, a P/E/G ratio of 0.97 and a beta of 1.07. Taylor Morrison Home Corp has a one year low of $14.73 and a one year high of $22.02.
Taylor Morrison Home (NYSE:TMHC) last posted its quarterly earnings data on Wednesday, May 1st. The construction company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.36 by $0.10. Taylor Morrison Home had a net margin of 4.83% and a return on equity of 12.89%. The business had revenue of $925.10 million during the quarter, compared to the consensus estimate of $872.44 million. During the same period in the prior year, the firm earned $0.41 EPS. Taylor Morrison Home’s quarterly revenue was up 23.0% compared to the same quarter last year. On average, analysts anticipate that Taylor Morrison Home Corp will post 2.62 EPS for the current year.
Taylor Morrison Home Company Profile
Taylor Morrison Home Corporation operates as a public homebuilder in the United States. The company designs, builds, and sells single-family and multi-family attached and detached homes; and develops lifestyle and master-planned communities. It operates under the Taylor Morrison and Darling Homes brand names in Arizona, California, Colorado, Florida, Georgia, Illinois, North Carolina and Texas.
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