Russell Investments Group Ltd. grew its stake in shares of Taylor Morrison Home Corp (NYSE:TMHC) by 1,121.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 69,689 shares of the construction company’s stock after acquiring an additional 63,982 shares during the period. Russell Investments Group Ltd. owned about 0.06% of Taylor Morrison Home worth $1,438,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. TD Asset Management Inc. grew its position in shares of Taylor Morrison Home by 6.2% during the 1st quarter. TD Asset Management Inc. now owns 12,125 shares of the construction company’s stock valued at $215,000 after acquiring an additional 706 shares during the period. Stanley Laman Group Ltd. grew its position in shares of Taylor Morrison Home by 2.5% during the 2nd quarter. Stanley Laman Group Ltd. now owns 49,874 shares of the construction company’s stock valued at $1,045,000 after acquiring an additional 1,205 shares during the period. Strs Ohio bought a new position in shares of Taylor Morrison Home during the 2nd quarter valued at approximately $50,000. First Quadrant L P CA grew its position in shares of Taylor Morrison Home by 8.2% during the 2nd quarter. First Quadrant L P CA now owns 39,557 shares of the construction company’s stock valued at $829,000 after acquiring an additional 2,992 shares during the period. Finally, Penserra Capital Management LLC bought a new position in shares of Taylor Morrison Home during the 1st quarter valued at approximately $59,000. 98.79% of the stock is owned by hedge funds and other institutional investors.
In other Taylor Morrison Home news, insider C. David Cone sold 21,205 shares of the stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $23.06, for a total value of $488,987.30. Following the sale, the insider now directly owns 80,230 shares in the company, valued at approximately $1,850,103.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Darrell Sherman sold 131,002 shares of the stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $25.00, for a total transaction of $3,275,050.00. Following the completion of the sale, the executive vice president now owns 97,725 shares in the company, valued at $2,443,125. The disclosure for this sale can be found here. Insiders have sold a total of 600,491 shares of company stock worth $14,361,881 over the last 90 days. 1.90% of the stock is currently owned by corporate insiders.
Taylor Morrison Home (NYSE:TMHC) last announced its quarterly earnings results on Wednesday, July 31st. The construction company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.13. The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Taylor Morrison Home had a net margin of 5.03% and a return on equity of 13.66%. Taylor Morrison Home’s revenue was up 29.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 EPS. As a group, sell-side analysts predict that Taylor Morrison Home Corp will post 2.76 earnings per share for the current fiscal year.
A number of research analysts have recently weighed in on the stock. Barclays increased their target price on shares of Taylor Morrison Home from $20.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Wells Fargo & Co upped their price target on shares of Taylor Morrison Home from $21.00 to $24.00 and gave the company a “market perform” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Taylor Morrison Home from a “hold” rating to a “strong-buy” rating and set a $26.00 price target on the stock in a research note on Saturday, August 3rd. ValuEngine upgraded shares of Taylor Morrison Home from a “sell” rating to a “hold” rating in a research note on Wednesday, September 4th. Finally, B. Riley upgraded shares of Taylor Morrison Home from a “neutral” rating to a “buy” rating and upped their price target for the company from $22.00 to $26.00 in a research note on Thursday, August 1st. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Taylor Morrison Home currently has an average rating of “Buy” and an average target price of $23.22.
Taylor Morrison Home 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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