New Mexico Educational Retirement Board bought a new position in shares of Taylor Morrison Home Corp (NYSE:TMHC) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 31,500 shares of the construction company’s stock, valued at approximately $347,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of TMHC. BlackRock Inc. increased its stake in Taylor Morrison Home by 92.0% during the 1st quarter. BlackRock Inc. now owns 17,492,399 shares of the construction company’s stock worth $192,415,000 after purchasing an additional 8,381,898 shares in the last quarter. State Street Corp grew its stake in shares of Taylor Morrison Home by 65.0% during the 1st quarter. State Street Corp now owns 5,118,297 shares of the construction company’s stock worth $56,301,000 after acquiring an additional 2,016,886 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Taylor Morrison Home by 368.5% during the 4th quarter. Renaissance Technologies LLC now owns 1,828,192 shares of the construction company’s stock worth $39,964,000 after acquiring an additional 1,438,000 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Taylor Morrison Home by 1,796.8% during the 1st quarter. Principal Financial Group Inc. now owns 1,441,875 shares of the construction company’s stock worth $15,860,000 after acquiring an additional 1,365,860 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Taylor Morrison Home during the 4th quarter worth approximately $29,804,000. 98.50% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on TMHC shares. Zacks Investment Research cut shares of Taylor Morrison Home from a “strong-buy” rating to a “sell” rating in a research note on Wednesday, April 15th. B. Riley decreased their price target on shares of Taylor Morrison Home from $23.00 to $19.00 and set a “buy” rating for the company in a research note on Thursday, May 7th. Wells Fargo & Co raised their price target on shares of Taylor Morrison Home from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. JPMorgan Chase & Co. raised Taylor Morrison Home from a “neutral” rating to an “overweight” rating and set a $27.00 price objective for the company in a report on Thursday, June 11th. Finally, Royal Bank of Canada reissued a “buy” rating and issued a $18.00 price objective on shares of Taylor Morrison Home in a report on Thursday, March 26th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $17.67.
Taylor Morrison Home (NYSE:TMHC) last announced its quarterly earnings results on Wednesday, May 6th. The construction company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.06. Taylor Morrison Home had a return on equity of 12.35% and a net margin of 3.32%. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter last year, the firm posted $0.49 EPS. The company’s quarterly revenue was up 45.5% on a year-over-year basis. As a group, sell-side analysts predict that Taylor Morrison Home Corp will post 2.3 EPS for the current fiscal year.
About Taylor Morrison Home
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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