State of New Jersey Common Pension Fund D grew its stake in Taylor Morrison Home Co. (NYSE:TMHC – Get Rating) by 8.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 91,234 shares of the construction company’s stock after purchasing an additional 7,394 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.08% of Taylor Morrison Home worth $2,483,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in TMHC. Janney Montgomery Scott LLC lifted its stake in Taylor Morrison Home by 3.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 14,918 shares of the construction company’s stock valued at $522,000 after buying an additional 448 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Taylor Morrison Home in the 4th quarter valued at approximately $2,027,000. Yousif Capital Management LLC bought a new position in Taylor Morrison Home during the 4th quarter worth approximately $2,367,000. Qube Research & Technologies Ltd acquired a new position in Taylor Morrison Home during the fourth quarter valued at approximately $406,000. Finally, Centaurus Financial Inc. bought a new stake in Taylor Morrison Home in the fourth quarter valued at approximately $1,100,000. 94.05% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
TMHC has been the topic of a number of recent analyst reports. BTIG Research reduced their price target on shares of Taylor Morrison Home from $40.00 to $35.00 in a research report on Thursday, April 28th. Royal Bank of Canada cut Taylor Morrison Home from an “outperform” rating to a “sector perform” rating and boosted their target price for the company from $28.00 to $29.00 in a research note on Thursday, July 28th. They noted that the move was a valuation call. Wells Fargo & Company raised their price target on Taylor Morrison Home from $25.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. Credit Suisse Group upgraded Taylor Morrison Home from a “neutral” rating to an “outperform” rating and set a $33.00 price objective for the company in a research report on Monday, July 11th. Finally, StockNews.com upgraded shares of Taylor Morrison Home from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $31.14.
Taylor Morrison Home Stock Down 0.2 %
Taylor Morrison Home (NYSE:TMHC – Get Rating) last released its earnings results on Wednesday, July 27th. The construction company reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.85 by $0.42. Taylor Morrison Home had a return on equity of 22.19% and a net margin of 11.27%. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the previous year, the business earned $0.95 earnings per share. Taylor Morrison Home’s quarterly revenue was up 16.0% on a year-over-year basis. Research analysts anticipate that Taylor Morrison Home Co. will post 9.37 earnings per share for the current fiscal year.
Taylor Morrison Home Company Profile
Taylor Morrison Home Corporation, together with its subsidiaries, operates as a public homebuilder in the United States. The company designs, builds, and sells single and multi-family detached and attached homes; and develops lifestyle and master-planned communities. It also develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name; and offers title insurance and closing settlement services, as well as financial services.
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