State of Michigan Retirement System Purchases 600 Shares of Taylor Morrison Home Co. (NYSE:TMHC)

State of Michigan Retirement System grew its position in shares of Taylor Morrison Home Co. (NYSE:TMHCFree Report) by 2.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,395 shares of the construction company’s stock after buying an additional 600 shares during the period. State of Michigan Retirement System’s holdings in Taylor Morrison Home were worth $1,641,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SummerHaven Investment Management LLC boosted its stake in shares of Taylor Morrison Home by 1.5% in the fourth quarter. SummerHaven Investment Management LLC now owns 14,383 shares of the construction company’s stock valued at $767,000 after buying an additional 213 shares during the period. Meritage Portfolio Management increased its position in shares of Taylor Morrison Home by 2.1% in the fourth quarter. Meritage Portfolio Management now owns 10,885 shares of the construction company’s stock worth $581,000 after purchasing an additional 229 shares during the period. CWM LLC increased its position in shares of Taylor Morrison Home by 17.2% in the fourth quarter. CWM LLC now owns 1,804 shares of the construction company’s stock worth $96,000 after purchasing an additional 265 shares during the period. Resonant Capital Advisors LLC raised its stake in Taylor Morrison Home by 3.6% in the fourth quarter. Resonant Capital Advisors LLC now owns 8,135 shares of the construction company’s stock valued at $434,000 after purchasing an additional 285 shares in the last quarter. Finally, Tectonic Advisors LLC lifted its position in Taylor Morrison Home by 1.1% during the fourth quarter. Tectonic Advisors LLC now owns 27,533 shares of the construction company’s stock worth $1,469,000 after purchasing an additional 296 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Buying and Selling

In other Taylor Morrison Home news, CEO Sheryl Palmer sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $61.70, for a total value of $6,170,000.00. Following the completion of the transaction, the chief executive officer now directly owns 19,211 shares in the company, valued at approximately $1,185,318.70. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 3.50% of the stock is owned by corporate insiders.

Taylor Morrison Home Stock Down 0.7 %

Shares of TMHC opened at $53.54 on Friday. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 7.66 and a beta of 1.95. Taylor Morrison Home Co. has a 52 week low of $37.23 and a 52 week high of $62.64. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.91 and a current ratio of 6.16. The stock has a fifty day moving average of $56.84 and a 200-day moving average of $55.88.

Taylor Morrison Home (NYSE:TMHCGet Free Report) last posted its earnings results on Tuesday, April 30th. The construction company reported $1.75 EPS for the quarter, beating the consensus estimate of $1.57 by $0.18. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.66 billion. Taylor Morrison Home had a return on equity of 15.75% and a net margin of 10.30%. The business’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $1.74 earnings per share. As a group, sell-side analysts anticipate that Taylor Morrison Home Co. will post 7.62 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TMHC shares. Royal Bank of Canada boosted their target price on shares of Taylor Morrison Home from $61.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Wedbush reaffirmed an “outperform” rating and issued a $61.00 target price on shares of Taylor Morrison Home in a report on Thursday, May 30th. StockNews.com lowered Taylor Morrison Home from a “buy” rating to a “hold” rating in a research note on Thursday, June 27th. Finally, Zelman & Associates upgraded Taylor Morrison Home from an “underperform” rating to a “neutral” rating in a research report on Friday, April 12th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Taylor Morrison Home currently has an average rating of “Hold” and an average target price of $59.40.

Get Our Latest Analysis on TMHC

Taylor Morrison Home Company Profile

(Free Report)

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 develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.

See Also

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Institutional Ownership by Quarter for Taylor Morrison Home (NYSE:TMHC)

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