PNC Financial Services Group Inc. Increases Stake in Taylor Morrison Home Corporation (NYSE:TMHC)

PNC Financial Services Group Inc. lifted its holdings in shares of Taylor Morrison Home Corporation (NYSE:TMHC) by 5.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,920 shares of the construction company’s stock after acquiring an additional 262 shares during the period. PNC Financial Services Group Inc.’s holdings in Taylor Morrison Home were worth $295,000 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 the business. Nisa Investment Advisors LLC raised its position in shares of Taylor Morrison Home by 6.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,449 shares of the construction company’s stock worth $207,000 after acquiring an additional 197 shares in the last quarter. Avantax Advisory Services Inc. raised its position in shares of Taylor Morrison Home by 3.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,891 shares of the construction company’s stock worth $354,000 after acquiring an additional 201 shares in the last quarter. Xponance Inc. raised its position in shares of Taylor Morrison Home by 1.4% during the 1st quarter. Xponance Inc. now owns 15,631 shares of the construction company’s stock worth $938,000 after acquiring an additional 220 shares in the last quarter. SummerHaven Investment Management LLC raised its position in shares of Taylor Morrison Home by 1.6% during the 1st quarter. SummerHaven Investment Management LLC now owns 14,218 shares of the construction company’s stock worth $854,000 after acquiring an additional 223 shares in the last quarter. Finally, Fifth Third Bancorp raised its position in shares of Taylor Morrison Home by 27.8% during the 1st quarter. Fifth Third Bancorp now owns 1,034 shares of the construction company’s stock worth $62,000 after acquiring an additional 225 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TMHC. Seaport Res Ptn raised Taylor Morrison Home from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 23rd. Wall Street Zen lowered Taylor Morrison Home from a “buy” rating to a “hold” rating in a research report on Sunday, June 1st. Bank of America started coverage on Taylor Morrison Home in a research report on Monday, May 5th. They set a “buy” rating and a $70.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and set a $85.00 price target on shares of Taylor Morrison Home in a research report on Wednesday, April 23rd. Finally, Barclays set a $69.00 price target on Taylor Morrison Home and gave the stock an “overweight” rating in a research report on Thursday, April 24th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Taylor Morrison Home has a consensus rating of “Buy” and a consensus target price of $76.88.

Taylor Morrison Home Trading Up 0.1%

NYSE:TMHC opened at $68.06 on Friday. The firm has a market cap of $6.83 billion, a P/E ratio of 7.86 and a beta of 1.53. The company has a current ratio of 6.54, a quick ratio of 0.74 and a debt-to-equity ratio of 0.35. The stock’s 50 day simple moving average is $62.33 and its 200-day simple moving average is $60.45. Taylor Morrison Home Corporation has a 12-month low of $51.90 and a 12-month high of $75.49.

Taylor Morrison Home (NYSE:TMHC) last released its earnings results on Wednesday, July 23rd. The construction company reported $2.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.94 by $0.08. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.93 billion. Taylor Morrison Home had a return on equity of 16.22% and a net margin of 10.72%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.86 earnings per share. Equities analysts anticipate that Taylor Morrison Home Corporation will post 8.93 EPS for the current year.

Insider Activity

In other news, CFO Curtis Vanhyfte sold 9,754 shares of the business’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $65.22, for a total value of $636,155.88. Following the transaction, the chief financial officer owned 14,163 shares of the company’s stock, valued at approximately $923,710.86. The trade was a 40.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.40% of the company’s stock.

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