First Trust Advisors LP Invests $379,000 in Taylor Morrison (TMHC)

First Trust Advisors LP purchased a new position in Taylor Morrison (NYSE:TMHC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 15,492 shares of the construction company’s stock, valued at approximately $379,000.

Several other large investors also recently modified their holdings of the stock. Swiss National Bank increased its stake in shares of Taylor Morrison by 14.0% in the fourth quarter. Swiss National Bank now owns 138,500 shares of the construction company’s stock worth $3,389,000 after buying an additional 17,000 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of Taylor Morrison by 9.7% in the fourth quarter. California Public Employees Retirement System now owns 88,684 shares of the construction company’s stock worth $2,170,000 after buying an additional 7,841 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in shares of Taylor Morrison in the fourth quarter worth $691,000. Price Capital Management Inc. bought a new stake in shares of Taylor Morrison in the fourth quarter worth $1,730,000. Finally, Maltese Capital Management LLC bought a new stake in shares of Taylor Morrison in the fourth quarter worth $10,400,000. Institutional investors and hedge funds own 73.07% of the company’s stock.

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In other news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $27.14, for a total transaction of $40,702,726.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Terracciano sold 5,788 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $23.97, for a total transaction of $138,738.36. Following the transaction, the insider now directly owns 4,168 shares of the company’s stock, valued at approximately $99,906.96. The disclosure for this sale can be found here. 2.40% of the stock is owned by insiders.

A number of analysts recently issued reports on TMHC shares. Deutsche Bank lifted their price target on shares of Taylor Morrison from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Friday, February 23rd. Citigroup upgraded shares of Taylor Morrison from a “neutral” rating to a “buy” rating and set a $30.00 price target for the company in a research note on Tuesday, January 2nd. Barclays set a $28.00 price target on shares of Taylor Morrison and gave the stock an “equal weight” rating in a research note on Thursday, February 8th. Zacks Investment Research lowered shares of Taylor Morrison from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Finally, B. Riley boosted their target price on shares of Taylor Morrison from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Five investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $28.00.

TMHC stock opened at $23.28 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 7.73 and a quick ratio of 1.55. Taylor Morrison has a 1-year low of $19.68 and a 1-year high of $28.42. The firm has a market cap of $2,610.04, a price-to-earnings ratio of 11.76, a price-to-earnings-growth ratio of 0.74 and a beta of 1.49.

Taylor Morrison (NYSE:TMHC) last released its earnings results on Wednesday, February 7th. The construction company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. Taylor Morrison had a net margin of 2.36% and a return on equity of 5.76%. The firm had revenue of $1.30 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The firm’s revenue for the quarter was up 8.6% compared to the same quarter last year. equities research analysts predict that Taylor Morrison will post 2.61 earnings per share for the current fiscal year.

Taylor Morrison declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, January 3rd that permits the company to buyback $200.00 million in shares. This buyback authorization permits the construction company to buy shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s board believes its stock is undervalued.

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Taylor Morrison Profile

Taylor Morrison Home Corporation operates as a public homebuilder in the United States. The company designs, builds, and sells single-family detached and attached 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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Institutional Ownership by Quarter for Taylor Morrison (NYSE:TMHC)

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