Resonant Capital Advisors LLC Purchases New Shares in Taylor Morrison Home Co. (NYSE:TMHC)

Posted by Defense World Staff on Apr 2nd, 2023

Resonant Capital Advisors LLC purchased a new stake in shares of Taylor Morrison Home Co. (NYSE:TMHC – Get Rating) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,266 shares of the construction company’s stock, valued at approximately $221,000.

A number of other hedge funds also recently bought and sold shares of TMHC. Cambridge Investment Research Advisors Inc. purchased a new stake in Taylor Morrison Home during the first quarter valued at $466,000. HighTower Advisors LLC raised its stake in shares of Taylor Morrison Home by 7.9% in the first quarter. HighTower Advisors LLC now owns 9,902 shares of the construction company’s stock valued at $269,000 after acquiring an additional 729 shares during the period. Natixis Advisors L.P. purchased a new stake in shares of Taylor Morrison Home in the first quarter valued at $309,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Taylor Morrison Home by 10.5% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 45,038 shares of the construction company’s stock valued at $1,226,000 after acquiring an additional 4,294 shares during the period. Finally, Great West Life Assurance Co. Can raised its stake in shares of Taylor Morrison Home by 9.4% in the first quarter. Great West Life Assurance Co. Can now owns 68,917 shares of the construction company’s stock valued at $1,930,000 after acquiring an additional 5,933 shares during the period. Hedge funds and other institutional investors own 96.33% of the company’s stock.

Taylor Morrison Home Trading Up 3.0 %

NYSE TMHC opened at $38.26 on Friday. The company’s 50-day moving average price is $35.82 and its 200-day moving average price is $30.78. The company has a current ratio of 5.59, a quick ratio of 1.01 and a debt-to-equity ratio of 0.53. The stock has a market cap of $4.14 billion, a PE ratio of 4.20 and a beta of 1.69. Taylor Morrison Home Co. has a 12 month low of $20.05 and a 12 month high of $38.29.

Taylor Morrison Home (NYSE:TMHC – Get Rating) last posted its quarterly earnings results on Wednesday, February 15th. The construction company reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.91 by $0.02. The firm had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.32 billion. Taylor Morrison Home had a net margin of 12.80% and a return on equity of 24.86%. The business’s revenue for the quarter was down .5% on a year-over-year basis. During the same period in the prior year, the business posted $2.19 earnings per share. Equities research analysts forecast that Taylor Morrison Home Co. will post 6.46 earnings per share for the current year.

Insiders Place Their Bets

In other Taylor Morrison Home news, Director David C. Merritt sold 8,737 shares of the stock in a transaction dated Wednesday, January 4th. The shares were sold at an average price of $32.00, for a total transaction of $279,584.00. Following the transaction, the director now directly owns 2,402 shares in the company, valued at approximately $76,864. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Taylor Morrison Home news, CEO Sheryl Palmer sold 99,700 shares of the stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $34.14, for a total transaction of $3,403,758.00. Following the transaction, the chief executive officer now directly owns 296,052 shares in the company, valued at approximately $10,107,215.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director David C. Merritt sold 8,737 shares of the stock in a transaction dated Wednesday, January 4th. The stock was sold at an average price of $32.00, for a total transaction of $279,584.00. Following the transaction, the director now owns 2,402 shares in the company, valued at $76,864. The disclosure for this sale can be found here. Insiders have sold a total of 258,494 shares of company stock worth $9,163,990 in the last three months. Corporate insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on TMHC shares. Credit Suisse Group increased their target price on shares of Taylor Morrison Home from $33.00 to $41.00 and gave the company an “outperform” rating in a research note on Thursday, February 16th. StockNews.com started coverage on shares of Taylor Morrison Home in a research note on Thursday, March 16th. They issued a “buy” rating on the stock. Finally, Barclays increased their target price on shares of Taylor Morrison Home from $35.00 to $40.00 and gave the company an “equal weight” rating in a research note on Thursday, February 16th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, Taylor Morrison Home presently has an average rating of “Hold” and an average price target of $34.21.

Taylor Morrison Home Company Profile

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Taylor Morrison Home Corp. engages in the business of residential homebuilding and the development of lifestyle communities. It operates through the following segments: East, Central, West, and Financial Services. The East segment includes operations in Atlanta, Charlotte, Chicago, Orlando, Raleigh, Southwest Florida, and Tampa regions.