Taylor Morrison Home Co. (NYSE:TMHC) Shares Sold by Louisiana State Employees Retirement System

Posted by Defense World Staff on Jul 7th, 2023

Louisiana State Employees Retirement System cut its holdings in shares of Taylor Morrison Home Co. (NYSE:TMHC – Free Report) by 1.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,700 shares of the construction company’s stock after selling 300 shares during the period. Louisiana State Employees Retirement System’s holdings in Taylor Morrison Home were worth $1,098,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. TCI Wealth Advisors Inc. increased its holdings in Taylor Morrison Home by 87.7% during the 4th quarter. TCI Wealth Advisors Inc. now owns 933 shares of the construction company’s stock worth $28,000 after purchasing an additional 436 shares during the period. Lazard Asset Management LLC acquired a new stake in Taylor Morrison Home in the first quarter valued at approximately $44,000. Exchange Traded Concepts LLC lifted its stake in Taylor Morrison Home by 213.1% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,813 shares of the construction company’s stock worth $55,000 after acquiring an additional 1,234 shares during the last quarter. Quantbot Technologies LP acquired a new position in Taylor Morrison Home during the 1st quarter worth approximately $77,000. Finally, Covestor Ltd increased its position in shares of Taylor Morrison Home by 100.5% in the 1st quarter. Covestor Ltd now owns 3,072 shares of the construction company’s stock valued at $84,000 after purchasing an additional 1,540 shares during the last quarter. Institutional investors and hedge funds own 94.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on TMHC shares. StockNews.com initiated coverage on shares of Taylor Morrison Home in a research note on Thursday, May 18th. They set a “buy” rating for the company. Credit Suisse Group boosted their target price on Taylor Morrison Home from $41.00 to $47.00 in a research note on Thursday, April 27th. Royal Bank of Canada increased their price target on shares of Taylor Morrison Home from $33.00 to $42.00 in a research note on Thursday, April 27th. Barclays boosted their price objective on shares of Taylor Morrison Home from $45.00 to $52.00 in a research report on Wednesday, May 24th. Finally, Seaport Res Ptn reaffirmed a “neutral” rating on shares of Taylor Morrison Home in a research report on Wednesday, June 14th. Seven research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $43.31.

Taylor Morrison Home Trading Down 4.3 %

Shares of Taylor Morrison Home stock opened at $46.11 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.20 and a current ratio of 6.09. The company has a market capitalization of $5.03 billion, a P/E ratio of 4.89 and a beta of 1.73. Taylor Morrison Home Co. has a 1 year low of $22.64 and a 1 year high of $49.19. The company’s fifty day moving average is $45.13 and its two-hundred day moving average is $38.69.

Taylor Morrison Home (NYSE:TMHC – Free Report) last released its quarterly earnings results on Wednesday, April 26th. The construction company reported $1.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.45. The firm had revenue of $1.66 billion for the quarter, compared to analyst estimates of $1.57 billion. Taylor Morrison Home had a return on equity of 24.14% and a net margin of 13.04%. The business’s revenue was down 2.4% on a year-over-year basis. During the same quarter last year, the company posted $1.44 earnings per share. Analysts forecast that Taylor Morrison Home Co. will post 6.9 earnings per share for the current year.

Insider Activity

In related news, Director William H. Lyon sold 2,000 shares of the stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $49.03, for a total transaction of $98,060.00. Following the completion of the sale, the director now directly owns 108,570 shares of the company’s stock, valued at $5,323,187.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Taylor Morrison Home news, Director William H. Lyon sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 19th. The stock was sold at an average price of $39.52, for a total transaction of $158,080.00. Following the transaction, the director now owns 147,570 shares in the company, valued at approximately $5,831,966.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William H. Lyon sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $49.03, for a total value of $98,060.00. Following the completion of the sale, the director now directly owns 108,570 shares of the company’s stock, valued at $5,323,187.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 801,046 shares of company stock valued at $35,043,098. Company insiders own 5.50% of the company’s stock.

Taylor Morrison Home 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 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.