Wellington Management Group LLP Takes Position in Taylor Morrison Home Corp (NYSE:TMHC)

Wellington Management Group LLP acquired a new stake in Taylor Morrison Home Corp (NYSE:TMHC) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 25,857 shares of the construction company’s stock, valued at approximately $284,000.

Several other hedge funds have also added to or reduced their stakes in TMHC. Pacitti Group Inc. acquired a new position in shares of Taylor Morrison Home in the 4th quarter valued at $28,000. US Bancorp DE lifted its stake in shares of Taylor Morrison Home by 78.1% in the 1st quarter. US Bancorp DE now owns 2,556 shares of the construction company’s stock valued at $28,000 after purchasing an additional 1,121 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Taylor Morrison Home by 2,045.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,240 shares of the construction company’s stock valued at $35,000 after purchasing an additional 3,089 shares during the period. Sandy Spring Bank lifted its stake in shares of Taylor Morrison Home by 300.0% in the 1st quarter. Sandy Spring Bank now owns 4,000 shares of the construction company’s stock valued at $44,000 after purchasing an additional 3,000 shares during the period. Finally, Dupont Capital Management Corp acquired a new position in shares of Taylor Morrison Home in the 1st quarter valued at $44,000. 98.50% of the stock is currently owned by institutional investors and hedge funds.

Taylor Morrison Home stock opened at $19.12 on Wednesday. Taylor Morrison Home Corp has a 52-week low of $6.39 and a 52-week high of $28.47. The firm has a market capitalization of $2.33 billion, a price-to-earnings ratio of 11.66 and a beta of 1.66. The company has a fifty day simple moving average of $18.49 and a 200-day simple moving average of $19.10. The company has a quick ratio of 0.96, a current ratio of 8.01 and a debt-to-equity ratio of 1.10.

Taylor Morrison Home (NYSE:TMHC) last released its earnings results on Wednesday, May 6th. The construction company reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.06. Taylor Morrison Home had a net margin of 3.32% and a return on equity of 12.35%. The business had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the firm earned $0.49 earnings per share. The company’s revenue for the quarter was up 45.5% compared to the same quarter last year. On average, research analysts anticipate that Taylor Morrison Home Corp will post 2.3 EPS for the current fiscal year.

Several research firms recently issued reports on TMHC. Barclays reiterated a “hold” rating and issued a $15.00 target price on shares of Taylor Morrison Home in a research note on Tuesday, March 31st. JPMorgan Chase & Co. upgraded shares of Taylor Morrison Home from a “neutral” rating to an “overweight” rating and set a $27.00 price objective for the company in a research report on Thursday, June 11th. Wells Fargo & Co upped their price objective on shares of Taylor Morrison Home from $14.00 to $16.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 12th. Zacks Investment Research cut shares of Taylor Morrison Home from a “strong-buy” rating to a “sell” rating in a research report on Wednesday, April 15th. Finally, B. Riley reduced their price objective on shares of Taylor Morrison Home from $23.00 to $19.00 and set a “buy” rating for the company in a research report on Thursday, May 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $17.67.

Taylor Morrison Home Company Profile

Taylor Morrison Home Corporation operates as a public homebuilder in the United States. The company designs, builds, and sells single-family and multi-family attached and detached 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.

Further Reading: Initial Coin Offerings entail a high degree of risk

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

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