Principal Financial Group Inc. Decreases Stake in Taylor Morrison Home Corporation $TMHC

Principal Financial Group Inc. reduced its stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC) by 2.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,218,934 shares of the construction company’s stock after selling 30,768 shares during the quarter. Principal Financial Group Inc.’s holdings in Taylor Morrison Home were worth $70,991,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in TMHC. Citizens Financial Group Inc. RI acquired a new stake in Taylor Morrison Home during the 1st quarter worth about $210,000. Fifth Third Bancorp increased its holdings in shares of Taylor Morrison Home by 2,914.8% in the first quarter. Fifth Third Bancorp now owns 25,053 shares of the construction company’s stock valued at $1,459,000 after purchasing an additional 24,222 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of Taylor Morrison Home by 14.5% in the first quarter. Sequoia Financial Advisors LLC now owns 19,313 shares of the construction company’s stock worth $1,125,000 after purchasing an additional 2,451 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Taylor Morrison Home by 3.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 20,077 shares of the construction company’s stock worth $1,169,000 after purchasing an additional 600 shares during the last quarter. Finally, Hodges Capital Management Inc. lifted its holdings in shares of Taylor Morrison Home by 9.2% during the first quarter. Hodges Capital Management Inc. now owns 212,208 shares of the construction company’s stock worth $12,359,000 after purchasing an additional 17,809 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TMHC. Zacks Research upgraded shares of Taylor Morrison Home from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 22nd. Wolfe Research cut shares of Taylor Morrison Home from an “outperform” rating to a “peer perform” rating in a research note on Wednesday, June 10th. Truist Financial dropped their price objective on shares of Taylor Morrison Home from $80.00 to $72.50 and set a “buy” rating on the stock in a report on Monday, June 1st. Raymond James Financial lowered shares of Taylor Morrison Home from an “outperform” rating to a “market perform” rating in a research note on Friday, June 26th. Finally, Barclays reissued an “equal weight” rating and set a $73.00 target price (up from $69.00) on shares of Taylor Morrison Home in a report on Tuesday. Two investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $77.43.

Taylor Morrison Home Stock Up 0.4%

Taylor Morrison Home stock opened at $72.14 on Friday. The business’s 50-day moving average price is $67.27 and its 200 day moving average price is $63.74. The company has a quick ratio of 1.45, a current ratio of 7.66 and a debt-to-equity ratio of 0.37. The firm has a market cap of $6.74 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 1.69 and a beta of 1.44. Taylor Morrison Home Corporation has a 52 week low of $54.15 and a 52 week high of $72.50.

Taylor Morrison Home (NYSE:TMHC) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.30. Taylor Morrison Home had a return on equity of 11.48% and a net margin of 8.77%.The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same period in the previous year, the company posted $2.07 earnings per share. Taylor Morrison Home’s revenue for the quarter was down 26.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Taylor Morrison Home Corporation will post 5.26 earnings per share for the current year.

Taylor Morrison Home Profile

Taylor Morrison Home Corporation (NYSE:TMHC) is a leading national homebuilder and developer specializing in the design, construction and sale of single-family detached and attached homes. The company’s portfolio spans entry-level, first-time, move-up and active-adult segments, offering buyers a diverse array of architectural styles, floor plans and personalized design options. Through its vertically integrated model, Taylor Morrison manages land acquisition, community development, construction and sales to deliver quality homes and customer-focused experiences across its markets.

The company’s heritage traces back to Morrison Homes, founded in 1977, and Taylor Woodrow, established in 1921 in the United Kingdom.