Norges Bank Invests $84.99 Million in Taylor Morrison Home Corporation $TMHC

Norges Bank bought a new position in shares of Taylor Morrison Home Corporation (NYSE:TMHC) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,443,755 shares of the construction company’s stock, valued at approximately $84,994,000. Norges Bank owned about 1.48% of Taylor Morrison Home at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Allworth Financial LP boosted its holdings in Taylor Morrison Home by 14.9% during the third quarter. Allworth Financial LP now owns 1,546 shares of the construction company’s stock valued at $102,000 after acquiring an additional 200 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Taylor Morrison Home by 4.5% during the third quarter. PNC Financial Services Group Inc. now owns 4,691 shares of the construction company’s stock valued at $310,000 after acquiring an additional 204 shares during the period. Tectonic Advisors LLC boosted its holdings in Taylor Morrison Home by 0.7% during the fourth quarter. Tectonic Advisors LLC now owns 29,765 shares of the construction company’s stock valued at $1,752,000 after acquiring an additional 207 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in Taylor Morrison Home by 30.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 899 shares of the construction company’s stock valued at $55,000 after acquiring an additional 211 shares during the period. Finally, Verdence Capital Advisors LLC boosted its holdings in Taylor Morrison Home by 3.3% during the fourth quarter. Verdence Capital Advisors LLC now owns 6,795 shares of the construction company’s stock valued at $400,000 after acquiring an additional 220 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on TMHC shares. Citigroup cut shares of Taylor Morrison Home from an “outperform” rating to a “market perform” rating in a research note on Monday. Barclays increased their target price on shares of Taylor Morrison Home from $68.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday, April 23rd. Citizens Jmp cut shares of Taylor Morrison Home from a “market outperform” rating to a “hold” rating in a research note on Monday, June 1st. Wolfe Research reiterated an “outperform” rating and issued a $76.00 target price on shares of Taylor Morrison Home in a research note on Thursday, April 23rd. Finally, Truist Financial reduced their target price on shares of Taylor Morrison Home from $80.00 to $72.50 and set a “buy” rating for the company in a research note on Monday. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Taylor Morrison Home has a consensus rating of “Hold” and a consensus target price of $76.86.

Taylor Morrison Home Stock Performance

Shares of Taylor Morrison Home stock opened at $71.48 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 7.66 and a quick ratio of 1.45. The firm has a market cap of $6.68 billion, a P/E ratio of 10.67, a P/E/G ratio of 1.65 and a beta of 1.47. The firm has a 50 day simple moving average of $60.39 and a 200 day simple moving average of $61.54. Taylor Morrison Home Corporation has a fifty-two week low of $54.15 and a fifty-two week high of $72.50.

Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings results on Wednesday, April 22nd. The construction company reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.82 by $0.30. Taylor Morrison Home had a net margin of 8.77% and a return on equity of 11.48%. The business had revenue of $1.39 billion during the quarter, compared to analyst estimates of $1.33 billion. During the same quarter last year, the business posted $2.07 earnings per share. Taylor Morrison Home’s revenue for the quarter was down 26.8% compared to the same quarter last year. Sell-side analysts predict that Taylor Morrison Home Corporation will post 5.36 earnings per share for the current fiscal year.

Taylor Morrison Home Company 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.