Taylor Morrison Home Co. (NYSE:TMHC) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its stake in Taylor Morrison Home Co. (NYSE:TMHC) by 4,586.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 663,385 shares of the construction company’s stock after buying an additional 649,230 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.62% of Taylor Morrison Home worth $41,243,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Mariner LLC lifted its holdings in Taylor Morrison Home by 11.8% in the third quarter. Mariner LLC now owns 10,676 shares of the construction company’s stock valued at $455,000 after acquiring an additional 1,129 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Taylor Morrison Home during the third quarter worth $364,000. Qube Research & Technologies Ltd grew its position in Taylor Morrison Home by 25.2% during the third quarter. Qube Research & Technologies Ltd now owns 64,268 shares of the construction company’s stock valued at $2,738,000 after buying an additional 12,945 shares during the period. Lazard Asset Management LLC increased its holdings in Taylor Morrison Home by 18.0% in the third quarter. Lazard Asset Management LLC now owns 16,072 shares of the construction company’s stock valued at $683,000 after buying an additional 2,446 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Taylor Morrison Home by 9.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 623,260 shares of the construction company’s stock worth $26,557,000 after acquiring an additional 54,199 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TMHC. Wedbush restated an “outperform” rating and issued a $61.00 price target on shares of Taylor Morrison Home in a research note on Thursday, May 30th. Royal Bank of Canada increased their target price on Taylor Morrison Home from $61.00 to $63.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. StockNews.com lowered shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Thursday, June 27th. Finally, Zelman & Associates raised shares of Taylor Morrison Home from an “underperform” rating to a “neutral” rating in a report on Friday, April 12th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $59.40.

Taylor Morrison Home Stock Performance

NYSE:TMHC opened at $53.93 on Thursday. The company has a market cap of $5.70 billion, a P/E ratio of 7.72 and a beta of 1.95. Taylor Morrison Home Co. has a twelve month low of $37.23 and a twelve month high of $62.64. The company’s 50-day moving average price is $56.97 and its 200-day moving average price is $55.88. The company has a current ratio of 6.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.39.

Taylor Morrison Home (NYSE:TMHC) last released its earnings results on Tuesday, April 30th. The construction company reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.18. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.66 billion. Taylor Morrison Home had a net margin of 10.30% and a return on equity of 15.75%. The business’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $1.74 EPS. On average, sell-side analysts forecast that Taylor Morrison Home Co. will post 7.62 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Taylor Morrison Home news, CEO Sheryl Palmer sold 100,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $61.70, for a total value of $6,170,000.00. Following the completion of the sale, the chief executive officer now directly owns 19,211 shares of the company’s stock, valued at approximately $1,185,318.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.50% of the stock is currently owned by corporate insiders.

Taylor Morrison Home Company Profile

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 develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.