Nuveen LLC Takes Position in Taylor Morrison Home Corporation $TMHC

Key Points

• Nuveen LLC acquired a significant stake of 854,921 shares in Taylor Morrison Home Corporation, valued at approximately $51 million, making up 0.85% of the company's stock.
• Recent earnings data showed that Taylor Morrison reported $2.02 earnings per share, surpassing analysts' estimates, and a net revenue increase of 2% year-over-year.
• Analysts have mixed views on the stock, with one downgraded rating to "hold" and several "buy" ratings, resulting in an average target price of $76.88.

Nuveen LLC purchased a new position in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 854,921 shares of the construction company's stock, valued at approximately $51,329,000. Nuveen LLC owned 0.85% of Taylor Morrison Home at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TMHC. Northern Trust Corp grew its holdings in Taylor Morrison Home by 13.4% during the fourth quarter. Northern Trust Corp now owns 1,670,241 shares of the construction company's stock valued at $102,235,000 after purchasing an additional 197,880 shares during the period. Nuveen Asset Management LLC grew its holdings in Taylor Morrison Home by 1.6% during the fourth quarter. Nuveen Asset Management LLC now owns 952,988 shares of the construction company's stock valued at $58,332,000 after purchasing an additional 14,590 shares during the period. Assenagon Asset Management S.A. grew its holdings in Taylor Morrison Home by 80.2% during the first quarter. Assenagon Asset Management S.A. now owns 912,064 shares of the construction company's stock valued at $54,760,000 after purchasing an additional 405,875 shares during the period. Victory Capital Management Inc. grew its holdings in Taylor Morrison Home by 197.2% during the first quarter. Victory Capital Management Inc. now owns 793,987 shares of the construction company's stock valued at $47,671,000 after purchasing an additional 526,819 shares during the period. Finally, Assetmark Inc. grew its holdings in Taylor Morrison Home by 2.9% during the first quarter. Assetmark Inc. now owns 783,185 shares of the construction company's stock valued at $47,022,000 after purchasing an additional 22,265 shares during the period. Institutional investors and hedge funds own 95.16% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TMHC. Seaport Res Ptn raised shares of Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen cut shares of Taylor Morrison Home from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Barclays set a $69.00 price target on shares of Taylor Morrison Home and gave the company an "overweight" rating in a report on Thursday, April 24th. Bank of America started coverage on shares of Taylor Morrison Home in a report on Monday, May 5th. They issued a "buy" rating and a $70.00 price target for the company. Finally, Wedbush reiterated an "outperform" rating and issued a $85.00 price target on shares of Taylor Morrison Home in a report on Wednesday, April 23rd. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $76.88.

Insider Transactions at Taylor Morrison Home

In other Taylor Morrison Home news, CFO Curtis Vanhyfte sold 9,754 shares of the company's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $65.22, for a total transaction of $636,155.88. Following the sale, the chief financial officer directly owned 14,163 shares of the company's stock, valued at approximately $923,710.86. This represents a 40.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 1.40% of the company's stock.

Taylor Morrison Home Stock Performance

NYSE TMHC traded up $0.16 on Monday, hitting $68.14. 700,211 shares of the stock were exchanged, compared to its average volume of 1,070,416. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.54 and a quick ratio of 0.74. The business's fifty day moving average is $62.33 and its 200 day moving average is $60.41. Taylor Morrison Home Corporation has a 52 week low of $51.90 and a 52 week high of $75.49. The company has a market capitalization of $6.84 billion, a PE ratio of 7.87 and a beta of 1.53.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. The construction company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.08. Taylor Morrison Home had a net margin of 10.72% and a return on equity of 16.22%. The firm had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the prior year, the firm posted $1.86 earnings per share. The company's quarterly revenue was up 2.0% compared to the same quarter last year. Research analysts anticipate that Taylor Morrison Home Corporation will post 8.93 EPS for the current fiscal year.

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.