Principal Financial Group Inc. Sells 30,768 Shares of Taylor Morrison Home Corporation $TMHC

Key Points

• Principal Financial Group reduced its stake in Taylor Morrison Home by 2.5% in the first quarter, selling 30,768 shares. It still held 1,218,934 shares worth about $70.99 million at quarter-end.
• Taylor Morrison Home reported better-than-expected quarterly results, posting EPS of $1.12 versus the $0.82 estimate and revenue of $1.39 billion versus $1.33 billion expected. However, revenue was still down 26.8% year over year.
• Analyst sentiment has softened, with several firms cutting ratings and the stock now carrying a Hold consensus. The average price target is $77.43, above the recent trading price around $72.14.

Principal Financial Group Inc. decreased its position in Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 2.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,218,934 shares of the construction company's stock after selling 30,768 shares during the period. Principal Financial Group Inc. owned 1.30% of Taylor Morrison Home worth $70,991,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Miller Capital Partners Inc. purchased a new position in shares of Taylor Morrison Home during the fourth quarter valued at $27,000. Brown Brothers Harriman & Co. purchased a new stake in Taylor Morrison Home in the fourth quarter worth about $33,000. Root Financial Partners LLC lifted its stake in Taylor Morrison Home by 65.7% in the first quarter. Root Financial Partners LLC now owns 638 shares of the construction company's stock worth $37,000 after acquiring an additional 253 shares during the period. V Square Quantitative Management LLC bought a new position in Taylor Morrison Home during the 4th quarter worth about $40,000. Finally, Los Angeles Capital Management LLC bought a new position in Taylor Morrison Home during the 4th quarter worth about $45,000. Institutional investors own 95.16% of the company's stock.

Taylor Morrison Home Trading Up 0.4%

NYSE:TMHC opened at $72.14 on Friday. The stock has a market capitalization of $6.74 billion, a price-to-earnings ratio of 10.77, a PEG 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. 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 50 day moving average of $67.27 and a 200 day moving average of $63.74.

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

Analysts Set New Price Targets

TMHC has been the subject of several recent research reports. Wolfe Research lowered shares of Taylor Morrison Home from an "outperform" rating to a "peer perform" rating in a report on Wednesday, June 10th. Weiss Ratings downgraded shares of Taylor Morrison Home from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, April 24th. Bank of America cut their price objective on shares of Taylor Morrison Home from $72.00 to $68.00 and set a "neutral" rating on the stock in a report on Monday, April 20th. Barclays reissued an "equal weight" rating and issued a $73.00 price objective (up from $69.00) on shares of Taylor Morrison Home in a research note on Tuesday. Finally, Raymond James Financial lowered Taylor Morrison Home from an "outperform" rating to a "market perform" rating in a report on Friday, June 26th. Two equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $77.43.

About Taylor Morrison Home

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.

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