Taylor Morrison Home Corporation $TMHC Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC cut its stake in Taylor Morrison Home by 82.3% in the first quarter, selling 318,199 shares and leaving it with 68,524 shares valued at about $3.97 million.
• Taylor Morrison Home reported stronger-than-expected quarterly results, posting $1.12 EPS versus $0.82 expected and revenue of $1.39 billion versus $1.33 billion estimated, even though revenue fell 26.8% year over year.
• Wall Street remains cautious on TMHC: analysts have a consensus “Hold” rating with an average price target of $77.43, while recent target cuts and mixed ratings reflect uncertainty around the stock.

Hsbc Holdings PLC lowered its holdings in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 82.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 68,524 shares of the construction company's stock after selling 318,199 shares during the period. Hsbc Holdings PLC owned about 0.07% of Taylor Morrison Home worth $3,965,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Oregon Public Employees Retirement Fund lifted its position in Taylor Morrison Home by 3.1% during the first quarter. Oregon Public Employees Retirement Fund now owns 20,077 shares of the construction company's stock worth $1,169,000 after buying an additional 600 shares during the period. Hodges Capital Management Inc. grew its holdings in Taylor Morrison Home by 9.2% in the 1st quarter. Hodges Capital Management Inc. now owns 212,208 shares of the construction company's stock valued at $12,359,000 after buying an additional 17,809 shares during the period. Hudson Edge Investment Partners Inc. increased its stake in shares of Taylor Morrison Home by 17.5% during the 1st quarter. Hudson Edge Investment Partners Inc. now owns 17,405 shares of the construction company's stock valued at $1,014,000 after acquiring an additional 2,592 shares during the last quarter. HB Wealth Management LLC acquired a new position in shares of Taylor Morrison Home during the 1st quarter valued at about $228,000. Finally, Root Financial Partners LLC lifted its holdings in shares of Taylor Morrison Home by 65.7% during the 1st 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. Hedge funds and other institutional investors own 95.16% of the company's stock.

Taylor Morrison Home Trading Up 0.0%

NYSE:TMHC opened at $72.46 on Friday. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 10.81, a PEG ratio of 1.70 and a beta of 1.44. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.45 and a current ratio of 7.66. Taylor Morrison Home Corporation has a 1 year low of $54.15 and a 1 year high of $72.50. The business has a fifty day moving average of $69.04 and a 200-day moving average of $64.27.

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Zacks Research upgraded shares of Taylor Morrison Home from a "strong sell" rating to a "hold" rating in a report on Wednesday, April 22nd. Seaport Research Partners reiterated a "sell" rating and set a $49.00 price objective (down from $85.00) on shares of Taylor Morrison Home in a research note on Tuesday, April 7th. Weiss Ratings reissued a "hold (c)" rating on shares of Taylor Morrison Home in a research report on Tuesday. Truist Financial dropped their price objective on shares of Taylor Morrison Home from $80.00 to $72.50 and set a "buy" rating for the company in a research report on Monday, June 1st. Finally, Bank of America cut their target price on shares of Taylor Morrison Home from $72.00 to $68.00 and set a "neutral" rating on the stock in a research note on Monday, April 20th. Two research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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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