On September 26, 2023, Ritholtz Wealth Management revealed in its most recent disclosure with the Securities & Exchange Commission that it had decreased its holdings in shares of Taylor Morrison Home Co. (NYSE:TMHC) by 11.6% during the second quarter. The fund now owns 19,528 shares of the construction company’s stock, after selling 2,572 shares during that period. Based on their most recent SEC filing, Ritholtz Wealth Management’s holdings in Taylor Morrison Home were valued at $952,000.
Taylor Morrison Home Co., listed on the New York Stock Exchange under the ticker symbol TMHC, opened at $43.12 on Tuesday. The company boasts a market capitalization of $4.72 billion and has a price-to-earnings ratio of 4.74 with a beta of 1.75. Over the past 50 days, its average stock price was $47.01, while over the last two hundred days it stood at $44.13.
Despite market fluctuations, Taylor Morrison Home Co. has experienced notable highs and lows over the course of a year – ranging from a 52-week low of $22.64 to a high of $52.09.
In terms of financial health indicators, Taylor Morrison Home Co.’s quick ratio stands at 1.49 and its current ratio is recorded as 6.13 – both highlighting its capability to meet short-term obligations efficiently and demonstrating financial stability overall. Furthermore, the debt-to-equity ratio for the company is reported as 0.47.
It is important for investors and analysts alike to peruse comprehensive analyses such as this one in order to make informed decisions regarding investment opportunities like Taylor Morrison Home Co.. By keeping abreast of developments related to key companies and assessing their current standing through various metrics, investors can navigate fluctuating markets with confidence in an educated manner.
Updated on: 07/12/2023
Debt to equity ratio: Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Ki Bin Kim
Significant Changes in Shareholder Base and Positive Earnings Propel Taylor Morrison Home’s Growth Prospects
In the ever-changing world of finance and investments, hedge funds and institutional investors constantly make changes to their positions in various companies. Taylor Morrison Home (NYSE:TMHC) is no exception, as it has recently seen some significant shifts in its shareholder base.
One notable change comes from Harel Insurance Investments & Financial Services Ltd., which purchased a new position in shares of Taylor Morrison Home during the second quarter of this year. The investment firm acquired shares worth approximately $360,000, indicating its confidence in the company’s future prospects.
Similarly, Muhlenkamp & Co. Inc. also bought a new position in Taylor Morrison Home during the same period. With an investment of approximately $4,184,000, Muhlenkamp & Co. Inc. demonstrated its belief in the company’s growth potential and long-term value.
Another institutional investor that increased its holdings in Taylor Morrison Home is Xponance Inc., which boosted its stake by 3.3% during the second quarter. This amounted to 17,332 additional shares valued at $845,000 at the end of the quarter.
Tectonic Advisors LLC also showed its faith in Taylor Morrison Home by increasing its stake by 10.2% during the second quarter. The firm now owns 27,212 shares valued at $1,327,000 as of the end of the quarter.
Lastly, Pacer Advisors Inc. acquired a new stake in Taylor Morrison Home worth $932,000 during the second quarter. This further strengthened the company’s relationships with institutional investors who now own a significant portion – precisely 95.32% – of Taylor Morrison Home’s stock.
Apart from these changes on the investor front, there have also been significant developments within Taylor Morrison Home’s board of directors. Director William H. Lyon sold a total of 112,000 shares on two separate occasions – Wednesday, July 12th and Monday, July 3rd. The shares were sold at an average price of $50.09 and $49.03, respectively, amounting to a total transaction value of over $10 million.
These transactions were disclosed in filings with the Securities and Exchange Commission (SEC). It should be noted that insiders, including corporate executives and directors, have sold a total of 263,498 shares over the past three months. This represents approximately 5.20% of the company’s stock and reflects some profit-taking by insiders.
Turning our attention to Taylor Morrison Home’s financial performance, the company reported strong earnings for the second quarter of this year. With earnings per share of $2.12, Taylor Morrison Home beat analysts’ consensus estimates by $0.43. This impressive performance can be attributed to a net margin of 12.25% and a return on equity of 22.24%.
The company also reported revenue of $2.06 billion for the quarter, surpassing analyst estimates of $1.71 billion by a significant margin. Furthermore, Taylor Morrison Home’s revenue grew by 3.3% compared to the same period last year, highlighting its ability to generate consistent top-line growth.
Analysts are optimistic about Taylor Morrison Home’s future prospects as they forecast earnings per share of 7.05 for the current fiscal year.
Many brokerage firms have shared their perspectives on Taylor Morrison Home recently. Wedbush raised its target price from $45.00 to $61.00 in June, signaling confidence in the company’s future performance.
Barclays also showed optimism as they increased their target price from $52.00 to $55.00 while maintaining an “equal weight” rating on the stock.
StockNews.com initiated coverage on Taylor Morrison Home with a buy rating on August 17th, further adding to positive sentiment surrounding the company.
In conclusion, it is evident that Taylor Morrison Home has attracted the attention of various institutional investors, which have made significant purchases of the company’s stock. These moves, alongside positive earnings results and favorable analyst ratings, indicate that Taylor Morrison Home is well-positioned for growth in the construction industry.