Principal Financial Group Inc. Buys 69,222 Shares of Taylor Morrison Home Co. (NYSE:TMHC)

Principal Financial Group Inc. raised its stake in Taylor Morrison Home Co. (NYSE:TMHC) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,051,580 shares of the construction company’s stock after acquiring an additional 69,222 shares during the period. Principal Financial Group Inc.’s holdings in Taylor Morrison Home were worth $144,144,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. MQS Management LLC bought a new stake in Taylor Morrison Home during the 3rd quarter worth approximately $768,000. Lord Abbett & CO. LLC raised its holdings in shares of Taylor Morrison Home by 2.5% in the third quarter. Lord Abbett & CO. LLC now owns 463,287 shares of the construction company’s stock valued at $32,550,000 after buying an additional 11,302 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Taylor Morrison Home during the third quarter worth approximately $1,899,000. Creative Planning lifted its holdings in Taylor Morrison Home by 46.3% during the 3rd quarter. Creative Planning now owns 29,723 shares of the construction company’s stock worth $2,088,000 after buying an additional 9,408 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Taylor Morrison Home by 18.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 786,249 shares of the construction company’s stock valued at $43,590,000 after buying an additional 122,864 shares during the period. 95.16% of the stock is owned by institutional investors.

Taylor Morrison Home Stock Performance

Shares of Taylor Morrison Home stock opened at $59.73 on Friday. Taylor Morrison Home Co. has a 12 month low of $50.00 and a 12 month high of $75.49. The company has a current ratio of 6.24, a quick ratio of 0.69 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $6.18 billion, a PE ratio of 7.90 and a beta of 1.97. The stock’s fifty day simple moving average is $69.25 and its 200 day simple moving average is $64.97.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings data on Wednesday, October 23rd. The construction company reported $2.37 earnings per share for the quarter, beating the consensus estimate of $2.06 by $0.31. Taylor Morrison Home had a return on equity of 15.91% and a net margin of 10.39%. The business had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the previous year, the business posted $1.62 EPS. Taylor Morrison Home’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, research analysts predict that Taylor Morrison Home Co. will post 8.44 EPS for the current year.

Insider Buying and Selling at Taylor Morrison Home

In related news, Director William H. Lyon sold 24,284 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $74.46, for a total transaction of $1,808,186.64. Following the completion of the transaction, the director now directly owns 2,045,316 shares in the company, valued at approximately $152,294,229.36. This trade represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Darrell Sherman sold 26,757 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $70.00, for a total value of $1,872,990.00. Following the completion of the sale, the executive vice president now owns 109,217 shares in the company, valued at $7,645,190. The trade was a 19.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 128,549 shares of company stock valued at $9,159,829. 3.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on TMHC shares. Wedbush raised Taylor Morrison Home from a “neutral” rating to an “outperform” rating and upped their price target for the company from $65.00 to $85.00 in a research note on Friday, October 25th. JPMorgan Chase & Co. lowered their price target on shares of Taylor Morrison Home from $101.00 to $90.00 and set an “overweight” rating for the company in a research report on Friday, December 13th. BTIG Research lifted their target price on shares of Taylor Morrison Home from $78.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Raymond James reissued an “outperform” rating and issued a $84.00 price target (up previously from $81.00) on shares of Taylor Morrison Home in a research note on Tuesday, October 29th. Finally, Royal Bank of Canada lifted their price objective on Taylor Morrison Home from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $85.33.

Taylor Morrison Home 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.