BlackRock Fund Advisors recently announced the acquisition of new stake in Taylor Morrison Home Corporation (NYSE:TMHC). The institutional investor has increased its shareholding in the Consumer Cyclical company by 0.21% to 12.12 million shares with purchase of 25128.0 shares. This fresh investment now brings its stake to 11.11% valued currently at $522.46 million. In addition, Macquarie Investment Management B raised its holdings by 71577.0 to 3.23 million shares.
With over 1.88 million Taylor Morrison Home Corporation (TMHC) shares trading Monday and a closing price of $42.99 on the day, the dollar volume was approximately $80.71 million. The shares have shown a positive half year performance of 57.65% and its price on 05/22/23 lost nearly -2.85%. Currently, there are 108.43M common shares owned by the public and among those 102.95M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for TMHC have a consensus price objective of $47.30. The analysts have set the share’s price value over the next 12 months at a high of $57.50 and a low of $42.00. The average price target is 3.93% above its recent price level and a downside to the estimated low will see the stock lose -2.36% over that period. But an upside of 25.23% will see the stock hit the forecast high price target while median target price for the stock is $45.00.
Insiders at the company have transacted a total of 118 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 45 of these insider trades were purchases, accounting for 707,089 shares. Insider sales of the common stock occurred on 73 occasions, with total insider shares sold totaling 1,222,204 shares.
The top 3 mutual fund holders in Taylor Morrison Home Corporation are Vanguard Selected Value Fund, iShares Core S&P Mid Cap ETF, and Vanguard Total Stock Market ETF. Vanguard Selected Value Fund owns 3.57 million shares of the company’s stock, all valued at over $153.9 million. iShares Core S&P Mid Cap ETF bought 11925.0 shares to see its total holdings expand to 3.38 million shares valued at over $145.69 million and representing 3.10% of the shares outstanding. Vanguard Total Stock Market ETF bought 3486.0 shares to bring its total holdings to over 3.15 million shares at a value of $135.88 million. Vanguard Total Stock Market ETF now owns shares totaling to 2.89% of the shares outstanding.
Shares of Taylor Morrison Home Corporation (NYSE: TMHC) opened at $44.29, up $0.04 from a prior closing price of $44.25. However, the script later moved the day high at 44.72, down -2.85%. The company’s stock has a 5-day price change of -1.13% and 23.71% over the past three months. TMHC shares are trading 41.65% year to date (YTD), with the 12-month market performance up to 55.25% higher. It has a 12-month low price of $20.05 and touched a high of $45.51 over the same period. TMHC has an average intraday trading volume of 1.02 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 0.64%, 9.15%, and 34.98% respectively.
Institutional ownership of Taylor Morrison Home Corporation (NYSE: TMHC) shares accounts for 102.07% of the company’s 108.43M shares outstanding. Mutual fund holders own 5.47%, while other institutional holders and individual stakeholders account for 61.43% and 37.26% respectively.
It has a market capitalization of $4.80B and a beta (3y monthly) value of 1.72. The stock’s trailing 12-month PE ratio is 4.56, while the earnings-per-share (ttm) stands at $9.42. The company has a PEG of 1.29 and the debt-to-equity ratio at 0.48. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.24% over the week and 2.89% over the month.
Analysts forecast that Taylor Morrison Home Corporation (TMHC) will achieve an EPS of $1.66 for the current quarter, $1.56 for the next quarter and $6.56 for 2024. The lowest estimate earnings-per-share for the quarter is $1.59 while analysts give the company a high EPS estimate of $1.8. Comparatively, EPS for the current quarter was $2.45 a year ago. Earnings per share for the fiscal year are expected to increase by 74.90%, and -2.77% over the next financial year. EPS should shrink at an annualized rate of 3.55% over the next five years, compared to 105.00% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate Taylor Morrison Home Corporation (TMHC) as a “Moderate Buy” at a consensus score of 2.50. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 5 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
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