In a recent transaction, William H. Lyon, a director at Taylor Morrison Home Corp. (NYSE:TMHC), sold a significant number of shares in the company. On July 16, 2024, Lyon sold 30,000 shares of common stock at an average price of $64.33, totaling approximately $1.93 million. This transaction was executed under a pre-arranged trading plan, known as a Rule 10b5-1 plan, which was established on March 15, 2024.
Investors may find the details of the sale noteworthy as it involved a substantial amount of stock. The shares were sold in multiple transactions with prices ranging from $64.01 to $64.67. Post-transaction, Lyon's directly and indirectly held shares in Taylor Morrison Home Corp. amount to 2,255,316 shares owned through an LLC and additional holdings through trusts.
The shares sold by Lyon were held by Lyon LLC, which is managed by Lyon in his capacity as trustee of various trusts that are the members of the LLC. As such, he has both voting and investment power over the securities held by Lyon LLC. Furthermore, Lyon is the beneficiary of the trusts that are members of the LLC.
Investors and followers of Taylor Morrison Home Corp. may take interest in such transactions as they can provide insights into a director's view of the company's stock value and future performance. However, it is important to note that the sale was pre-planned and Lyon did not have discretion over the timing of the transactions due to the Rule 10b5-1 plan.
Taylor Morrison Home Corp., a leading national homebuilder and developer, continues its operations in the real estate and construction industry, with its business address located in Scottsdale, Arizona.
In other recent news, national homebuilder Taylor Morrison announced significant developments. The company reported strong Q1 2024 earnings, surpassing expectations with a robust gross margin of 24%, and delivering 2,731 homes. This resulted in an earnings per share (EPS) of $1.75, and a 14% growth in book value per share. Taylor Morrison also raised its full-year guidance, expecting to deliver around 12,500 homes at an average price between $600,000 and $610,000.
In addition, Taylor Morrison appointed Jaime Pou as the new president of its Atlanta division. Pou, with his extensive background in homebuilding, finance, and investment banking, will oversee strategic growth and operations in the region. The company is planning to launch eight new communities in Atlanta throughout 2024, with Pou leading a team to implement a strategic plan for marketplace growth.
RBC Capital Markets maintained its Outperform rating on Taylor Morrison, raising the price target from $61.00 to $63.00. This reflects the company's recent performance and an optimistic view of its near-term results. These are the latest developments for Taylor Morrison, a company that continues to show resilience and growth in a challenging economic environment.
InvestingPro Insights
Amid the news of William H. Lyon's stock sale, investors in Taylor Morrison Home Corp. (NYSE:TMHC) may be curious about the company's financial health and market performance. According to InvestingPro data, Taylor Morrison boasts a market capitalization of $6.82 billion, with a P/E ratio of 9.33, reflecting a market that currently values the company's earnings attractively. Adjusted for the last twelve months as of Q1 2024, the P/E ratio stands even lower at 8.48, suggesting potential undervaluation compared to historical earnings.
InvestingPro Tips highlight a significant return over the last week with a price total return of 16.68%. This is echoed by strong performance metrics over longer periods, including a 24.89% return over the last year and a 24.87% return over the last six months, indicating sustained investor confidence. Additionally, Taylor Morrison's stock is trading near its 52-week high, at 98.23% of the peak value, a testament to the bullish sentiment surrounding the company.
For investors seeking more in-depth analysis, there are additional tips available on InvestingPro. With the use of coupon code PRONEWS24, users can get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, unlocking valuable insights that could help in making more informed investment decisions. Currently, there are 11 more InvestingPro Tips available for Taylor Morrison Home Corp., including an assessment of the company's debt levels and liquidity, which could provide further context to the recent insider selling activity.
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