Cambria Investment Management L.P. reduced its holdings in Taylor Morrison Home Co. (NYSE:TMHC – Free Report) by 18.9% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,394 shares of the construction company’s stock after selling 3,113 shares during the quarter. Cambria Investment Management L.P.’s holdings in Taylor Morrison Home were worth $653,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new stake in Taylor Morrison Home during the first quarter worth about $44,000. CWM LLC lifted its stake in Taylor Morrison Home by 39.0% during the first quarter. CWM LLC now owns 1,653 shares of the construction company’s stock worth $63,000 after purchasing an additional 464 shares during the last quarter. Quantbot Technologies LP bought a new stake in Taylor Morrison Home during the first quarter worth about $77,000. Covestor Ltd lifted its stake in Taylor Morrison Home by 100.5% during the first quarter. Covestor Ltd now owns 3,072 shares of the construction company’s stock worth $84,000 after purchasing an additional 1,540 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Taylor Morrison Home during the second quarter worth about $108,000. 95.32% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on TMHC shares. Seaport Res Ptn raised Taylor Morrison Home from a “neutral” rating to a “buy” rating in a research note on Friday, November 3rd. Barclays reduced their price objective on Taylor Morrison Home from $55.00 to $47.00 and set an “equal weight” rating on the stock in a research note on Thursday, October 12th. Credit Suisse Group upped their price objective on shares of Taylor Morrison Home from $47.00 to $56.00 in a research note on Thursday, July 27th. StockNews.com downgraded shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Finally, Royal Bank of Canada lowered their price objective on shares of Taylor Morrison Home from $49.00 to $43.00 and set a “sector perform” rating for the company in a research note on Thursday, October 26th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Taylor Morrison Home currently has a consensus rating of “Hold” and a consensus price target of $49.42.
Insiders Place Their Bets
In other Taylor Morrison Home news, CEO Sheryl Palmer sold 112,500 shares of the company’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $46.01, for a total value of $5,176,125.00. Following the completion of the transaction, the chief executive officer now directly owns 399,942 shares in the company, valued at $18,401,331.42. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.20% of the company’s stock.
Taylor Morrison Home Trading Down 1.5 %
NYSE:TMHC opened at $45.01 on Thursday. The company’s 50-day simple moving average is $42.27 and its 200 day simple moving average is $45.02. The firm has a market capitalization of $4.84 billion, a P/E ratio of 5.69 and a beta of 1.79. Taylor Morrison Home Co. has a one year low of $26.41 and a one year high of $52.09. The company has a debt-to-equity ratio of 0.38, a current ratio of 5.78 and a quick ratio of 0.97.
Taylor Morrison Home (NYSE:TMHC – Get Free Report) last posted its quarterly earnings results on Wednesday, October 25th. The construction company reported $1.62 earnings per share for the quarter, topping analysts’ consensus estimates of $1.52 by $0.10. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.66 billion. Taylor Morrison Home had a net margin of 11.05% and a return on equity of 18.75%. As a group, analysts forecast that Taylor Morrison Home Co. will post 7.24 EPS for the current fiscal year.
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 also develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name; and offers title insurance and closing settlement services, as well as financial services.
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