Taylor Morrison Home Co. (NYSE:TMHC) Stake Cut by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in shares of Taylor Morrison Home Co. (NYSE:TMHC) by 11.5% during the third quarter, HoldingsChannel.com reports. The firm owned 654,460 shares of the construction company’s stock after selling 85,387 shares during the period. JPMorgan Chase & Co.’s holdings in Taylor Morrison Home were worth $45,982,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TMHC. V Square Quantitative Management LLC acquired a new stake in shares of Taylor Morrison Home in the 3rd quarter valued at $29,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Taylor Morrison Home in the third quarter worth about $34,000. UMB Bank n.a. boosted its stake in shares of Taylor Morrison Home by 263.9% during the 3rd quarter. UMB Bank n.a. now owns 535 shares of the construction company’s stock worth $38,000 after acquiring an additional 388 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Taylor Morrison Home during the 3rd quarter valued at about $62,000. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Taylor Morrison Home in the second quarter worth $100,000. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on TMHC. BTIG Research boosted their price objective on Taylor Morrison Home from $78.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. StockNews.com upgraded Taylor Morrison Home from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. 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 report on Thursday, October 24th. Raymond James restated an “outperform” rating and set a $84.00 target price (up previously from $81.00) on shares of Taylor Morrison Home in a research report on Tuesday, October 29th. Finally, Wedbush upgraded 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 report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.33.

Taylor Morrison Home Stock Performance

Shares of Taylor Morrison Home stock opened at $61.11 on Monday. The firm has a 50 day simple moving average of $67.73 and a 200 day simple moving average of $65.38. Taylor Morrison Home Co. has a fifty-two week low of $50.00 and a fifty-two week high of $75.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.24 and a quick ratio of 0.69. The firm has a market cap of $6.32 billion, a P/E ratio of 8.08 and a beta of 2.01.

Taylor Morrison Home (NYSE:TMHC) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $2.37 earnings per share for the quarter, topping 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 firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same period in the previous year, the business posted $1.62 EPS. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. Sell-side analysts predict that Taylor Morrison Home Co. will post 8.44 earnings per share 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 develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.