Assetmark Inc. Boosts Position in Taylor Morrison Home Corporation (NYSE:TMHC)

Key Points

• Assetmark Inc. raised its stake in Taylor Morrison Home Corporation by 2.9% in the first quarter, owning approximately 0.78% of the company worth $47 million as of the latest SEC filing.
• Institutional investors now own 95.16% of Taylor Morrison Home's stock, with significant increases in stakes from firms like Victory Capital Management and Assenagon Asset Management.
• Recent earnings reported a $2.02 EPS, beating estimates, with a revenue of $2.03 billion, contributing to a consensus rating of "Buy" from analysts with a price target of around $76.88.

Assetmark Inc. grew its stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 2.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 783,185 shares of the construction company's stock after purchasing an additional 22,265 shares during the quarter. Assetmark Inc. owned approximately 0.78% of Taylor Morrison Home worth $47,022,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in shares of Taylor Morrison Home by 193.0% during the first quarter. GAMMA Investing LLC now owns 674 shares of the construction company's stock valued at $40,000 after purchasing an additional 444 shares during the period. KBC Group NV lifted its stake in Taylor Morrison Home by 16.7% in the first quarter. KBC Group NV now owns 4,987 shares of the construction company's stock worth $299,000 after acquiring an additional 714 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its stake in Taylor Morrison Home by 10.8% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,200 shares of the construction company's stock worth $552,000 after acquiring an additional 900 shares during the period. Cerity Partners LLC lifted its stake in Taylor Morrison Home by 15.6% in the first quarter. Cerity Partners LLC now owns 24,507 shares of the construction company's stock worth $1,471,000 after acquiring an additional 3,311 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in Taylor Morrison Home by 17.5% in the first quarter. Janney Montgomery Scott LLC now owns 8,056 shares of the construction company's stock worth $484,000 after acquiring an additional 1,201 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Taylor Morrison Home Stock Performance

Shares of Taylor Morrison Home stock traded down $0.20 during midday trading on Wednesday, hitting $60.71. The company had a trading volume of 153,892 shares, compared to its average volume of 1,063,857. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 7.00 and a beta of 1.57. The company has a quick ratio of 0.74, a current ratio of 6.54 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $60.36 and a 200 day simple moving average of $60.52. Taylor Morrison Home Corporation has a 12-month low of $51.90 and a 12-month high of $75.49.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The construction company reported $2.02 EPS for the quarter, beating the consensus estimate of $1.94 by $0.08. The firm had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.93 billion. Taylor Morrison Home had a net margin of 10.72% and a return on equity of 16.22%. Taylor Morrison Home's revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm posted $1.86 EPS. As a group, analysts predict that Taylor Morrison Home Corporation will post 8.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TMHC. Seaport Res Ptn raised shares of Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen lowered shares of Taylor Morrison Home from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. BTIG Research set a $75.00 price objective on shares of Taylor Morrison Home and gave the stock a "buy" rating in a research note on Wednesday, April 16th. Bank of America initiated coverage on shares of Taylor Morrison Home in a research report on Monday, May 5th. They set a "buy" rating and a $70.00 price target for the company. Finally, Wedbush reissued an "outperform" rating and set a $85.00 price target on shares of Taylor Morrison Home in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $76.88.

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.