Fifth Third Bancorp Grows Stock Holdings in Taylor Morrison Home Corporation $TMHC

Key Points

• Fifth Third Bancorp dramatically increased its stake in Taylor Morrison Home, boosting holdings by 2,914.8% in the first quarter to 25,053 shares valued at about $1.46 million.
• Taylor Morrison Home reported stronger-than-expected quarterly results, posting EPS of $1.12 versus the $0.82 estimate and revenue of $1.39 billion, while revenue still fell 26.8% from a year earlier.
• Analyst sentiment remains cautious: several firms have cut ratings, and the stock’s consensus view is “Hold” with an average price target of $77.43.

Fifth Third Bancorp lifted its holdings in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 2,914.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 25,053 shares of the construction company's stock after purchasing an additional 24,222 shares during the quarter. Fifth Third Bancorp's holdings in Taylor Morrison Home were worth $1,459,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. Allworth Financial LP increased its holdings in Taylor Morrison Home by 14.9% during the 3rd quarter. Allworth Financial LP now owns 1,546 shares of the construction company's stock worth $102,000 after purchasing an additional 200 shares during the period. Tectonic Advisors LLC increased its stake in Taylor Morrison Home by 0.7% in the fourth quarter. Tectonic Advisors LLC now owns 29,765 shares of the construction company's stock valued at $1,752,000 after purchasing an additional 207 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of Taylor Morrison Home by 30.7% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 899 shares of the construction company's stock valued at $55,000 after buying an additional 211 shares during the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Taylor Morrison Home by 3.3% during the fourth quarter. Verdence Capital Advisors LLC now owns 6,795 shares of the construction company's stock worth $400,000 after purchasing an additional 220 shares during the last quarter. Finally, Paulson Wealth Management Inc. lifted its holdings in shares of Taylor Morrison Home by 5.2% in the 4th quarter. Paulson Wealth Management Inc. now owns 4,811 shares of the construction company's stock valued at $283,000 after purchasing an additional 238 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Taylor Morrison Home Price Performance

Taylor Morrison Home stock opened at $72.45 on Friday. Taylor Morrison Home Corporation has a 52-week low of $54.15 and a 52-week high of $72.50. The firm has a fifty day moving average of $68.68 and a 200-day moving average of $64.21. The company has a quick ratio of 1.45, a current ratio of 7.66 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $6.77 billion, a P/E ratio of 10.81, a PEG ratio of 1.70 and a beta of 1.44.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last announced its earnings results on Wednesday, April 22nd. The construction company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.82 by $0.30. Taylor Morrison Home had a return on equity of 11.48% and a net margin of 8.77%.The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.33 billion. During the same period last year, the business posted $2.07 EPS. The company's revenue was down 26.8% on a year-over-year basis. As a group, analysts predict that Taylor Morrison Home Corporation will post 5.26 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TMHC. Royal Bank Of Canada downgraded shares of Taylor Morrison Home from an "outperform" rating to a "sector perform" rating and increased their target price for the stock from $69.00 to $72.50 in a research note on Tuesday, June 2nd. Zacks Research upgraded shares of Taylor Morrison Home from a "strong sell" rating to a "hold" rating in a research report on Wednesday, April 22nd. Citigroup cut Taylor Morrison Home from an "outperform" rating to a "market perform" rating in a research report on Monday, June 1st. Seaport Research Partners reissued a "sell" rating and set a $49.00 price objective (down from $85.00) on shares of Taylor Morrison Home in a report on Tuesday, April 7th. Finally, Raymond James Financial cut Taylor Morrison Home from an "outperform" rating to a "market perform" rating in a research report on Friday, June 26th. Two research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $77.43.

Taylor Morrison Home Profile

Taylor Morrison Home Corporation NYSE: TMHC is a leading national homebuilder and developer specializing in the design, construction and sale of single-family detached and attached homes. The company's portfolio spans entry-level, first-time, move-up and active-adult segments, offering buyers a diverse array of architectural styles, floor plans and personalized design options. Through its vertically integrated model, Taylor Morrison manages land acquisition, community development, construction and sales to deliver quality homes and customer-focused experiences across its markets.

The company's heritage traces back to Morrison Homes, founded in 1977, and Taylor Woodrow, established in 1921 in the United Kingdom.

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