First Manhattan CO. LLC. Makes New $8.05 Million Investment in Taylor Morrison Home Corporation $TMHC

Key Points

• First Manhattan CO. LLC. has acquired a stake in Taylor Morrison Home Corporation, purchasing 134,065 shares valued at approximately $8.05 million, representing a 0.13% ownership.
• Taylor Morrison Home's stock showed positive earnings results, reporting $2.02 EPS which surpassed analysts' expectations of $1.94, and a revenue of $2.03 billion for the last quarter.
• Analysts have a generally positive outlook on Taylor Morrison Home, with an average price target of $76.88, as multiple research firms have rated the stock as "buy" or "strong-buy".

First Manhattan CO. LLC. bought a new position in Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 134,065 shares of the construction company's stock, valued at approximately $8,049,000. First Manhattan CO. LLC. owned approximately 0.13% of Taylor Morrison Home at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its stake in Taylor Morrison Home by 193.0% in the 1st quarter. GAMMA Investing LLC now owns 674 shares of the construction company's stock worth $40,000 after purchasing an additional 444 shares in the last quarter. KBC Group NV lifted its stake in Taylor Morrison Home by 16.7% in the 1st quarter. KBC Group NV now owns 4,987 shares of the construction company's stock worth $299,000 after purchasing an additional 714 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. acquired a new stake in shares of Taylor Morrison Home during the 1st quarter worth approximately $243,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Taylor Morrison Home by 10.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,200 shares of the construction company's stock worth $552,000 after buying an additional 900 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Taylor Morrison Home by 15.6% during the 1st quarter. Cerity Partners LLC now owns 24,507 shares of the construction company's stock worth $1,471,000 after buying an additional 3,311 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TMHC has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of Taylor Morrison Home from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Seaport Res Ptn upgraded shares of Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $76.88.

Taylor Morrison Home Trading Up 2.4%

Taylor Morrison Home stock traded up $1.66 during trading on Friday, hitting $71.76. The company had a trading volume of 1,368,165 shares, compared to its average volume of 1,066,704. Taylor Morrison Home Corporation has a 1-year low of $51.90 and a 1-year high of $75.49. The company has a current ratio of 6.54, a quick ratio of 0.74 and a debt-to-equity ratio of 0.35. The company's 50 day simple moving average is $64.97 and its 200-day simple moving average is $60.91. The stock has a market cap of $7.20 billion, a price-to-earnings ratio of 8.29 and a beta of 1.58.

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

Insider Activity at Taylor Morrison Home

In related news, CFO Curtis Vanhyfte sold 5,082 shares of Taylor Morrison Home stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $69.97, for a total value of $355,587.54. Following the completion of the sale, the chief financial officer owned 11,742 shares in the company, valued at approximately $821,587.74. This trade represents a 30.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sheryl Palmer sold 25,000 shares of the business's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $70.20, for a total transaction of $1,755,000.00. Following the completion of the transaction, the chief executive officer owned 383,988 shares of the company's stock, valued at approximately $26,955,957.60. This trade represents a 6.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,836 shares of company stock valued at $2,746,743 in the last quarter. 1.40% of the stock is owned by insiders.

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.