Hodges Capital Management Inc. Sells 185,622 Shares of Taylor Morrison Home Corporation $TMHC

Key Points

• Hodges Capital Management Inc. reduced its stake in Taylor Morrison Home Corporation by 45.1%, selling 185,622 shares and now holds 225,744 shares, representing 1.4% of its portfolio.
• Institutional investors own approximately 95.16% of Taylor Morrison's stock, with significant investments from firms like Nuveen LLC and Victory Capital Management Inc., which raised holdings by 197.2%.
• Taylor Morrison reported earnings of $2.02 per share for the last quarter, surpassing estimates, and experienced a revenue increase of 2.0% year-over-year, totaling $2.03 billion.

Hodges Capital Management Inc. trimmed its position in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 45.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 225,744 shares of the construction company's stock after selling 185,622 shares during the quarter. Taylor Morrison Home accounts for 1.4% of Hodges Capital Management Inc.'s portfolio, making the stock its 15th largest position. Hodges Capital Management Inc. owned approximately 0.22% of Taylor Morrison Home worth $13,554,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TMHC. Nuveen LLC bought a new position in shares of Taylor Morrison Home during the first quarter worth $51,329,000. Long Pond Capital LP bought a new position in shares of Taylor Morrison Home during the first quarter worth $40,345,000. Junto Capital Management LP bought a new position in shares of Taylor Morrison Home during the first quarter worth $34,007,000. Victory Capital Management Inc. raised its holdings in shares of Taylor Morrison Home by 197.2% during the first quarter. Victory Capital Management Inc. now owns 793,987 shares of the construction company's stock worth $47,671,000 after acquiring an additional 526,819 shares during the period. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Taylor Morrison Home by 80.2% during the first quarter. Assenagon Asset Management S.A. now owns 912,064 shares of the construction company's stock worth $54,760,000 after acquiring an additional 405,875 shares during the period. 95.16% of the stock is owned by institutional investors.

Taylor Morrison Home Trading Up 2.1%

Shares of NYSE:TMHC opened at $71.18 on Friday. The company has a quick ratio of 0.74, a current ratio of 6.54 and a debt-to-equity ratio of 0.35. Taylor Morrison Home Corporation has a 12 month low of $51.90 and a 12 month high of $75.49. The company's fifty day simple moving average is $65.54 and its 200 day simple moving average is $61.16. The firm has a market cap of $7.14 billion, a price-to-earnings ratio of 8.22 and a beta of 1.58.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The construction company reported $2.02 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $1.93 billion. During the same period in the previous year, the business earned $1.86 EPS. The company's revenue was up 2.0% compared to the same quarter last year. As a group, research analysts forecast that Taylor Morrison Home Corporation will post 8.93 EPS for the current fiscal year.

Insider Buying and Selling at Taylor Morrison Home

In other Taylor Morrison Home news, CEO Sheryl Palmer sold 13,513 shares of Taylor Morrison Home stock in a transaction on Friday, September 5th. The shares were sold at an average price of $72.06, for a total value of $973,746.78. Following the sale, the chief executive officer directly owned 370,475 shares in the company, valued at approximately $26,696,428.50. The trade was a 3.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Curtis Vanhyfte sold 5,082 shares of Taylor Morrison Home stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $69.97, for a total transaction of $355,587.54. Following the completion of the sale, the chief financial officer owned 11,742 shares in the company, valued at $821,587.74. The trade was a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 53,349 shares of company stock worth $3,720,490 over the last quarter. Company insiders own 1.40% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on TMHC. 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. Wall Street Zen lowered shares of Taylor Morrison Home from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. One research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $76.88.

About Taylor Morrison Home

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.

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