Long Pond Capital LP Takes $40.35 Million Position in Taylor Morrison Home Corporation $TMHC

Key Points

• Long Pond Capital LP has acquired a new stake in Taylor Morrison Home Corporation, purchasing 671,970 shares valued at approximately $40.3 million, making it the firm's 18th largest holding.
• Several other institutional investors have also increased their holdings in Taylor Morrison, leading to a total of 95.16% of the stock being held by institutional investors.
• Analysts have mixed sentiments, with one research firm lowering its rating from "buy" to "hold," while Bank of America issued a "buy" rating with a target price of $70.00.

Long Pond Capital LP acquired a new position in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 671,970 shares of the construction company's stock, valued at approximately $40,345,000. Taylor Morrison Home accounts for about 2.6% of Long Pond Capital LP's holdings, making the stock its 18th biggest position. Long Pond Capital LP owned 0.67% of Taylor Morrison Home at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the company. Covestor Ltd lifted its position in shares of Taylor Morrison Home by 14.9% during the first quarter. Covestor Ltd now owns 1,292 shares of the construction company's stock worth $78,000 after purchasing an additional 168 shares in the last quarter. Cornerstone Select Advisors LLC grew its position in shares of Taylor Morrison Home by 0.7% during the first quarter. Cornerstone Select Advisors LLC now owns 24,190 shares of the construction company's stock worth $1,452,000 after acquiring an additional 175 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Taylor Morrison Home by 6.1% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,449 shares of the construction company's stock valued at $207,000 after buying an additional 197 shares in the last quarter. Avantax Advisory Services Inc. grew its position in Taylor Morrison Home by 3.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 5,891 shares of the construction company's stock valued at $354,000 after buying an additional 201 shares in the last quarter. Finally, Xponance Inc. lifted its holdings in Taylor Morrison Home by 1.4% in the 1st quarter. Xponance Inc. now owns 15,631 shares of the construction company's stock valued at $938,000 after acquiring an additional 220 shares during the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Taylor Morrison Home

In other Taylor Morrison Home news, CEO Sheryl Palmer sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $70.20, for a total value of $1,755,000.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Curtis Vanhyfte sold 5,082 shares of the firm's 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 directly owned 11,742 shares of the company's stock, valued at $821,587.74. This trade represents a 30.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,836 shares of company stock valued at $2,746,743 in the last ninety days. 1.40% of the stock is currently owned by insiders.

Taylor Morrison Home Trading Up 0.0%

Taylor Morrison Home stock traded up $0.01 during trading hours on Friday, hitting $67.32. The stock had a trading volume of 888,894 shares, compared to its average volume of 1,156,965. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of 7.77 and a beta of 1.53. The business's 50 day simple moving average is $64.19 and its 200-day simple moving average is $60.74. 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 one year low of $51.90 and a one year high of $75.49.

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 for the quarter, beating the consensus estimate of $1.94 by $0.08. The company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $1.93 billion. Taylor Morrison Home had a return on equity of 16.22% and a net margin of 10.72%.The business's quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.86 earnings per share. On average, equities analysts predict that Taylor Morrison Home Corporation will post 8.93 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on TMHC. 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. Bank of America began coverage on Taylor Morrison Home in a research report on Monday, May 5th. They issued a "buy" rating and a $70.00 target price for the company. Finally, Seaport Res Ptn upgraded Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to MarketBeat, Taylor Morrison Home presently 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.