Long Pond Capital LP Acquires New 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 stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor 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 largest holding. Long Pond Capital LP owned 0.67% of Taylor Morrison Home as of its most recent SEC filing.

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

Analysts Set New Price Targets

TMHC has been the subject of several research analyst reports. Wall Street Zen lowered shares of Taylor Morrison Home from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. Bank of America began coverage on shares of Taylor Morrison Home in a research report on Monday, May 5th. They issued a "buy" rating and a $70.00 price objective for the company. Finally, Seaport Res Ptn raised shares of Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $76.88.

Insiders Place Their Bets

In other Taylor Morrison Home news, CFO Curtis Vanhyfte sold 9,754 shares of the firm's stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $65.22, for a total transaction of $636,155.88. Following the completion of the transaction, the chief financial officer directly owned 14,163 shares of the company's stock, valued at $923,710.86. This trade represents a 40.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.40% of the stock is currently owned by corporate insiders.

Taylor Morrison Home Price Performance

TMHC opened at $69.4110 on Monday. The company has a fifty day simple moving average of $63.23 and a 200 day simple moving average of $60.53. The firm has a market cap of $6.97 billion, a price-to-earnings ratio of 8.02 and a beta of 1.53. Taylor Morrison Home Corporation has a twelve month low of $51.90 and a twelve month 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.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The construction company reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $1.94 by $0.08. The business 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%. The business's revenue was up 2.0% on a year-over-year basis. During the same period last year, the business earned $1.86 EPS. Equities research analysts expect that Taylor Morrison Home Corporation will post 8.93 EPS for the current fiscal year.

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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