Millennium Management LLC Has $46.01 Million Holdings in Taylor Morrison Home Corporation $TMHC

Key Points

• Millennium Management LLC increased its stake in Taylor Morrison Home Corporation by 27.9%, now owning 766,261 shares, valued at approximately $46 million, following the acquisition of an additional 167,366 shares.
• Multiple hedge funds have adjusted their holdings in Taylor Morrison, with institutional investors and hedge funds now owning 95.16% of the company's stock.
• Analysts have mixed ratings on TMHC, with one report upgrading it to a "strong-buy" while another downgraded to a "hold," reflecting a diversity of opinions on its investment potential.

Millennium Management LLC increased its position in Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 27.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 766,261 shares of the construction company's stock after buying an additional 167,366 shares during the quarter. Millennium Management LLC owned about 0.76% of Taylor Morrison Home worth $46,006,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Nuveen Asset Management LLC lifted its holdings in shares of Taylor Morrison Home by 1.6% in the fourth quarter. Nuveen Asset Management LLC now owns 952,988 shares of the construction company's stock valued at $58,332,000 after buying an additional 14,590 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of Taylor Morrison Home by 80.2% in the first quarter. Assenagon Asset Management S.A. now owns 912,064 shares of the construction company's stock valued at $54,760,000 after buying an additional 405,875 shares during the period. American Century Companies Inc. lifted its holdings in shares of Taylor Morrison Home by 14.4% in the first quarter. American Century Companies Inc. now owns 877,305 shares of the construction company's stock valued at $52,673,000 after buying an additional 110,619 shares during the period. Nuveen LLC acquired a new stake in shares of Taylor Morrison Home in the first quarter valued at $51,329,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of Taylor Morrison Home by 197.2% in the first quarter. Victory Capital Management Inc. now owns 793,987 shares of the construction company's stock valued at $47,671,000 after buying an additional 526,819 shares during the period. Institutional investors and hedge funds own 95.16% of the company's stock.

Wall Street Analysts Forecast Growth

TMHC has been the subject of several research analyst reports. Seaport Res Ptn upgraded Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. Wall Street Zen lowered Taylor Morrison Home from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $76.88.

Insider Activity

In other news, CEO Sheryl Palmer sold 13,513 shares of the company's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $72.06, for a total transaction of $973,746.78. Following the completion of the sale, the chief executive officer owned 370,475 shares in the company, valued at approximately $26,696,428.50. This represents a 3.52% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Curtis Vanhyfte sold 5,082 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $69.97, for a total value of $355,587.54. Following the sale, the chief financial officer owned 11,742 shares of the company's stock, valued at approximately $821,587.74. This trade represents a 30.21% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,349 shares of company stock valued at $3,720,490. 1.40% of the stock is currently owned by corporate insiders.

Taylor Morrison Home Stock Down 2.0%

NYSE:TMHC traded down $1.44 during trading hours on Friday, hitting $69.69. 1,231,616 shares of the company's stock traded hands, compared to its average volume of 1,081,764. The firm has a market cap of $6.99 billion, a P/E ratio of 8.05 and a beta of 1.58. Taylor Morrison Home Corporation has a twelve month low of $51.90 and a twelve month high of $75.49. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 6.54. The stock's fifty day moving average price is $65.66 and its two-hundred day moving average price is $61.20.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The construction company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.08. The company had revenue of $2.03 billion for the quarter, compared to analyst estimates 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 revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.86 EPS. On average, research analysts expect that Taylor Morrison Home Corporation will post 8.93 earnings per share 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.