Algert Global LLC Acquires 9,360 Shares of Taylor Morrison Home Corporation $TMHC

Key Points

• Algert Global LLC increased its stake in Taylor Morrison Home Corporation by 4.0% in the 1st quarter, holding 242,241 shares valued at approximately $14.5 million.
• Several institutional investors have also grown their positions, with American Century Companies Inc. increasing its stake by 14.4%, now owning over 877,000 shares.
• According to recent analyst reports, Taylor Morrison Home has a consensus price target of $76.88, with a majority rating the stock as a "Buy" or better.

Algert Global LLC grew its stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 242,241 shares of the construction company's stock after buying an additional 9,360 shares during the period. Taylor Morrison Home accounts for approximately 0.4% of Algert Global LLC's portfolio, making the stock its 28th largest holding. Algert Global LLC owned approximately 0.24% of Taylor Morrison Home worth $14,544,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC bought a new position in Taylor Morrison Home in the 1st quarter valued at $51,329,000. Victory Capital Management Inc. raised its position 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 worth $47,671,000 after buying an additional 526,819 shares in the last quarter. Assenagon Asset Management S.A. raised its position 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 worth $54,760,000 after buying an additional 405,875 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Taylor Morrison Home in the fourth quarter worth $14,736,000. Finally, Point72 Asset Management L.P. purchased a new stake in shares of Taylor Morrison Home in the fourth quarter worth $13,332,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TMHC. Wedbush reiterated an "outperform" rating and issued a $85.00 price objective on shares of Taylor Morrison Home in a research report on Wednesday, April 23rd. Seaport Res Ptn raised shares of Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. Wall Street Zen cut Taylor Morrison Home from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Bank of America assumed coverage on Taylor Morrison Home in a research report on Monday, May 5th. They set a "buy" rating and a $70.00 price target on the stock. Finally, Barclays set a $69.00 target price on shares of Taylor Morrison Home and gave the company an "overweight" rating in a report on Thursday, April 24th. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $76.88.

Insiders Place Their Bets

In related news, CFO Curtis Vanhyfte sold 9,754 shares of the company's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $65.22, for a total value of $636,155.88. Following the transaction, the chief financial officer owned 14,163 shares in the company, valued at $923,710.86. The trade was a 40.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.40% of the company's stock.

Taylor Morrison Home Trading Down 3.1%

NYSE TMHC traded down $2.1420 on Wednesday, hitting $66.6480. The company's stock had a trading volume of 1,397,579 shares, compared to its average volume of 1,077,870. Taylor Morrison Home Corporation has a 52-week low of $51.90 and a 52-week 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 $62.71 and its 200 day simple moving average is $60.49. The firm has a market cap of $6.69 billion, a P/E ratio of 7.70 and a beta of 1.53.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The construction company reported $2.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.94 by $0.08. The firm had revenue of $2.03 billion during 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 quarter in the prior year, the company earned $1.86 EPS. Research analysts predict 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.