Taylor Morrison Home Corporation $TMHC Shares Sold by Tectonic Advisors LLC

Key Points

• Tectonic Advisors LLC has reduced its stake in Taylor Morrison Home Corporation by 26.7%, selling 7,571 shares and ending up with a total of 20,763 shares valued at approximately $1.27 million.
• In its latest quarterly earnings report, Taylor Morrison reported $2.02 earnings per share, exceeding analyst expectations of $1.94, and posted a revenue of $2.03 billion against estimates of $1.93 billion.
• Several brokerages, including Bank of America, have upgraded Taylor Morrison's rating to "buy", with a consensus price target now set at $77.50.

Tectonic Advisors LLC trimmed its stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 26.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,763 shares of the construction company's stock after selling 7,571 shares during the period. Tectonic Advisors LLC's holdings in Taylor Morrison Home were worth $1,275,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TMHC. GAMMA Investing LLC grew its holdings in Taylor Morrison Home by 193.0% during the first quarter. GAMMA Investing LLC now owns 674 shares of the construction company's stock worth $40,000 after acquiring an additional 444 shares during the period. Farther Finance Advisors LLC grew its holdings in Taylor Morrison Home by 49.5% during the first quarter. Farther Finance Advisors LLC now owns 791 shares of the construction company's stock worth $48,000 after acquiring an additional 262 shares during the period. Harbor Capital Advisors Inc. grew its holdings in Taylor Morrison Home by 50.2% during the first quarter. Harbor Capital Advisors Inc. now owns 844 shares of the construction company's stock worth $51,000 after acquiring an additional 282 shares during the period. Parallel Advisors LLC grew its holdings in Taylor Morrison Home by 29.9% during the second quarter. Parallel Advisors LLC now owns 882 shares of the construction company's stock worth $54,000 after acquiring an additional 203 shares during the period. Finally, Fifth Third Bancorp grew its holdings in Taylor Morrison Home by 27.8% in the first quarter. Fifth Third Bancorp now owns 1,034 shares of the construction company's stock valued at $62,000 after purchasing an additional 225 shares during the period. 95.16% of the stock is owned by institutional investors and hedge funds.

Taylor Morrison Home Stock Performance

Shares of NYSE:TMHC opened at $62.00 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.54 and a quick ratio of 0.74. The business's 50 day moving average price is $67.04 and its 200-day moving average price is $61.98. The firm has a market capitalization of $6.22 billion, a PE ratio of 7.16 and a beta of 1.61. Taylor Morrison Home Corporation has a 1 year low of $51.90 and a 1 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 (EPS) for the quarter, topping analysts' consensus estimates of $1.94 by $0.08. The firm 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% on a year-over-year basis. During the same period in the previous year, the company posted $1.86 earnings per share. As a group, equities research analysts expect that Taylor Morrison Home Corporation will post 8.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TMHC. Seaport Res Ptn raised Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. Weiss Ratings reissued a "buy (b)" rating on shares of Taylor Morrison Home in a report on Wednesday. Finally, Bank of America raised their price objective on Taylor Morrison Home from $72.00 to $75.00 and gave the company a "buy" rating in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company's stock. According to data from MarketBeat, Taylor Morrison Home currently has a consensus rating of "Buy" and a consensus price target of $77.50.

Insider Transactions at Taylor Morrison Home

In other news, CFO Curtis Vanhyfte sold 5,082 shares of Taylor Morrison Home stock in a transaction that occurred on 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 directly owned 11,742 shares of the company's stock, valued at $821,587.74. The trade was a 30.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sheryl Palmer sold 13,513 shares of Taylor Morrison Home stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $72.06, for a total value of $973,746.78. Following the completion of the sale, the chief executive officer directly owned 370,475 shares in the company, valued at $26,696,428.50. This represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,351 shares of company stock valued at $4,700,630 over the last ninety days. Insiders own 1.40% of the company's stock.

Taylor Morrison Home Company Profile

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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