Virtus Advisers LLC Buys New Position in Taylor Morrison Home Corporation $TMHC

Key Points

• Virtus Advisers LLC has initiated a position in Taylor Morrison Home Corporation, acquiring 11,237 shares valued at approximately $675,000, marking it as the firm's 28th largest holding.
• Despite a recent diminishment to a "hold" rating by Wall Street Zen, Taylor Morrison Home has a consensus rating of "buy" with a target price of $76.88, reflecting optimism about its growth potential.
• Recently, the CFO sold 9,754 shares at an average price of $65.22, leading to a 40.78% decrease in their ownership position, which raises questions about insider confidence.

Virtus Advisers LLC acquired a new position in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,237 shares of the construction company's stock, valued at approximately $675,000. Taylor Morrison Home makes up about 0.9% of Virtus Advisers LLC's investment portfolio, making the stock its 28th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings 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 worth $40,000 after purchasing an additional 444 shares in the last quarter. KBC Group NV grew its holdings in shares of 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 in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. purchased a new position in shares of Taylor Morrison Home during the first quarter worth about $243,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of 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 in the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Taylor Morrison Home Price Performance

NYSE:TMHC traded down $0.07 during mid-day trading on Wednesday, reaching $67.31. The stock had a trading volume of 719,046 shares, compared to its average volume of 1,230,097. The firm has a 50 day moving average price of $63.82 and a two-hundred day moving average price of $60.67. The stock has a market capitalization of $6.76 billion, a P/E ratio of 7.77 and a beta of 1.53. Taylor Morrison Home Corporation has a one year low of $51.90 and a one year 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.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last announced its quarterly earnings data 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. Taylor Morrison Home had a return on equity of 16.22% and a net margin of 10.72%.The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same quarter in the previous year, the company posted $1.86 earnings per share. The business's revenue was up 2.0% on a year-over-year basis. As a group, analysts expect that Taylor Morrison Home Corporation will post 8.93 earnings per share for the current year.

Insider Activity at Taylor Morrison Home

In other Taylor Morrison Home news, CEO Sheryl Palmer sold 25,000 shares of the business'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 in the company, valued at approximately $26,955,957.60. The trade was a 6.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Curtis Vanhyfte sold 5,082 shares of the business'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 owned 11,742 shares of the company's stock, valued at $821,587.74. The trade was a 30.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,836 shares of company stock valued at $2,746,743 in the last quarter. Corporate insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

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

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.