Woodline Partners LP Purchases 87,473 Shares of Taylor Morrison Home Corporation $TMHC

Key Points

• Woodline Partners LP increased its stake in Taylor Morrison Home Corporation by 92.1%, now owning 182,488 shares valued at approximately $10.96 million.
• In recent analyst ratings, Taylor Morrison Home received a strong-buy upgrade from Seaport Res Ptn, while it has a consensus rating of buy with an average target price of $76.88.
• The company's latest quarterly earnings showed a 2.0% growth in revenue year-over-year, reporting earnings per share of $2.02, exceeding analysts' expectations by $0.08.

Woodline Partners LP boosted its holdings in Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 92.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 182,488 shares of the construction company's stock after buying an additional 87,473 shares during the period. Woodline Partners LP owned approximately 0.18% of Taylor Morrison Home worth $10,957,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its stake in Taylor Morrison Home by 193.0% in the 1st quarter. GAMMA Investing LLC now owns 674 shares of the construction company's stock valued at $40,000 after buying an additional 444 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Taylor Morrison Home by 49.5% in the 1st quarter. Farther Finance Advisors LLC now owns 791 shares of the construction company's stock valued at $48,000 after buying an additional 262 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Taylor Morrison Home by 50.2% in the 1st quarter. Harbor Capital Advisors Inc. now owns 844 shares of the construction company's stock valued at $51,000 after buying an additional 282 shares in the last quarter. Fifth Third Bancorp grew its stake in Taylor Morrison Home by 27.8% in the 1st quarter. Fifth Third Bancorp now owns 1,034 shares of the construction company's stock valued at $62,000 after buying an additional 225 shares in the last quarter. Finally, UMB Bank n.a. grew its stake in Taylor Morrison Home by 107.1% in the 1st quarter. UMB Bank n.a. now owns 1,114 shares of the construction company's stock valued at $67,000 after buying an additional 576 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Taylor Morrison Home from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Seaport Res Ptn upgraded shares of Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 23rd. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. Based on data from MarketBeat, Taylor Morrison Home has an average rating of "Buy" and a consensus target price of $76.88.

Taylor Morrison Home Trading Up 1.3%

Taylor Morrison Home stock traded up $0.92 during mid-day trading on Wednesday, hitting $69.17. The company's stock had a trading volume of 118,190 shares, compared to its average volume of 1,078,409. 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 stock has a market cap of $6.94 billion, a price-to-earnings ratio of 8.00 and a beta of 1.58. The business has a 50 day moving average price of $65.90 and a 200-day moving average price of $61.29. Taylor Morrison Home Corporation has a 12 month low of $51.90 and a 12 month high of $75.49.

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

Insiders Place Their Bets

In other news, CFO Curtis Vanhyfte sold 5,082 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $69.97, for a total transaction of $355,587.54. Following the completion of the transaction, the chief financial officer directly owned 11,742 shares of the company's stock, valued at approximately $821,587.74. This represents a 30.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sheryl Palmer sold 13,513 shares of the company's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $72.06, for a total transaction of $973,746.78. Following the transaction, the chief executive officer directly owned 370,475 shares of the company's stock, valued at approximately $26,696,428.50. This trade represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 67,351 shares of company stock valued at $4,700,630 over the last three months. Insiders own 1.40% of the company's stock.

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.