Sippican Capital Advisors Purchases New Position in Taylor Morrison Home Co. (NYSE:TMHC)

Sippican Capital Advisors bought a new position in shares of Taylor Morrison Home Co. (NYSE:TMHCFree Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,500 shares of the construction company’s stock, valued at approximately $246,000.

A number of other hedge funds also recently bought and sold shares of the stock. Bank of New York Mellon Corp lifted its holdings in Taylor Morrison Home by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 1,066,470 shares of the construction company’s stock worth $59,125,000 after buying an additional 4,638 shares during the period. Assenagon Asset Management S.A. lifted its holdings in Taylor Morrison Home by 271.0% during the third quarter. Assenagon Asset Management S.A. now owns 896,032 shares of the construction company’s stock worth $62,955,000 after buying an additional 654,541 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in shares of Taylor Morrison Home by 7.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 846,270 shares of the construction company’s stock valued at $59,459,000 after purchasing an additional 60,021 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Taylor Morrison Home by 1.5% during the 3rd quarter. Wedge Capital Management L L P NC now owns 738,830 shares of the construction company’s stock valued at $51,910,000 after purchasing an additional 10,911 shares during the last quarter. Finally, Hodges Capital Management Inc. lifted its holdings in shares of Taylor Morrison Home by 26.4% during the 2nd quarter. Hodges Capital Management Inc. now owns 447,918 shares of the construction company’s stock valued at $24,833,000 after purchasing an additional 93,567 shares during the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insiders Place Their Bets

In other Taylor Morrison Home news, EVP Darrell Sherman sold 26,757 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $70.00, for a total transaction of $1,872,990.00. Following the sale, the executive vice president now directly owns 109,217 shares of the company’s stock, valued at approximately $7,645,190. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last three months, insiders have sold 95,262 shares of company stock valued at $6,702,557. Company insiders own 3.50% of the company’s stock.

Taylor Morrison Home Stock Performance

Shares of NYSE TMHC traded down $0.91 during mid-day trading on Thursday, hitting $68.51. The stock had a trading volume of 32,010 shares, compared to its average volume of 792,890. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.69 and a current ratio of 6.24. The company has a 50 day moving average of $67.94 and a two-hundred day moving average of $61.93. Taylor Morrison Home Co. has a twelve month low of $37.64 and a twelve month high of $71.95. The firm has a market cap of $7.25 billion, a PE ratio of 9.93 and a beta of 1.96.

Taylor Morrison Home (NYSE:TMHCGet Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The construction company reported $2.37 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.31. The company had revenue of $2.12 billion for the quarter, compared to the consensus estimate of $1.96 billion. Taylor Morrison Home had a return on equity of 15.91% and a net margin of 10.39%. The firm’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period last year, the firm earned $1.62 EPS. Research analysts predict that Taylor Morrison Home Co. will post 8.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TMHC has been the subject of several analyst reports. StockNews.com upgraded Taylor Morrison Home from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. Raymond James reiterated an “outperform” rating and set a $84.00 price objective (up previously from $81.00) on shares of Taylor Morrison Home in a report on Tuesday. Zelman & Associates upgraded Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a report on Monday, August 12th. Barclays increased their price objective on Taylor Morrison Home from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Finally, Wedbush raised Taylor Morrison Home from a “neutral” rating to an “outperform” rating and upped their target price for the company from $65.00 to $85.00 in a research report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $77.33.

Check Out Our Latest Stock Analysis on TMHC

About Taylor Morrison Home

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Taylor Morrison Home (NYSE:TMHC)

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