Cannell & Spears LLC Invests $10.43 Million in Taylor Morrison Home Corporation $TMHC

Cannell & Spears LLC bought a new stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 158,045 shares of the construction company’s stock, valued at approximately $10,433,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Taylor Morrison Home by 5.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 299,888 shares of the construction company’s stock worth $18,005,000 after buying an additional 16,379 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Taylor Morrison Home in the second quarter worth about $869,000. Allworth Financial LP increased its position in shares of Taylor Morrison Home by 305.4% in the second quarter. Allworth Financial LP now owns 1,346 shares of the construction company’s stock worth $83,000 after acquiring an additional 1,014 shares in the last quarter. Vise Technologies Inc. purchased a new position in shares of Taylor Morrison Home in the second quarter worth approximately $372,000. Finally, Bailard Inc. raised its holdings in shares of Taylor Morrison Home by 5.7% during the second quarter. Bailard Inc. now owns 11,200 shares of the construction company’s stock valued at $688,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on TMHC. Citizens Jmp started coverage on shares of Taylor Morrison Home in a research report on Wednesday, January 7th. They issued a “market outperform” rating and a $95.00 price target for the company. Barclays lowered their price objective on shares of Taylor Morrison Home from $71.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. Weiss Ratings downgraded shares of Taylor Morrison Home from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, February 20th. Bank of America reaffirmed a “neutral” rating on shares of Taylor Morrison Home in a research report on Tuesday, March 3rd. Finally, Zacks Research downgraded Taylor Morrison Home from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.29.

Taylor Morrison Home Stock Performance

TMHC stock opened at $59.15 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.55 and a current ratio of 7.31. The stock has a market cap of $5.70 billion, a P/E ratio of 7.62, a P/E/G ratio of 8.13 and a beta of 1.58. The firm has a 50 day simple moving average of $63.66 and a 200 day simple moving average of $63.19. Taylor Morrison Home Corporation has a 52 week low of $51.90 and a 52 week high of $72.50.

About Taylor Morrison Home

Taylor Morrison Home Corporation (NYSE:TMHC) is a leading national homebuilder and developer specializing in the design, construction and sale of single-family detached and attached homes. The company’s portfolio spans entry-level, first-time, move-up and active-adult segments, offering buyers a diverse array of architectural styles, floor plans and personalized design options. Through its vertically integrated model, Taylor Morrison manages land acquisition, community development, construction and sales to deliver quality homes and customer-focused experiences across its markets.

The company’s heritage traces back to Morrison Homes, founded in 1977, and Taylor Woodrow, established in 1921 in the United Kingdom.