Basswood Capital Management L.L.C. Raises Holdings in Taylor Morrison Home Co. (NYSE:TMHC)

Basswood Capital Management L.L.C. boosted its stake in Taylor Morrison Home Co. (NYSE:TMHC) by 10.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 681,270 shares of the construction company’s stock after acquiring an additional 64,388 shares during the quarter. Taylor Morrison Home comprises 2.5% of Basswood Capital Management L.L.C.’s holdings, making the stock its 10th biggest position. Basswood Capital Management L.L.C.’s holdings in Taylor Morrison Home were worth $47,866,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in shares of Taylor Morrison Home in the 3rd quarter worth $29,000. Harbor Capital Advisors Inc. bought a new stake in Taylor Morrison Home in the third quarter worth about $34,000. UMB Bank n.a. raised its position in Taylor Morrison Home by 263.9% in the third quarter. UMB Bank n.a. now owns 535 shares of the construction company’s stock worth $38,000 after acquiring an additional 388 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Taylor Morrison Home in the 2nd quarter valued at about $31,000. Finally, Peterson Financial Group Inc. bought a new position in shares of Taylor Morrison Home during the 3rd quarter valued at about $62,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analysts Set New Price Targets

TMHC has been the topic of a number of research reports. Raymond James reiterated an “outperform” rating and issued a $84.00 target price (up from $81.00) on shares of Taylor Morrison Home in a report on Tuesday, October 29th. Royal Bank of Canada increased their price objective on Taylor Morrison Home from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Barclays lifted their target price on Taylor Morrison Home from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. StockNews.com raised Taylor Morrison Home from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. Finally, Wedbush raised Taylor Morrison Home from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $65.00 to $85.00 in a research note on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $77.33.

Taylor Morrison Home Stock Performance

Shares of TMHC stock opened at $73.87 on Monday. The stock’s fifty day simple moving average is $69.86 and its 200-day simple moving average is $64.16. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 9.77 and a beta of 1.96. The company has a current ratio of 6.24, a quick ratio of 0.69 and a debt-to-equity ratio of 0.37. Taylor Morrison Home Co. has a 1-year low of $44.59 and a 1-year high of $75.49.

Taylor Morrison Home (NYSE:TMHC) last issued its earnings results on Wednesday, October 23rd. The construction company reported $2.37 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.62 EPS. On average, sell-side analysts predict that Taylor Morrison Home Co. will post 8.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Darrell Sherman sold 68,433 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $70.50, for a total value of $4,824,526.50. Following the transaction, the executive vice president now owns 109,217 shares in the company, valued at approximately $7,699,798.50. This represents a 38.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director William H. Lyon sold 24,284 shares of Taylor Morrison Home stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $74.46, for a total transaction of $1,808,186.64. Following the completion of the sale, the director now owns 2,045,316 shares of the company’s stock, valued at $152,294,229.36. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 128,621 shares of company stock worth $9,164,869 in the last quarter. 3.50% of the stock is currently owned by corporate insiders.

Taylor Morrison Home 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.