QRG Capital Management Inc. Decreases Stake in Taylor Morrison Home Corporation $TMHC

QRG Capital Management Inc. lessened its position in shares of Taylor Morrison Home Corporation (NYSE:TMHC) by 72.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,985 shares of the construction company’s stock after selling 13,137 shares during the period. QRG Capital Management Inc.’s holdings in Taylor Morrison Home were worth $329,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of TMHC. Norges Bank acquired a new position in shares of Taylor Morrison Home during the second quarter worth $93,627,000. Long Pond Capital LP boosted its position in shares of Taylor Morrison Home by 132.4% during the 2nd quarter. Long Pond Capital LP now owns 1,561,586 shares of the construction company’s stock worth $95,913,000 after acquiring an additional 889,616 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Taylor Morrison Home by 118.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,273,418 shares of the construction company’s stock worth $77,933,000 after acquiring an additional 689,286 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Taylor Morrison Home in the 3rd quarter valued at about $38,189,000. Finally, Balyasny Asset Management L.P. raised its position in shares of Taylor Morrison Home by 40.4% during the 2nd quarter. Balyasny Asset Management L.P. now owns 784,419 shares of the construction company’s stock worth $48,179,000 after acquiring an additional 225,625 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Taylor Morrison Home Stock Down 1.7%

TMHC stock opened at $62.21 on Friday. The company has a market cap of $6.08 billion, a price-to-earnings ratio of 7.50 and a beta of 1.59. The company has a fifty day moving average price of $61.31 and a 200 day moving average price of $63.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.02 and a quick ratio of 1.02. Taylor Morrison Home Corporation has a 12 month low of $51.90 and a 12 month high of $72.50.

Taylor Morrison Home (NYSE:TMHC) last posted its quarterly earnings data on Wednesday, October 22nd. The construction company reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.18. Taylor Morrison Home had a net margin of 10.16% and a return on equity of 15.23%. The company had revenue of $2.10 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same period in the previous year, the business posted $2.40 earnings per share. Taylor Morrison Home’s quarterly revenue was down 1.2% on a year-over-year basis. Sell-side analysts expect that Taylor Morrison Home Corporation will post 8.93 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TMHC shares. Citigroup began coverage on Taylor Morrison Home in a report on Wednesday, January 7th. They issued an “outperform” rating for the company. Citizens Jmp assumed coverage on shares of Taylor Morrison Home in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $95.00 target price for the company. Barclays reaffirmed an “overweight” rating and issued a $71.00 target price on shares of Taylor Morrison Home in a research report on Monday, December 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Taylor Morrison Home in a research report on Monday, December 29th. Finally, Bank of America reaffirmed a “neutral” rating and set a $70.00 price objective (up previously from $68.00) on shares of Taylor Morrison Home in a report on Friday, January 16th. Eight equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $77.14.

Taylor Morrison Home Company Profile

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.