OP Asset Management Ltd Takes Position in Taylor Morrison Home Corporation $TMHC

OP Asset Management Ltd acquired a new position in shares of Taylor Morrison Home Corporation (NYSE:TMHC) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 14,333 shares of the construction company’s stock, valued at approximately $835,000.

A number of other institutional investors also recently bought and sold shares of TMHC. AQR Capital Management LLC grew its stake in shares of Taylor Morrison Home by 67.6% in the 4th quarter. AQR Capital Management LLC now owns 3,710,885 shares of the construction company’s stock valued at $218,274,000 after buying an additional 1,497,329 shares during the period. Norges Bank purchased a new stake in shares of Taylor Morrison Home during the 4th quarter valued at approximately $84,994,000. Assenagon Asset Management S.A. raised its position in shares of Taylor Morrison Home by 96.1% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,554,498 shares of the construction company’s stock valued at $148,774,000 after buying an additional 1,251,558 shares during the period. M&T Bank Corp lifted its holdings in Taylor Morrison Home by 28,246.3% in the fourth quarter. M&T Bank Corp now owns 1,058,169 shares of the construction company’s stock valued at $62,294,000 after acquiring an additional 1,054,436 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in Taylor Morrison Home by 360.1% in the third quarter. Alliancebernstein L.P. now owns 1,284,221 shares of the construction company’s stock valued at $84,771,000 after acquiring an additional 1,005,116 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Taylor Morrison Home Stock Down 0.0%

Shares of NYSE TMHC opened at $71.78 on Tuesday. The business’s fifty day simple moving average is $64.66 and its 200-day simple moving average is $62.72. The company has a current ratio of 7.66, a quick ratio of 1.45 and a debt-to-equity ratio of 0.37. Taylor Morrison Home Corporation has a 12-month low of $54.15 and a 12-month high of $72.50. The stock has a market cap of $6.71 billion, a P/E ratio of 10.71, a PEG ratio of 1.69 and a beta of 1.47.

Taylor Morrison Home (NYSE:TMHC) last posted its quarterly earnings results on Wednesday, April 22nd. The construction company reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.30. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.33 billion. Taylor Morrison Home had a return on equity of 11.48% and a net margin of 8.77%.Taylor Morrison Home’s revenue for the quarter was down 26.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.07 EPS. As a group, equities analysts predict that Taylor Morrison Home Corporation will post 5.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on TMHC shares. Zacks Research raised Taylor Morrison Home from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 22nd. Citigroup cut shares of Taylor Morrison Home from an “outperform” rating to a “market perform” rating in a research report on Monday, June 1st. Bank of America lowered their target price on shares of Taylor Morrison Home from $72.00 to $68.00 and set a “neutral” rating for the company in a research note on Monday, April 20th. Raymond James Financial cut shares of Taylor Morrison Home from an “outperform” rating to a “market perform” rating in a research report on Friday. Finally, Wolfe Research downgraded shares of Taylor Morrison Home from an “outperform” rating to a “peer perform” rating in a report on Wednesday, June 10th. Three equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $76.86.

Taylor Morrison Home 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.