Assenagon Asset Management S.A. Grows Stake in Taylor Morrison Home Co. (NYSE:TMHC)

Assenagon Asset Management S.A. raised its stake in shares of Taylor Morrison Home Co. (NYSE:TMHC) by 80.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 912,064 shares of the construction company’s stock after purchasing an additional 405,875 shares during the period. Assenagon Asset Management S.A.’s holdings in Taylor Morrison Home were worth $54,760,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. lifted its position in Taylor Morrison Home by 24.0% in the fourth quarter. JPMorgan Chase & Co. now owns 811,253 shares of the construction company’s stock worth $49,657,000 after buying an additional 156,793 shares during the last quarter. Counterpoint Mutual Funds LLC lifted its stake in Taylor Morrison Home by 174.5% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 10,825 shares of the construction company’s stock worth $663,000 after purchasing an additional 6,881 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Taylor Morrison Home by 20.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,672 shares of the construction company’s stock valued at $1,877,000 after buying an additional 5,307 shares during the period. Daiwa Securities Group Inc. boosted its position in shares of Taylor Morrison Home by 22.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 14,600 shares of the construction company’s stock valued at $894,000 after buying an additional 2,700 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Taylor Morrison Home during the fourth quarter valued at approximately $5,031,000. 95.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TMHC. Bank of America assumed coverage on Taylor Morrison Home in a research note on Monday, May 5th. They set a “buy” rating and a $70.00 price target for the company. JPMorgan Chase & Co. decreased their target price on Taylor Morrison Home from $90.00 to $82.00 and set an “overweight” rating for the company in a research report on Tuesday, February 18th. Royal Bank of Canada upped their price target on shares of Taylor Morrison Home from $72.00 to $74.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Wedbush reaffirmed an “outperform” rating and set a $85.00 target price on shares of Taylor Morrison Home in a research report on Wednesday, April 23rd. Finally, Wall Street Zen downgraded shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a research note on Sunday, June 1st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $76.88.

Taylor Morrison Home Stock Performance

Shares of NYSE:TMHC opened at $58.62 on Thursday. The company has a quick ratio of 0.94, a current ratio of 6.39 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $5.88 billion, a price-to-earnings ratio of 7.08 and a beta of 1.57. The firm has a 50 day moving average of $57.44 and a 200 day moving average of $61.35. Taylor Morrison Home Co. has a 52 week low of $51.90 and a 52 week high of $75.49.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings results on Wednesday, April 23rd. The construction company reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.85 by $0.33. The business had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.81 billion. Taylor Morrison Home had a net margin of 10.81% and a return on equity of 16.50%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same period last year, the business earned $1.75 EPS. On average, sell-side analysts predict that Taylor Morrison Home Co. will post 8.93 earnings per share for the current fiscal year.

Taylor Morrison Home Company 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.