SummerHaven Investment Management LLC Increases Stock Holdings in Taylor Morrison Home Corporation $TMHC

SummerHaven Investment Management LLC grew its stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC) by 1.8% during the second quarter, Holdings Channel reports. The firm owned 14,467 shares of the construction company’s stock after purchasing an additional 249 shares during the period. SummerHaven Investment Management LLC’s holdings in Taylor Morrison Home were worth $889,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TMHC. GAMMA Investing LLC raised its stake in Taylor Morrison Home by 193.0% during the 1st quarter. GAMMA Investing LLC now owns 674 shares of the construction company’s stock worth $40,000 after acquiring an additional 444 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Taylor Morrison Home by 49.5% during the 1st quarter. Farther Finance Advisors LLC now owns 791 shares of the construction company’s stock worth $48,000 after acquiring an additional 262 shares in the last quarter. Harbor Capital Advisors Inc. raised its stake in Taylor Morrison Home by 50.2% during the 1st quarter. Harbor Capital Advisors Inc. now owns 844 shares of the construction company’s stock worth $51,000 after acquiring an additional 282 shares in the last quarter. Parallel Advisors LLC raised its stake in Taylor Morrison Home by 29.9% during the 2nd quarter. Parallel Advisors LLC now owns 882 shares of the construction company’s stock worth $54,000 after acquiring an additional 203 shares in the last quarter. Finally, Fifth Third Bancorp raised its stake in Taylor Morrison Home by 27.8% during the 1st quarter. Fifth Third Bancorp now owns 1,034 shares of the construction company’s stock worth $62,000 after acquiring an additional 225 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Bank of America lifted their price target on shares of Taylor Morrison Home from $72.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Seaport Res Ptn upgraded shares of Taylor Morrison Home from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 23rd. Finally, Wall Street Zen lowered shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a research note on Sunday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $77.50.

Insider Activity

In other news, CFO Curtis Vanhyfte sold 5,082 shares of Taylor Morrison Home stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $69.97, for a total value of $355,587.54. Following the sale, the chief financial officer owned 11,742 shares of the company’s stock, valued at $821,587.74. The trade was a 30.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Sheryl Palmer sold 13,513 shares of Taylor Morrison Home stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $72.06, for a total transaction of $973,746.78. Following the completion of the sale, the chief executive officer directly owned 370,475 shares in the company, valued at approximately $26,696,428.50. The trade was a 3.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 67,351 shares of company stock valued at $4,700,630 over the last quarter. Corporate insiders own 1.40% of the company’s stock.

Taylor Morrison Home Trading Up 1.8%

Shares of Taylor Morrison Home stock opened at $66.25 on Monday. The company has a market capitalization of $6.65 billion, a P/E ratio of 7.65 and a beta of 1.58. The company’s fifty day moving average is $66.36 and its two-hundred day moving average is $61.65. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 6.54. Taylor Morrison Home Corporation has a 1 year low of $51.90 and a 1 year high of $75.49.

Taylor Morrison Home (NYSE:TMHC) last issued its earnings results on Wednesday, July 23rd. The construction company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.08. The business had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.93 billion. Taylor Morrison Home had a net margin of 10.72% and a return on equity of 16.22%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.86 earnings per share. Analysts forecast that Taylor Morrison Home Corporation will post 8.93 earnings per share for the current year.

About Taylor Morrison Home

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.