Engineers Gate Manager LP Acquires Shares of 16,671 Taylor Morrison Home Corporation (TMHC)

Engineers Gate Manager LP acquired a new position in shares of Taylor Morrison Home Corporation (NYSE:TMHC) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 16,671 shares of the construction company’s stock, valued at approximately $408,000.

A number of other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. increased its position in Taylor Morrison Home by 72.8% during the 2nd quarter. Vanguard Group Inc. now owns 7,031,797 shares of the construction company’s stock worth $168,834,000 after buying an additional 2,962,990 shares during the period. Dimensional Fund Advisors LP increased its position in Taylor Morrison Home by 31.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 4,591,375 shares of the construction company’s stock worth $101,239,000 after buying an additional 1,089,798 shares during the period. Greenhaven Associates Inc. increased its position in Taylor Morrison Home by 6.7% during the 4th quarter. Greenhaven Associates Inc. now owns 2,695,488 shares of the construction company’s stock worth $65,959,000 after buying an additional 169,244 shares during the period. NWQ Investment Management Company LLC increased its position in Taylor Morrison Home by 2.4% during the 3rd quarter. NWQ Investment Management Company LLC now owns 2,229,932 shares of the construction company’s stock worth $49,170,000 after buying an additional 52,934 shares during the period. Finally, JPMorgan Chase & Co. increased its position in Taylor Morrison Home by 1.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,124,192 shares of the construction company’s stock worth $46,243,000 after buying an additional 37,257 shares during the period. Hedge funds and other institutional investors own 57.40% of the company’s stock.

Several research firms have weighed in on TMHC. JMP Securities upgraded Taylor Morrison Home from a “market perform” rating to an “outperform” rating and set a $31.00 price objective on the stock in a research report on Thursday, February 8th. Barclays set a $28.00 price objective on Taylor Morrison Home and gave the stock an “equal weight” rating in a research report on Thursday, February 8th. B. Riley increased their price objective on Taylor Morrison Home from $28.00 to $29.00 and gave the stock a “neutral” rating in a research report on Thursday, February 8th. UBS Group raised Taylor Morrison Home from a “neutral” rating to a “positive” rating in a report on Thursday, January 4th. Finally, Wells Fargo & Co raised Taylor Morrison Home from a “market perform” rating to an “outperform” rating and set a $32.00 target price on the stock in a report on Friday, January 5th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $28.22.

Shares of Taylor Morrison Home Corporation (NYSE:TMHC) opened at $24.44 on Thursday. The stock has a market capitalization of $2,830.00, a price-to-earnings ratio of 32.59, a PEG ratio of 0.76 and a beta of 1.44. Taylor Morrison Home Corporation has a 1-year low of $18.65 and a 1-year high of $28.42. The company has a current ratio of 6.85, a quick ratio of 0.81 and a debt-to-equity ratio of 0.63.

Taylor Morrison Home (NYSE:TMHC) last released its earnings results on Wednesday, February 7th. The construction company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.07. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.29 billion. Taylor Morrison Home had a return on equity of 5.82% and a net margin of 2.36%. Taylor Morrison Home’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. research analysts anticipate that Taylor Morrison Home Corporation will post 2.6 earnings per share for the current year.

Taylor Morrison Home announced that its board has authorized a stock repurchase plan on Wednesday, January 3rd that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

In other news, insider Group Holdings (Sbs) Advis Tpg sold 1,499,732 shares of the stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $27.14, for a total transaction of $40,702,726.48. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.40% of the company’s stock.

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About Taylor Morrison Home

Taylor Morrison Home Corporation is a homebuilder, which designs, builds and sells single-family detached and attached homes. The Company is also a land developer, with a portfolio of lifestyle and master-planned communities. Its segments include East, which includes Atlanta, Charlotte, North Florida, Raleigh, Southwest Florida and Tampa; Central, which includes Austin, Dallas, and Houston (each of the Dallas and Houston markets include both a Taylor Morrison division and a Darling Homes division); West, which includes Bay Area, Chicago, Denver, Phoenix, Sacramento and Southern California, and Mortgage Operations, which includes Taylor Morrison Home Funding, LLC (TMHF) and Inspired Title Services, LLC (Inspired Title).

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Institutional Ownership by Quarter for Taylor Morrison Home (NYSE:TMHC)

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