Perbak Capital Partners LLP Invests $341,000 in Taylor Morrison Home Corporation $TMHC

Perbak Capital Partners LLP acquired a new position in Taylor Morrison Home Corporation (NYSE:TMHC) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 5,679 shares of the construction company’s stock, valued at approximately $341,000.

A number of other hedge funds have also recently modified their holdings of TMHC. Nuveen LLC purchased a new position in shares of Taylor Morrison Home during the first quarter valued at approximately $51,329,000. Long Pond Capital LP bought a new stake in Taylor Morrison Home in the first quarter worth $40,345,000. Junto Capital Management LP bought a new position in shares of Taylor Morrison Home during the first quarter valued at $34,007,000. Victory Capital Management Inc. raised its position in shares of Taylor Morrison Home by 197.2% in the 1st quarter. Victory Capital Management Inc. now owns 793,987 shares of the construction company’s stock worth $47,671,000 after purchasing an additional 526,819 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in Taylor Morrison Home by 80.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 912,064 shares of the construction company’s stock worth $54,760,000 after purchasing an additional 405,875 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Taylor Morrison Home Price Performance

Shares of NYSE:TMHC opened at $67.32 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 6.54 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $6.76 billion, a PE ratio of 7.77 and a beta of 1.58. The firm’s 50 day moving average price is $64.32 and its 200-day moving average price is $60.72. Taylor Morrison Home Corporation has a twelve month low of $51.90 and a twelve month high of $75.49.

Taylor Morrison Home (NYSE:TMHC) last announced its earnings results on Wednesday, July 23rd. The construction company reported $2.02 EPS for the quarter, topping analysts’ consensus estimates of $1.94 by $0.08. The company had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Taylor Morrison Home had a return on equity of 16.22% and a net margin of 10.72%.Taylor Morrison Home’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $1.86 EPS. Equities research analysts expect that Taylor Morrison Home Corporation will post 8.93 EPS for the current year.

Insider Activity

In other news, CEO Sheryl Palmer sold 25,000 shares of Taylor Morrison Home stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $70.20, for a total transaction of $1,755,000.00. Following the completion of the sale, the chief executive officer owned 383,988 shares of the company’s stock, valued at approximately $26,955,957.60. The trade was a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Curtis Vanhyfte sold 9,754 shares of the company’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $65.22, for a total transaction of $636,155.88. Following the completion of the sale, the chief financial officer directly owned 14,163 shares of the company’s stock, valued at $923,710.86. The trade was a 40.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,836 shares of company stock worth $2,746,743 in the last ninety days. 1.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TMHC. Bank of America initiated coverage on shares of Taylor Morrison Home in a research note on Monday, May 5th. They issued a “buy” rating and a $70.00 target price on the stock. Wall Street Zen downgraded Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Sunday, June 1st. Finally, Seaport Res Ptn upgraded Taylor Morrison Home from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 23rd. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $76.88.

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.