JPMorgan Chase & Co. Cuts Stake in Taylor Morrison Home Corporation $TMHC

JPMorgan Chase & Co. lessened its holdings in Taylor Morrison Home Corporation (NYSE:TMHC) by 24.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 558,839 shares of the construction company’s stock after selling 180,033 shares during the quarter. JPMorgan Chase & Co. owned 0.56% of Taylor Morrison Home worth $34,324,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Avantax Advisory Services Inc. grew its position in Taylor Morrison Home by 3.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,891 shares of the construction company’s stock worth $354,000 after acquiring an additional 201 shares during the last quarter. Natixis Advisors LLC boosted its stake in shares of Taylor Morrison Home by 35.4% during the first quarter. Natixis Advisors LLC now owns 27,035 shares of the construction company’s stock valued at $1,623,000 after purchasing an additional 7,074 shares during the period. US Bancorp DE grew its holdings in shares of Taylor Morrison Home by 21.4% in the first quarter. US Bancorp DE now owns 5,002 shares of the construction company’s stock worth $300,000 after purchasing an additional 881 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Taylor Morrison Home by 5.6% in the first quarter. PNC Financial Services Group Inc. now owns 4,920 shares of the construction company’s stock worth $295,000 after purchasing an additional 262 shares during the last quarter. Finally, Deutsche Bank AG increased its stake in shares of Taylor Morrison Home by 9.4% in the first quarter. Deutsche Bank AG now owns 197,002 shares of the construction company’s stock worth $11,828,000 after buying an additional 16,979 shares during the period. 95.16% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Anne L. Mariucci sold 14,002 shares of the stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $70.00, for a total value of $980,140.00. Following the completion of the transaction, the director directly owned 48,191 shares in the company, valued at $3,373,370. This trade represents a 22.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sheryl Palmer sold 13,513 shares of the business’s stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $72.06, for a total transaction of $973,746.78. Following the sale, the chief executive officer directly owned 370,475 shares in the company, valued at $26,696,428.50. The trade was a 3.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 1.40% of the company’s stock.

Taylor Morrison Home Stock Performance

Taylor Morrison Home stock opened at $63.05 on Wednesday. Taylor Morrison Home Corporation has a fifty-two week low of $51.90 and a fifty-two week high of $73.58. The stock’s 50 day simple moving average is $61.73 and its two-hundred day simple moving average is $62.72. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.02 and a current ratio of 7.02. The stock has a market cap of $6.16 billion, a price-to-earnings ratio of 7.60 and a beta of 1.58.

Taylor Morrison Home (NYSE:TMHC) last released its earnings results on Wednesday, October 22nd. The construction company reported $2.11 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.18. The company had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Taylor Morrison Home had a return on equity of 15.23% and a net margin of 10.16%.The firm’s revenue for the quarter was down 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.40 EPS. As a group, analysts expect that Taylor Morrison Home Corporation will post 8.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Wedbush reissued an “outperform” rating and issued a $85.00 price target on shares of Taylor Morrison Home in a report on Thursday, October 23rd. Royal Bank Of Canada cut their target price on Taylor Morrison Home from $75.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Weiss Ratings upgraded Taylor Morrison Home from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Finally, Bank of America dropped their price objective on Taylor Morrison Home from $75.00 to $72.00 and set a “buy” rating for the company in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average target price of $75.29.

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.