BTC Capital Management Inc. Invests $367,000 in Taylor Morrison Home Co. (NYSE:TMHC)

BTC Capital Management Inc. acquired a new position in Taylor Morrison Home Co. (NYSE:TMHC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 5,903 shares of the construction company’s stock, valued at approximately $367,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank acquired a new stake in Taylor Morrison Home during the fourth quarter worth about $63,137,000. Assenagon Asset Management S.A. grew its holdings in shares of Taylor Morrison Home by 3,268.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 452,087 shares of the construction company’s stock worth $24,119,000 after purchasing an additional 438,664 shares in the last quarter. Assetmark Inc. increased its position in shares of Taylor Morrison Home by 99.3% during the fourth quarter. Assetmark Inc. now owns 786,812 shares of the construction company’s stock valued at $41,976,000 after purchasing an additional 391,964 shares during the period. Franklin Resources Inc. raised its stake in shares of Taylor Morrison Home by 203.9% in the fourth quarter. Franklin Resources Inc. now owns 418,851 shares of the construction company’s stock valued at $22,346,000 after purchasing an additional 281,017 shares in the last quarter. Finally, Penn Capital Management Company LLC acquired a new position in shares of Taylor Morrison Home in the fourth quarter valued at $13,236,000. Institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling at Taylor Morrison Home

In other Taylor Morrison Home news, CEO Sheryl Palmer sold 100,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $61.70, for a total transaction of $6,170,000.00. Following the completion of the sale, the chief executive officer now directly owns 19,211 shares of the company’s stock, valued at approximately $1,185,318.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director William H. Lyon sold 153,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $62.32, for a total value of $9,534,960.00. Following the transaction, the director now directly owns 40,570 shares in the company, valued at approximately $2,528,322.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sheryl Palmer sold 100,000 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $61.70, for a total value of $6,170,000.00. Following the completion of the transaction, the chief executive officer now directly owns 19,211 shares in the company, valued at approximately $1,185,318.70. The disclosure for this sale can be found here. Corporate insiders own 3.50% of the company’s stock.

Taylor Morrison Home Stock Performance

NYSE TMHC opened at $55.31 on Friday. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 7.91 and a beta of 1.93. The company has a current ratio of 6.16, a quick ratio of 0.91 and a debt-to-equity ratio of 0.39. Taylor Morrison Home Co. has a 1-year low of $37.23 and a 1-year high of $62.64. The company has a 50 day moving average of $56.98 and a 200-day moving average of $55.54.

Taylor Morrison Home (NYSE:TMHC) last announced its earnings results on Tuesday, April 30th. The construction company reported $1.75 EPS for the quarter, topping the consensus estimate of $1.57 by $0.18. Taylor Morrison Home had a return on equity of 15.75% and a net margin of 10.30%. The company had revenue of $1.70 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same quarter in the prior year, the business earned $1.74 earnings per share. The business’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities analysts forecast that Taylor Morrison Home Co. will post 7.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on TMHC. Zelman & Associates upgraded shares of Taylor Morrison Home from an “underperform” rating to a “neutral” rating in a research note on Friday, April 12th. Wedbush reissued an “outperform” rating and issued a $61.00 price target on shares of Taylor Morrison Home in a research report on Thursday, May 30th. StockNews.com raised Taylor Morrison Home from a “hold” rating to a “buy” rating in a report on Monday, June 10th. Finally, Royal Bank of Canada increased their target price on Taylor Morrison Home from $61.00 to $63.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $59.40.

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.