Red Wave Investments LLC Takes $206,000 Position in Taylor Morrison Home Co. (NYSE:TMHC)

Red Wave Investments LLC purchased a new stake in Taylor Morrison Home Co. (NYSE:TMHC) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,928 shares of the construction company’s stock, valued at approximately $206,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new position in Taylor Morrison Home in the third quarter valued at about $29,000. Harbor Capital Advisors Inc. purchased a new position in Taylor Morrison Home in the third quarter valued at about $34,000. UMB Bank n.a. boosted its holdings in Taylor Morrison Home by 263.9% in the third quarter. UMB Bank n.a. now owns 535 shares of the construction company’s stock valued at $38,000 after purchasing an additional 388 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in Taylor Morrison Home in the third quarter valued at about $62,000. Finally, Ashton Thomas Private Wealth LLC purchased a new position in Taylor Morrison Home in the second quarter valued at about $100,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insider Buying and Selling

In related news, Director William H. Lyon sold 24,284 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $74.46, for a total transaction of $1,808,186.64. Following the completion of the transaction, the director now owns 2,045,316 shares of the company’s stock, valued at approximately $152,294,229.36. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Darrell Sherman sold 26,757 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $70.00, for a total value of $1,872,990.00. Following the completion of the transaction, the executive vice president now directly owns 109,217 shares of the company’s stock, valued at approximately $7,645,190. This trade represents a 19.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 128,621 shares of company stock worth $9,164,869 in the last three months. 3.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

TMHC has been the topic of a number of research analyst reports. BTIG Research increased their target price on Taylor Morrison Home from $78.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. StockNews.com raised Taylor Morrison Home from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. Raymond James reaffirmed an “outperform” rating and set a $84.00 target price (up previously from $81.00) on shares of Taylor Morrison Home in a report on Tuesday, October 29th. Wedbush raised Taylor Morrison Home from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $65.00 to $85.00 in a report on Friday, October 25th. Finally, Zelman & Associates raised Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a report on Monday, August 12th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.33.

Taylor Morrison Home Stock Down 3.4 %

TMHC opened at $70.38 on Thursday. Taylor Morrison Home Co. has a 12 month low of $45.81 and a 12 month high of $75.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.24 and a quick ratio of 0.69. The stock has a market cap of $7.28 billion, a P/E ratio of 9.31 and a beta of 1.97. The stock’s 50 day moving average price is $70.03 and its 200 day moving average price is $64.38.

Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings results on Wednesday, October 23rd. The construction company reported $2.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.31. Taylor Morrison Home had a return on equity of 15.91% and a net margin of 10.39%. The company had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same period last year, the firm earned $1.62 EPS. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, research analysts predict that Taylor Morrison Home Co. will post 8.44 earnings per share for the current year.

Taylor Morrison Home 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.