Oppenheimer & Co. Inc. Sells 8,068 Shares of Taylor Morrison Home Co. (NYSE:TMHC)

Oppenheimer & Co. Inc. lessened its stake in shares of Taylor Morrison Home Co. (NYSE:TMHC) by 21.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,145 shares of the construction company’s stock after selling 8,068 shares during the period. Oppenheimer & Co. Inc.’s holdings in Taylor Morrison Home were worth $2,048,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. V Square Quantitative Management LLC bought a new position in shares of Taylor Morrison Home in the third quarter worth $29,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Taylor Morrison Home in the 2nd quarter valued at about $31,000. Harbor Capital Advisors Inc. acquired a new position in shares of Taylor Morrison Home in the 3rd quarter valued at approximately $34,000. UMB Bank n.a. lifted its holdings in shares of Taylor Morrison Home by 263.9% during the 3rd quarter. UMB Bank n.a. now owns 535 shares of the construction company’s stock worth $38,000 after acquiring an additional 388 shares during the period. Finally, Ashton Thomas Private Wealth LLC acquired a new stake in shares of Taylor Morrison Home during the 2nd quarter worth approximately $100,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have commented on TMHC. Raymond James restated an “outperform” rating and set a $84.00 price objective (up from $81.00) on shares of Taylor Morrison Home in a research report on Tuesday, October 29th. Zelman & Associates upgraded Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a research report on Monday, August 12th. BTIG Research lifted their target price on Taylor Morrison Home from $78.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Wedbush raised shares of 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, Royal Bank of Canada lifted their price target on shares of Taylor Morrison Home from $74.00 to $77.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.33.

Taylor Morrison Home Stock Performance

Taylor Morrison Home stock opened at $70.02 on Friday. The business has a 50 day moving average of $68.99 and a 200-day moving average of $63.14. The company has a market capitalization of $7.25 billion, a P/E ratio of 9.26 and a beta of 1.96. Taylor Morrison Home Co. has a 1 year low of $44.32 and a 1 year high of $74.69. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.24 and a quick ratio of 0.69.

Taylor Morrison Home (NYSE:TMHC) last announced 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. The firm had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.96 billion. Taylor Morrison Home had a net margin of 10.39% and a return on equity of 15.91%. The company’s revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.62 EPS. On average, equities research analysts predict that Taylor Morrison Home Co. will post 8.44 earnings per share for the current year.

Insider Buying and Selling

In other Taylor Morrison Home news, EVP Darrell Sherman sold 26,757 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $70.00, for a total transaction of $1,872,990.00. Following the completion of the sale, the executive vice president now owns 109,217 shares of the company’s stock, valued at approximately $7,645,190. This represents a 19.68 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director William H. Lyon sold 9,075 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $72.08, for a total transaction of $654,126.00. Following the completion of the transaction, the director now owns 2,136,241 shares in the company, valued at $153,980,251.28. This trade represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 104,337 shares of company stock valued at $7,356,683 in the last three months. Insiders own 3.50% of the company’s stock.

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.