Exchange Traded Concepts LLC Grows Holdings in Taylor Morrison Home Corporation $TMHC

Exchange Traded Concepts LLC grew its position in shares of Taylor Morrison Home Corporation (NYSE:TMHC) by 180.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 50,644 shares of the construction company’s stock after purchasing an additional 32,608 shares during the period. Exchange Traded Concepts LLC owned 0.05% of Taylor Morrison Home worth $3,343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Atlantic Union Bankshares Corp purchased a new position in Taylor Morrison Home during the second quarter worth about $28,000. AlphaCore Capital LLC acquired a new stake in Taylor Morrison Home in the second quarter valued at $37,000. Parallel Advisors LLC increased its holdings in Taylor Morrison Home by 29.9% in the second quarter. Parallel Advisors LLC now owns 882 shares of the construction company’s stock valued at $54,000 after buying an additional 203 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Taylor Morrison Home by 406.8% in the second quarter. EverSource Wealth Advisors LLC now owns 897 shares of the construction company’s stock worth $55,000 after purchasing an additional 720 shares during the period. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Taylor Morrison Home by 30.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 899 shares of the construction company’s stock worth $55,000 after acquiring an additional 211 shares during the period. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Taylor Morrison Home Stock Up 1.1%

Shares of Taylor Morrison Home stock opened at $59.49 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.02 and a quick ratio of 1.02. Taylor Morrison Home Corporation has a 1-year low of $51.90 and a 1-year high of $72.50. The business’s fifty day moving average price is $60.63 and its two-hundred day moving average price is $63.12. The company has a market capitalization of $5.81 billion, a P/E ratio of 7.17 and a beta of 1.57.

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TMHC shares. Wedbush reaffirmed an “outperform” rating and set a $85.00 target price on shares of Taylor Morrison Home in a report on Thursday, October 23rd. Bank of America reduced their price objective on Taylor Morrison Home from $75.00 to $72.00 and set a “buy” rating for the company in a research report on Friday, October 10th. Royal Bank Of Canada dropped their target price on Taylor Morrison Home from $75.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. Zacks Research upgraded Taylor Morrison Home from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Finally, Barclays restated an “overweight” rating and set a $71.00 price target on shares of Taylor Morrison Home in a research report on Monday, December 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Taylor Morrison Home currently has a consensus rating of “Buy” and an average target price of $75.57.

Taylor Morrison Home Company Profile

Taylor Morrison Home Corporation (NYSE:TMHC) is a leading national homebuilder and developer specializing in the design, construction and sale of single-family detached and attached homes. The company’s portfolio spans entry-level, first-time, move-up and active-adult segments, offering buyers a diverse array of architectural styles, floor plans and personalized design options. Through its vertically integrated model, Taylor Morrison manages land acquisition, community development, construction and sales to deliver quality homes and customer-focused experiences across its markets.

The company’s heritage traces back to Morrison Homes, founded in 1977, and Taylor Woodrow, established in 1921 in the United Kingdom.