Citigroup Inc. Purchases 65,252 Shares of Taylor Morrison Home Co. (NYSE:TMHC)

Citigroup Inc. grew its position in shares of Taylor Morrison Home Co. (NYSE:TMHC) by 61.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 170,960 shares of the construction company’s stock after acquiring an additional 65,252 shares during the quarter. Citigroup Inc. owned about 0.17% of Taylor Morrison Home worth $12,012,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its position in Taylor Morrison Home by 3.5% during the third quarter. Principal Financial Group Inc. now owns 2,051,580 shares of the construction company’s stock valued at $144,144,000 after purchasing an additional 69,222 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Taylor Morrison Home by 26.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,362,020 shares of the construction company’s stock valued at $95,696,000 after acquiring an additional 282,227 shares during the last quarter. Bank of New York Mellon Corp grew its position in Taylor Morrison Home by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 1,066,470 shares of the construction company’s stock worth $59,125,000 after acquiring an additional 4,638 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Taylor Morrison Home by 271.0% during the third quarter. Assenagon Asset Management S.A. now owns 896,032 shares of the construction company’s stock worth $62,955,000 after acquiring an additional 654,541 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Taylor Morrison Home by 7.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 846,270 shares of the construction company’s stock valued at $59,459,000 after purchasing an additional 60,021 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Taylor Morrison Home Stock Down 0.2 %

Shares of NYSE:TMHC opened at $74.01 on Friday. The business’s 50 day moving average is $69.78 and its 200 day moving average is $64.01. The stock has a market cap of $7.66 billion, a P/E ratio of 9.79 and a beta of 1.96. Taylor Morrison Home Co. has a 52-week low of $44.32 and a 52-week high of $75.49. The company has a quick ratio of 0.69, a current ratio of 6.24 and a debt-to-equity ratio of 0.37.

Taylor Morrison Home (NYSE:TMHC) last announced its quarterly earnings results on Wednesday, October 23rd. The construction company reported $2.37 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 firm had revenue of $2.12 billion for the quarter, compared to analyst estimates of $1.96 billion. During the same quarter last year, the firm posted $1.62 earnings per share. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. Sell-side analysts predict that Taylor Morrison Home Co. will post 8.44 EPS for the current year.

Insider Activity

In related news, EVP Darrell Sherman sold 68,433 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $70.50, for a total transaction of $4,824,526.50. Following the sale, the executive vice president now owns 109,217 shares of the company’s stock, valued at $7,699,798.50. This trade represents a 38.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director William H. Lyon sold 9,075 shares of Taylor Morrison Home stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $72.08, for a total value 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. In the last quarter, insiders sold 128,621 shares of company stock worth $9,164,869. 3.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TMHC shares. StockNews.com upgraded Taylor Morrison Home from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. Barclays raised their target price on shares of Taylor Morrison Home from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Zelman & Associates upgraded shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a report on Monday, August 12th. BTIG Research raised their price objective on shares of Taylor Morrison Home from $78.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Finally, Wedbush raised Taylor Morrison Home from a “neutral” rating to an “outperform” rating and upped their target price for the company from $65.00 to $85.00 in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Taylor Morrison Home currently has an average rating of “Moderate Buy” and an average price target of $77.33.

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.