JPMorgan Chase & Co. Decreases Position in Taylor Morrison Home Co. (NYSE:TMHC)

JPMorgan Chase & Co. cut its holdings in Taylor Morrison Home Co. (NYSE:TMHC - Free Report) by 11.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 654,460 shares of the construction company's stock after selling 85,387 shares during the quarter. JPMorgan Chase & Co. owned about 0.63% of Taylor Morrison Home worth $45,982,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. V Square Quantitative Management LLC bought a new position in shares of Taylor Morrison Home in the third quarter valued at approximately $29,000. Harbor Capital Advisors Inc. bought a new stake in Taylor Morrison Home in the third quarter valued at $34,000. UMB Bank n.a. raised its stake in Taylor Morrison Home by 263.9% during the third quarter. UMB Bank n.a. now owns 535 shares of the construction company's stock worth $38,000 after acquiring an additional 388 shares in the last quarter. Peterson Financial Group Inc. bought a new position in Taylor Morrison Home during the 3rd quarter valued at about $62,000. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Taylor Morrison Home in the 2nd quarter worth approximately $100,000. 95.16% of the stock is owned by institutional investors.

Taylor Morrison Home Stock Performance

NYSE:TMHC traded down $0.41 during mid-day trading on Monday, reaching $60.70. 616,989 shares of the company's stock were exchanged, compared to its average volume of 617,563. The firm has a market capitalization of $6.28 billion, a PE ratio of 8.03 and a beta of 2.01. Taylor Morrison Home Co. has a one year low of $50.68 and a one year high of $75.49. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.69 and a current ratio of 6.24. The business's fifty day simple moving average is $67.73 and its two-hundred day simple moving average is $65.45.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The construction company reported $2.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.31. The company had revenue of $2.12 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 26.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.62 earnings per share. Analysts anticipate that Taylor Morrison Home Co. will post 8.44 earnings per share for the current fiscal year.

Insider Activity at Taylor Morrison Home

In related news, EVP Darrell Sherman sold 26,757 shares of the company's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $70.00, for a total value of $1,872,990.00. Following the transaction, the executive vice president now owns 109,217 shares in the company, valued at approximately $7,645,190. This represents a 19.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director William H. Lyon sold 24,284 shares of the 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 transaction, the director now owns 2,045,316 shares of the company's stock, valued at $152,294,229.36. This represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 128,549 shares of company stock valued at $9,159,829. 3.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. BTIG Research raised their price objective on shares of Taylor Morrison Home from $78.00 to $86.00 and gave the company a "buy" rating in a research report on Thursday, October 24th. StockNews.com upgraded Taylor Morrison Home from a "hold" rating to a "buy" rating in a report on Thursday, October 24th. Royal Bank of Canada upped their target price on shares of Taylor Morrison Home from $74.00 to $77.00 and gave the company an "outperform" rating in a research report on Thursday, October 24th. Raymond James reissued an "outperform" rating and set a $84.00 price target (up from $81.00) on shares of Taylor Morrison Home in a research note on Tuesday, October 29th. Finally, Barclays raised shares of Taylor Morrison Home from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $75.00 to $90.00 in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Taylor Morrison Home currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.33.

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.