Primecap Management Co. CA Acquires New Shares in Taylor Morrison Home Corporation $TMHC

Primecap Management Co. CA acquired a new position in Taylor Morrison Home Corporation (NYSE:TMHC) in the 3rd quarter, Holdings Channel reports. The firm acquired 44,400 shares of the construction company’s stock, valued at approximately $2,931,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Norges Bank purchased a new stake in Taylor Morrison Home in the second quarter valued at $93,627,000. Long Pond Capital LP increased its position in shares of Taylor Morrison Home by 132.4% during the 2nd quarter. Long Pond Capital LP now owns 1,561,586 shares of the construction company’s stock worth $95,913,000 after purchasing an additional 889,616 shares during the last quarter. AQR Capital Management LLC increased its position in shares of Taylor Morrison Home by 118.0% during the 2nd quarter. AQR Capital Management LLC now owns 1,273,418 shares of the construction company’s stock worth $77,933,000 after purchasing an additional 689,286 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in Taylor Morrison Home in the 3rd quarter valued at about $38,189,000. Finally, Balyasny Asset Management L.P. lifted its position in Taylor Morrison Home by 40.4% in the second quarter. Balyasny Asset Management L.P. now owns 784,419 shares of the construction company’s stock valued at $48,179,000 after buying an additional 225,625 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on TMHC shares. Bank of America reaffirmed a “neutral” rating and set a $70.00 target price (up from $68.00) on shares of Taylor Morrison Home in a research note on Friday, January 16th. Citizens Jmp assumed coverage on shares of Taylor Morrison Home in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $95.00 price objective on the stock. Royal Bank Of Canada increased their price objective on shares of Taylor Morrison Home from $62.00 to $68.00 and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Weiss Ratings lowered Taylor Morrison Home from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Finally, Barclays decreased their price target on Taylor Morrison Home from $71.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, February 12th. Six research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Taylor Morrison Home currently has an average rating of “Moderate Buy” and a consensus target price of $77.17.

Taylor Morrison Home Trading Up 0.2%

NYSE TMHC opened at $65.95 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.55 and a current ratio of 7.31. The firm has a market cap of $6.44 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 9.19 and a beta of 1.59. The firm has a 50 day simple moving average of $63.20 and a 200-day simple moving average of $63.67. Taylor Morrison Home Corporation has a one year low of $51.90 and a one year high of $72.50.

About Taylor Morrison Home

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.