Meeder Asset Management Inc. reduced its stake in shares of Taylor Morrison Home Corp (NYSE:TMHC) by 90.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,257 shares of the construction company’s stock after selling 22,015 shares during the quarter. Meeder Asset Management Inc.’s holdings in Taylor Morrison Home were worth $49,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. PEAK6 Investments LLC bought a new stake in shares of Taylor Morrison Home during the fourth quarter valued at about $2,211,000. Towle & Co. raised its stake in shares of Taylor Morrison Home by 36.6% during the fourth quarter. Towle & Co. now owns 1,427,251 shares of the construction company’s stock valued at $31,200,000 after purchasing an additional 382,250 shares in the last quarter. Amalgamated Bank raised its stake in shares of Taylor Morrison Home by 8.8% during the fourth quarter. Amalgamated Bank now owns 17,484 shares of the construction company’s stock valued at $382,000 after purchasing an additional 1,411 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Taylor Morrison Home by 36.0% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 312,662 shares of the construction company’s stock valued at $6,835,000 after purchasing an additional 82,710 shares in the last quarter. Finally, Pacitti Group Inc. bought a new stake in shares of Taylor Morrison Home during the fourth quarter valued at about $28,000. Institutional investors and hedge funds own 82.11% of the company’s stock.
TMHC has been the topic of a number of research analyst reports. Royal Bank of Canada reaffirmed a “buy” rating and set a $18.00 target price on shares of Taylor Morrison Home in a report on Thursday. B. Riley lowered their target price on Taylor Morrison Home from $33.00 to $23.00 and set a “buy” rating on the stock in a report on Tuesday, March 17th. Zacks Investment Research lowered Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Thursday, January 2nd. Barclays reaffirmed a “hold” rating and set a $18.00 target price on shares of Taylor Morrison Home in a report on Tuesday, March 17th. Finally, JPMorgan Chase & Co. lowered Taylor Morrison Home from an “overweight” rating to a “neutral” rating and set a $10.00 target price on the stock. in a report on Wednesday, March 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. Taylor Morrison Home presently has a consensus rating of “Hold” and an average price target of $20.75.
In related news, Director Peter R. Lane sold 31,848 shares of Taylor Morrison Home stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $26.59, for a total value of $846,838.32. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Gary H. Hunt sold 17,000 shares of Taylor Morrison Home stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $27.85, for a total value of $473,450.00. Following the completion of the transaction, the director now directly owns 18,410 shares in the company, valued at approximately $512,718.50. The disclosure for this sale can be found here. Insiders sold a total of 102,107 shares of company stock worth $2,810,087 in the last three months. 1.90% of the stock is currently owned by company insiders.
NYSE:TMHC traded down $0.09 during mid-day trading on Thursday, reaching $11.95. 387,474 shares of the stock were exchanged, compared to its average volume of 4,307,181. The business has a fifty day moving average price of $21.22 and a 200 day moving average price of $23.48. The firm has a market capitalization of $1.62 billion, a PE ratio of 5.04 and a beta of 0.78. Taylor Morrison Home Corp has a 1-year low of $6.39 and a 1-year high of $28.47. The company has a current ratio of 6.76, a quick ratio of 0.73 and a debt-to-equity ratio of 0.78.
Taylor Morrison Home (NYSE:TMHC) last released its earnings results on Wednesday, February 5th. The construction company reported $1.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $0.08. The firm had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.44 billion. Taylor Morrison Home had a return on equity of 12.86% and a net margin of 5.35%. Taylor Morrison Home’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.86 earnings per share. On average, sell-side analysts forecast that Taylor Morrison Home Corp will post 3.05 earnings per share for the current year.
Taylor Morrison Home Profile
Taylor Morrison Home Corporation operates as a public homebuilder in the United States. The company designs, builds, and sells single-family and multi-family attached and detached homes; and develops lifestyle and master-planned communities. It operates under the Taylor Morrison and Darling Homes brand names in Arizona, California, Colorado, Florida, Georgia, Illinois, North Carolina and Texas.
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