Taylor Morrison Home Corporation $TMHC Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has reduced its stake in Taylor Morrison Home Corporation by 32.4%, now holding approximately $71.28 million worth of shares.
• Institutional investors own a significant 95.16% of Taylor Morrison Home's stock, with several hedge funds increasing their holdings during the last quarter.
• Taylor Morrison Home recently reported earnings of $2.02 per share, beating analyst expectations and reflecting a year-over-year revenue increase of 2.0%.

Alliancebernstein L.P. trimmed its position in Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 32.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,187,179 shares of the construction company's stock after selling 569,665 shares during the period. Alliancebernstein L.P. owned approximately 1.18% of Taylor Morrison Home worth $71,278,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of TMHC. Nuveen LLC purchased a new stake in shares of Taylor Morrison Home in the first quarter valued at about $51,329,000. Long Pond Capital LP acquired a new position in Taylor Morrison Home during the 1st quarter worth approximately $40,345,000. Junto Capital Management LP purchased a new position in shares of Taylor Morrison Home during the 1st quarter worth approximately $34,007,000. Victory Capital Management Inc. raised its stake in shares of Taylor Morrison Home by 197.2% during the 1st quarter. Victory Capital Management Inc. now owns 793,987 shares of the construction company's stock worth $47,671,000 after buying an additional 526,819 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Taylor Morrison Home by 80.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 912,064 shares of the construction company's stock valued at $54,760,000 after buying an additional 405,875 shares during the period. Hedge funds and other institutional investors own 95.16% of the company's stock.

Insider Activity at Taylor Morrison Home

In other news, CEO Sheryl Palmer sold 25,000 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $70.20, for a total value of $1,755,000.00. Following the sale, the chief executive officer directly owned 383,988 shares in the company, valued at $26,955,957.60. This represents a 6.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Curtis Vanhyfte sold 9,754 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $65.22, for a total transaction of $636,155.88. Following the completion of the transaction, the chief financial officer directly owned 14,163 shares of the company's stock, valued at $923,710.86. The trade was a 40.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,349 shares of company stock valued at $3,720,490 over the last 90 days. Insiders own 1.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TMHC shares. Seaport Res Ptn raised Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. Wall Street Zen downgraded shares of Taylor Morrison Home from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $76.88.

Taylor Morrison Home Price Performance

Shares of Taylor Morrison Home stock traded down $1.44 on Friday, hitting $69.69. The company's stock had a trading volume of 1,231,616 shares, compared to its average volume of 1,059,592. The company has a market capitalization of $6.99 billion, a P/E ratio of 8.05 and a beta of 1.58. Taylor Morrison Home Corporation has a 52-week low of $51.90 and a 52-week high of $75.49. The firm has a fifty day moving average price of $65.66 and a 200-day moving average price of $61.20. The company has a quick ratio of 0.74, a current ratio of 6.54 and a debt-to-equity ratio of 0.35.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The construction company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.08. Taylor Morrison Home had a net margin of 10.72% and a return on equity of 16.22%. The firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period last year, the firm posted $1.86 EPS. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts expect that Taylor Morrison Home Corporation will post 8.93 earnings per share for the current fiscal year.

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.