Bank of New York Mellon Corp Trims Stock Position in Taylor Morrison Home Corporation (NYSE:TMHC)

Bank of New York Mellon Corp cut its holdings in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 810,849 shares of the construction company's stock after selling 43,546 shares during the period. Bank of New York Mellon Corp owned approximately 0.80% of Taylor Morrison Home worth $48,683,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in TMHC. Morse Asset Management Inc bought a new stake in Taylor Morrison Home during the 4th quarter worth approximately $29,000. GAMMA Investing LLC boosted its position in shares of Taylor Morrison Home by 193.0% during the first quarter. GAMMA Investing LLC now owns 674 shares of the construction company's stock valued at $40,000 after buying an additional 444 shares during the last quarter. Quarry LP grew its holdings in Taylor Morrison Home by 202.1% during the fourth quarter. Quarry LP now owns 704 shares of the construction company's stock worth $43,000 after buying an additional 471 shares in the last quarter. Farther Finance Advisors LLC raised its position in Taylor Morrison Home by 49.5% in the 1st quarter. Farther Finance Advisors LLC now owns 791 shares of the construction company's stock valued at $48,000 after buying an additional 262 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in Taylor Morrison Home by 50.2% in the 1st quarter. Harbor Capital Advisors Inc. now owns 844 shares of the construction company's stock valued at $51,000 after buying an additional 282 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Taylor Morrison Home Stock Performance

NYSE TMHC traded down $0.13 during trading on Monday, hitting $64.60. 559,942 shares of the company's stock traded hands, compared to its average volume of 1,035,831. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.86 and a current ratio of 6.45. The stock has a market capitalization of $6.48 billion, a price-to-earnings ratio of 7.51 and a beta of 1.57. Taylor Morrison Home Corporation has a 12-month low of $51.90 and a 12-month high of $75.49. The business has a 50 day moving average of $59.54 and a 200-day moving average of $60.35.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The construction company reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.85 by $0.33. Taylor Morrison Home had a net margin of 10.84% and a return on equity of 16.72%. The company had revenue of $1.90 billion for the quarter, compared to analyst estimates of $1.81 billion. During the same quarter in the previous year, the firm posted $1.75 earnings per share. The company's quarterly revenue was up 11.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Taylor Morrison Home Corporation will post 8.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wedbush reaffirmed an "outperform" rating and set a $85.00 price objective on shares of Taylor Morrison Home in a report on Wednesday, April 23rd. Bank of America started coverage on shares of Taylor Morrison Home in a report on Monday, May 5th. They set a "buy" rating and a $70.00 price target on the stock. Wall Street Zen lowered shares of Taylor Morrison Home from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Barclays set a $69.00 target price on shares of Taylor Morrison Home and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, BTIG Research set a $75.00 target price on Taylor Morrison Home and gave the company a "buy" rating in a report on Wednesday, April 16th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $76.88.

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.