Canada Pension Plan Investment Board Has $8.06 Million Holdings in Taylor Morrison Home Corporation $TMHC

Key Points

• The Canada Pension Plan Investment Board significantly increased its stake in Taylor Morrison Home Corporation by 70.5%, owning approximately 0.13% of the company worth $8 million.
• Insider selling occurred with CEO Sheryl Palmer and CFO Curtis Vanhyfte selling shares totaling over $2.7 million during the recent quarter.
• Despite insider selling, analyst ratings for Taylor Morrison Home remain largely positive, with a consensus rating of "Buy" and a price target of $76.88.

Canada Pension Plan Investment Board lifted its holdings in Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 70.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 134,200 shares of the construction company's stock after acquiring an additional 55,500 shares during the period. Canada Pension Plan Investment Board owned approximately 0.13% of Taylor Morrison Home worth $8,057,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in TMHC. Trexquant Investment LP boosted its stake in shares of Taylor Morrison Home by 7.6% in the 1st quarter. Trexquant Investment LP now owns 121,741 shares of the construction company's stock worth $7,309,000 after buying an additional 8,554 shares during the last quarter. Bayview Asset Management LLC bought a new position in Taylor Morrison Home in the first quarter valued at $966,000. Rafferty Asset Management LLC lifted its stake in shares of Taylor Morrison Home by 4.3% in the 1st quarter. Rafferty Asset Management LLC now owns 75,424 shares of the construction company's stock valued at $4,528,000 after acquiring an additional 3,090 shares during the last quarter. EMG Holdings L.P. increased its holdings in Taylor Morrison Home by 66.4% during the 1st quarter. EMG Holdings L.P. now owns 165,000 shares of the construction company's stock valued at $9,907,000 after purchasing an additional 65,827 shares during the period. Finally, Long Pond Capital LP bought a new stake in shares of Taylor Morrison Home in the 1st quarter worth approximately $40,345,000. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Sheryl Palmer sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $70.20, for a total transaction of $1,755,000.00. Following the completion of the sale, the chief executive officer directly owned 383,988 shares in the company, valued at approximately $26,955,957.60. This trade represents a 6.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Curtis Vanhyfte sold 9,754 shares of Taylor Morrison Home stock in a transaction that occurred on 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 in the company, valued at approximately $923,710.86. This represents a 40.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,836 shares of company stock valued at $2,746,743 in the last 90 days. Insiders own 1.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on TMHC shares. Seaport Res Ptn upgraded Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 23rd. Wall Street Zen lowered shares of Taylor Morrison Home from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $76.88.

Taylor Morrison Home Price Performance

TMHC traded down $0.54 during midday trading on Monday, reaching $71.30. 101,381 shares of the company's stock were exchanged, compared to its average volume of 1,076,702. Taylor Morrison Home Corporation has a 1-year low of $51.90 and a 1-year high of $75.49. The business's 50-day moving average price is $64.97 and its 200 day moving average price is $60.89. The stock has a market capitalization of $7.16 billion, a PE ratio of 8.23 and a beta of 1.58. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.54 and a quick ratio of 0.74.

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 business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the previous year, the business posted $1.86 EPS. The business's quarterly revenue was up 2.0% on a year-over-year basis. As a group, equities analysts anticipate that Taylor Morrison Home Corporation will post 8.93 EPS for the current fiscal year.

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.