Comerica Bank Sells 44,855 Shares of Taylor Morrison Home Corporation $TMHC

Key Points

• Comerica Bank sold 44,855 shares of Taylor Morrison Home Corporation, reducing its holdings by 56.4% to 34,662 shares, valued at approximately $2.08 million.
• During the first quarter, other institutional investors made significant moves such as Assenagon Asset Management increasing its position by 80.2%, and Victory Capital Management boosting theirs by 197.2%.
• The company's latest earnings report showed a profit of $2.02 per share, exceeding estimates, with a revenue of $2.03 billion, which is a 2.0% increase year-over-year.

Comerica Bank reduced its position in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 56.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,662 shares of the construction company's stock after selling 44,855 shares during the quarter. Comerica Bank's holdings in Taylor Morrison Home were worth $2,081,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nuveen Asset Management LLC raised its stake in Taylor Morrison Home by 1.6% in the fourth quarter. Nuveen Asset Management LLC now owns 952,988 shares of the construction company's stock valued at $58,332,000 after buying an additional 14,590 shares during the period. Assenagon Asset Management S.A. raised its stake in 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 acquiring an additional 405,875 shares during the period. American Century Companies Inc. raised its stake in Taylor Morrison Home by 14.4% in the 1st quarter. American Century Companies Inc. now owns 877,305 shares of the construction company's stock valued at $52,673,000 after acquiring an additional 110,619 shares during the period. Nuveen LLC bought a new stake in Taylor Morrison Home in the 1st quarter valued at $51,329,000. Finally, Victory Capital Management Inc. raised its stake in Taylor Morrison Home by 197.2% in the 1st quarter. Victory Capital Management Inc. now owns 793,987 shares of the construction company's stock valued at $47,671,000 after acquiring an additional 526,819 shares during the period. 95.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Taylor Morrison Home Price Performance

Shares of TMHC traded up $2.64 during midday trading on Thursday, hitting $70.13. The company's stock had a trading volume of 1,405,684 shares, compared to its average volume of 1,081,053. Taylor Morrison Home Corporation has a one year low of $51.90 and a one year high of $75.49. The company has a quick ratio of 0.74, a current ratio of 6.54 and a debt-to-equity ratio of 0.35. The company's fifty day simple moving average is $64.57 and its two-hundred day simple moving average is $60.80. The stock has a market capitalization of $7.04 billion, a price-to-earnings ratio of 8.10 and a beta of 1.58.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The construction company reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $1.94 by $0.08. The business had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.93 billion. Taylor Morrison Home had a return on equity of 16.22% and a net margin of 10.72%.Taylor Morrison Home's quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.86 EPS. As a group, equities analysts expect that Taylor Morrison Home Corporation will post 8.93 earnings per share for the current fiscal year.

Insider Transactions at Taylor Morrison Home

In other news, CFO Curtis Vanhyfte sold 5,082 shares of the company's stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $69.97, for a total value of $355,587.54. Following the sale, the chief financial officer directly owned 11,742 shares of the company's stock, valued at approximately $821,587.74. This represents a 30.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sheryl Palmer sold 25,000 shares of the company's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $70.20, for a total value of $1,755,000.00. Following the sale, the chief executive officer owned 383,988 shares in the company, valued at approximately $26,955,957.60. The trade was a 6.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 39,836 shares of company stock worth $2,746,743 in the last quarter. Corporate insiders own 1.40% of the company's stock.

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.