Livforsakringsbolaget Skandia Omsesidigt Cuts Stock Holdings in Taylor Morrison Home Corporation $TMHC

Key Points

• Livforsakringsbolaget Skandia Omsesidigt cut its stake in Taylor Morrison Home Corporation by 23.5%, reducing its ownership to 30,600 shares valued at approximately $1.88 million.
• Despite Skandia's reduction, several hedge funds increased their positions in Taylor Morrison, with Assenagon Asset Management raising its stake by 80.2%.
• Analysts have mixed ratings on TMHC, with one firm differentiating itself by downgrading to a "hold," while others maintained a "buy" rating, resulting in a consensus target price of $76.88.

Livforsakringsbolaget Skandia Omsesidigt reduced its position in Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 23.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 30,600 shares of the construction company's stock after selling 9,400 shares during the period. Livforsakringsbolaget Skandia Omsesidigt's holdings in Taylor Morrison Home were worth $1,879,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in TMHC. Covestor Ltd lifted its stake in shares of Taylor Morrison Home by 14.9% in the 1st quarter. Covestor Ltd now owns 1,292 shares of the construction company's stock worth $78,000 after acquiring an additional 168 shares during the period. Cornerstone Select Advisors LLC lifted its position in Taylor Morrison Home by 0.7% in the 1st quarter. Cornerstone Select Advisors LLC now owns 24,190 shares of the construction company's stock worth $1,452,000 after buying an additional 175 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Taylor Morrison Home by 6.1% during the 1st quarter. Nisa Investment Advisors LLC now owns 3,449 shares of the construction company's stock worth $207,000 after purchasing an additional 197 shares during the last quarter. Avantax Advisory Services Inc. increased its stake in shares of Taylor Morrison Home by 3.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 5,891 shares of the construction company's stock worth $354,000 after purchasing an additional 201 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in Taylor Morrison Home by 29.9% in the 2nd quarter. Parallel Advisors LLC now owns 882 shares of the construction company's stock valued at $54,000 after buying an additional 203 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company's stock.

Insider Activity at Taylor Morrison Home

In related news, CFO Curtis Vanhyfte sold 9,754 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $65.22, for a total value of $636,155.88. Following the completion of the transaction, the chief financial officer owned 14,163 shares in the company, valued at $923,710.86. This trade represents a 40.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sheryl Palmer sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $70.20, for a total transaction of $1,755,000.00. Following the transaction, the chief executive officer owned 383,988 shares of the company's stock, 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 67,351 shares of company stock worth $4,700,630 in the last quarter. 1.40% of the stock is owned by insiders.

Taylor Morrison Home Stock Performance

NYSE TMHC traded up $1.03 on Thursday, hitting $69.22. 1,252,489 shares of the stock were exchanged, compared to its average volume of 1,089,465. The business's fifty day moving average is $66.02 and its 200 day moving average is $61.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.54 and a quick ratio of 0.74. The company has a market capitalization of $6.95 billion, a PE ratio of 7.99 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.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 company had revenue of $2.03 billion during the quarter, compared to analysts' expectations of $1.93 billion. During the same quarter last year, the company posted $1.86 EPS. Taylor Morrison Home's quarterly revenue was up 2.0% compared to the same quarter last year. Research analysts anticipate that Taylor Morrison Home Corporation will post 8.93 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TMHC. Seaport Res Ptn raised shares of Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. Wall Street Zen cut shares of Taylor Morrison Home from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. Finally, Bank of America boosted their price objective on shares of Taylor Morrison Home from $72.00 to $75.00 and gave the company a "buy" rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $77.50.

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.