Livforsakringsbolaget Skandia Omsesidigt Trims Stake in Taylor Morrison Home Corporation $TMHC

Key Points

• Livforsakringsbolaget Skandia Omsesidigt cut its Taylor Morrison Home stake by 51.8% in the first quarter, selling 24,100 shares and leaving it with 22,400 shares valued at about $1.3 million.
• Taylor Morrison reported stronger-than-expected quarterly results, posting $1.12 EPS on $1.39 billion in revenue, both above analyst estimates, even though revenue fell 26.8% year over year.
• Wall Street sentiment remains cautious, with a consensus “Hold” rating and average target price of $77.43, as several firms recently downgraded the stock despite its recent trading strength near its 52-week high.

Livforsakringsbolaget Skandia Omsesidigt lessened its position in Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 51.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,400 shares of the construction company's stock after selling 24,100 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Taylor Morrison Home were worth $1,305,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in Taylor Morrison Home by 0.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 6,401,801 shares of the construction company's stock worth $376,876,000 after purchasing an additional 57,326 shares during the period. AQR Capital Management LLC lifted its stake in Taylor Morrison Home by 67.6% in the fourth quarter. AQR Capital Management LLC now owns 3,710,885 shares of the construction company's stock worth $218,274,000 after purchasing an additional 1,497,329 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Taylor Morrison Home by 96.1% during the first quarter. Assenagon Asset Management S.A. now owns 2,554,498 shares of the construction company's stock valued at $148,774,000 after buying an additional 1,251,558 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Taylor Morrison Home by 2.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,398,394 shares of the construction company's stock valued at $141,194,000 after buying an additional 60,236 shares during the period. Finally, Morgan Stanley grew its stake in shares of Taylor Morrison Home by 10.4% during the fourth quarter. Morgan Stanley now owns 1,973,433 shares of the construction company's stock valued at $116,176,000 after buying an additional 185,381 shares during the last quarter. 95.16% of the stock is owned by hedge funds and other institutional investors.

Taylor Morrison Home Price Performance

Shares of TMHC stock opened at $71.94 on Wednesday. Taylor Morrison Home Corporation has a twelve month low of $54.15 and a twelve month high of $72.50. The company has a current ratio of 7.66, a quick ratio of 1.45 and a debt-to-equity ratio of 0.37. The stock has a fifty day simple moving average of $66.78 and a two-hundred day simple moving average of $63.57. The stock has a market capitalization of $6.72 billion, a price-to-earnings ratio of 10.74, a P/E/G ratio of 1.69 and a beta of 1.44.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 22nd. The construction company reported $1.12 EPS for the quarter, beating the consensus estimate of $0.82 by $0.30. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.33 billion. Taylor Morrison Home had a return on equity of 11.48% and a net margin of 8.77%.The business's revenue for the quarter was down 26.8% on a year-over-year basis. During the same quarter last year, the firm posted $2.07 earnings per share. On average, analysts predict that Taylor Morrison Home Corporation will post 5.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on TMHC. Raymond James Financial lowered Taylor Morrison Home from an "outperform" rating to a "market perform" rating in a research note on Friday, June 26th. Citizens Jmp downgraded Taylor Morrison Home from a "market outperform" rating to a "hold" rating in a research report on Monday, June 1st. Barclays reiterated an "equal weight" rating and issued a $73.00 target price (up from $69.00) on shares of Taylor Morrison Home in a research note on Tuesday. Royal Bank Of Canada downgraded Taylor Morrison Home from an "outperform" rating to a "sector perform" rating and lifted their target price for the stock from $69.00 to $72.50 in a research report on Tuesday, June 2nd. Finally, Seaport Research Partners reissued a "sell" rating and set a $49.00 target price (down from $85.00) on shares of Taylor Morrison Home in a research note on Tuesday, April 7th. Two equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $77.43.

Taylor Morrison Home Company Profile

Taylor Morrison Home Corporation NYSE: TMHC is a leading national homebuilder and developer specializing in the design, construction and sale of single-family detached and attached homes. The company's portfolio spans entry-level, first-time, move-up and active-adult segments, offering buyers a diverse array of architectural styles, floor plans and personalized design options. Through its vertically integrated model, Taylor Morrison manages land acquisition, community development, construction and sales to deliver quality homes and customer-focused experiences across its markets.

The company's heritage traces back to Morrison Homes, founded in 1977, and Taylor Woodrow, established in 1921 in the United Kingdom.

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