LPL Financial LLC Lowers Stock Holdings in Taylor Morrison Home Corporation $TMHC

Key Points

• LPL Financial LLC significantly reduced its stake in Taylor Morrison Home Corporation by 56.4%, selling 32,231 shares and now holding 24,942 shares worth approximately $1.5 million.
• Other institutional investors have increased their positions in Taylor Morrison Home, with Inspire Advisors LLC upping their stake by 88.2%, now owning 12,725 shares valued at $764,000.
• Taylor Morrison Home reported a $2.02 earnings per share (EPS) for the latest quarter, exceeding estimates and indicating a 2% revenue increase year-over-year, with projections of an 8.93 EPS for the current fiscal year.

LPL Financial LLC reduced its stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 56.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,942 shares of the construction company's stock after selling 32,231 shares during the quarter. LPL Financial LLC's holdings in Taylor Morrison Home were worth $1,498,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its stake 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. KBC Group NV grew its stake in shares of Taylor Morrison Home by 16.7% during the first quarter. KBC Group NV now owns 4,987 shares of the construction company's stock valued at $299,000 after buying an additional 714 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Taylor Morrison Home by 10.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,200 shares of the construction company's stock valued at $552,000 after buying an additional 900 shares during the last quarter. Cerity Partners LLC grew its stake in shares of Taylor Morrison Home by 15.6% in the first quarter. Cerity Partners LLC now owns 24,507 shares of the construction company's stock worth $1,471,000 after purchasing an additional 3,311 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Taylor Morrison Home by 17.5% in the first quarter. Janney Montgomery Scott LLC now owns 8,056 shares of the construction company's stock worth $484,000 after purchasing an additional 1,201 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Insider Activity

In other Taylor Morrison Home news, CFO Curtis Vanhyfte sold 5,082 shares of the firm's stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $69.97, for a total value of $355,587.54. Following the completion of the sale, the chief financial officer directly owned 11,742 shares in the company, valued at $821,587.74. This trade represents a 30.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sheryl Palmer sold 25,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 383,988 shares of the company's stock, valued at $26,955,957.60. This trade represents a 6.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 39,836 shares of company stock valued at $2,746,743 over the last 90 days. 1.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TMHC. Wall Street Zen cut Taylor Morrison Home from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Seaport Res Ptn raised Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, July 23rd. Finally, Bank of America began coverage on Taylor Morrison Home in a research note on Monday, May 5th. They issued a "buy" rating and a $70.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and an average price target of $76.88.

Taylor Morrison Home Stock Down 0.1%

TMHC traded down $0.07 on Wednesday, hitting $67.31. The company had a trading volume of 719,046 shares, compared to its average volume of 1,230,097. 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 Corporation has a 52-week low of $51.90 and a 52-week high of $75.49. The stock has a fifty day simple moving average of $63.82 and a 200-day simple moving average of $60.67. The firm has a market capitalization of $6.76 billion, a P/E ratio of 7.77 and a beta of 1.53.

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

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.