Taylor Morrison Home Corporation $TMHC Shares Sold by Royal Bank of Canada

Key Points

• Royal Bank of Canada has reduced its stake in Taylor Morrison Home Corporation by 6.2%, owning approximately 266,624 shares valued at $16.01 million as of the latest SEC filing.
• CEO Sheryl Palmer sold 13,513 shares of Taylor Morrison's stock, decreasing her ownership by 3.52%, while CFO Curtis Vanhyfte sold 5,082 shares, reducing his stake by 30.21%.
• Taylor Morrison Home has a robust financial profile, reporting earnings of $2.02 per share in its latest quarter, surpassing analyst expectations and reflecting a 2.0% revenue increase year-over-year.

Royal Bank of Canada reduced its holdings in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 6.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 266,624 shares of the construction company's stock after selling 17,670 shares during the period. Royal Bank of Canada owned about 0.27% of Taylor Morrison Home worth $16,009,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Graham Capital Management L.P. lifted its stake in shares of Taylor Morrison Home by 38.3% during the 1st quarter. Graham Capital Management L.P. now owns 55,603 shares of the construction company's stock worth $3,338,000 after acquiring an additional 15,390 shares during the last quarter. Steamboat Capital Partners LLC raised its position in Taylor Morrison Home by 19.4% during the 1st quarter. Steamboat Capital Partners LLC now owns 200,000 shares of the construction company's stock valued at $12,008,000 after purchasing an additional 32,512 shares in the last quarter. Quarry LP raised its position in Taylor Morrison Home by 62.8% during the 1st quarter. Quarry LP now owns 1,146 shares of the construction company's stock valued at $69,000 after purchasing an additional 442 shares in the last quarter. Junto Capital Management LP bought a new stake in Taylor Morrison Home during the 1st quarter valued at $34,007,000. Finally, Panagora Asset Management Inc. bought a new stake in Taylor Morrison Home during the 1st quarter valued at $8,097,000. 95.16% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity

In other Taylor Morrison Home news, CFO Curtis Vanhyfte sold 5,082 shares of the business's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $69.97, for a total transaction of $355,587.54. Following the sale, the chief financial officer owned 11,742 shares in the company, valued at approximately $821,587.74. The trade was a 30.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sheryl Palmer sold 13,513 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $72.06, for a total value of $973,746.78. Following the completion of the transaction, the chief executive officer directly owned 370,475 shares of the company's stock, valued at approximately $26,696,428.50. This trade represents a 3.52% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 53,349 shares of company stock worth $3,720,490. Company insiders own 1.40% of the company's stock.

Taylor Morrison Home Stock Down 2.0%

TMHC stock traded down $1.44 on Friday, hitting $69.69. 1,231,616 shares of the company's stock were exchanged, compared to its average volume of 1,059,592. Taylor Morrison Home Corporation has a 12-month low of $51.90 and a 12-month high of $75.49. The firm has a 50 day moving average price of $65.66 and a two-hundred day moving average price of $61.20. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 6.54. The stock has a market cap of $6.99 billion, a P/E ratio of 8.05 and a beta of 1.58.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The construction company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $1.94 by $0.08. The firm had revenue of $2.03 billion for the quarter, compared to the consensus estimate of $1.93 billion. Taylor Morrison Home had a return on equity of 16.22% and a net margin of 10.72%.The firm's revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.86 EPS. As a group, equities research 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.