Swiss National Bank Sells 4,600 Shares of Taylor Morrison Home Corporation $TMHC

Key Points

• The Swiss National Bank reduced its holdings in Taylor Morrison Home Corporation by 2.2%, owning approximately 0.20% of the company, valued at $12,036,000 as of the latest SEC filing.
• Victory Capital Management Inc. significantly increased its stake by 197.2%, now owning 793,987 shares valued at $47,671,000, while other institutional investors have also made notable adjustments to their positions.
• Taylor Morrison Home reported $2.02 earnings per share (EPS) for the latest quarter, exceeding analysts' expectations, and showing year-over-year revenue growth of 2.0%.

Swiss National Bank reduced its stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 2.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 200,460 shares of the construction company's stock after selling 4,600 shares during the period. Swiss National Bank owned 0.20% of Taylor Morrison Home worth $12,036,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Northern Trust Corp lifted its holdings in Taylor Morrison Home by 13.4% in the 4th quarter. Northern Trust Corp now owns 1,670,241 shares of the construction company's stock worth $102,235,000 after purchasing an additional 197,880 shares in the last quarter. Nuveen Asset Management LLC lifted its holdings in Taylor Morrison Home by 1.6% in the 4th quarter. Nuveen Asset Management LLC now owns 952,988 shares of the construction company's stock worth $58,332,000 after purchasing an additional 14,590 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings 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 worth $54,760,000 after purchasing an additional 405,875 shares in the last quarter. Victory Capital Management Inc. lifted its holdings 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 worth $47,671,000 after purchasing an additional 526,819 shares in the last quarter. Finally, Assetmark Inc. lifted its holdings in Taylor Morrison Home by 2.9% in the 1st quarter. Assetmark Inc. now owns 783,185 shares of the construction company's stock worth $47,022,000 after purchasing an additional 22,265 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on TMHC shares. Bank of America started coverage on Taylor Morrison Home in a report on Monday, May 5th. They issued a "buy" rating and a $70.00 price target on the stock. Barclays set a $69.00 price objective on Taylor Morrison Home and gave the stock an "overweight" rating in a report on Thursday, April 24th. Wall Street Zen cut Taylor Morrison Home from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Seaport Res Ptn raised Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. Finally, Wedbush reaffirmed an "outperform" rating and set a $85.00 price objective on shares of Taylor Morrison Home in a report on Wednesday, April 23rd. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $76.88.

Taylor Morrison Home Trading Up 1.7%

NYSE:TMHC traded up $1.18 during midday trading on Tuesday, hitting $69.29. 408,576 shares of the company traded hands, compared to its average volume of 1,069,386. The firm's fifty day moving average is $62.53 and its 200-day moving average is $60.43. Taylor Morrison Home Corporation has a 12-month low of $51.90 and a 12-month high of $75.49. The firm has a market capitalization of $6.95 billion, a P/E ratio of 8.00 and a beta of 1.53. The company has a current ratio of 6.54, a quick ratio of 0.74 and a debt-to-equity ratio of 0.35.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The construction company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.08. Taylor Morrison Home had a return on equity of 16.22% and a net margin of 10.72%.The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.93 billion. During the same quarter in the prior year, the firm posted $1.86 EPS. Taylor Morrison Home's quarterly revenue was up 2.0% compared to the same quarter last year. On average, sell-side analysts predict that Taylor Morrison Home Corporation will post 8.93 EPS for the current year.

Insider Buying and Selling

In other Taylor Morrison Home news, CFO Curtis Vanhyfte sold 9,754 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $65.22, for a total value of $636,155.88. Following the transaction, the chief financial officer owned 14,163 shares of the company's stock, valued at $923,710.86. This represents a 40.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.40% of the stock is owned by company insiders.

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.