Mackenzie Financial Corp Lowers Position in Taylor Morrison Home Corporation (NYSE:TMHC)

Key Points

• Mackenzie Financial Corp reduced its stake in Taylor Morrison Home Corporation by 44.5%, selling 14,402 shares, leading to a total of 17,944 shares valued at approximately $1,077,000.
• Multiple institutional investors have increased their positions in TMHC, with GAMMA Investing LLC boosting its stake by 193.0%.
• Barclays set a $69.00 target price on Taylor Morrison Home, while the stock has a current consensus rating of "Buy" with an average target price of $76.88.

Mackenzie Financial Corp reduced its stake in Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 44.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,944 shares of the construction company's stock after selling 14,402 shares during the period. Mackenzie Financial Corp's holdings in Taylor Morrison Home were worth $1,077,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of TMHC. Morse Asset Management Inc bought a new stake in shares of Taylor Morrison Home in the 4th quarter worth approximately $29,000. GAMMA Investing LLC grew its stake in shares of Taylor Morrison Home by 193.0% in the first quarter. GAMMA Investing LLC now owns 674 shares of the construction company's stock worth $40,000 after acquiring an additional 444 shares during the last quarter. Quarry LP grew its stake in shares of Taylor Morrison Home by 202.1% in the fourth quarter. Quarry LP now owns 704 shares of the construction company's stock worth $43,000 after acquiring an additional 471 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Taylor Morrison Home by 49.5% during the first quarter. Farther Finance Advisors LLC now owns 791 shares of the construction company's stock valued at $48,000 after acquiring an additional 262 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its position in shares of Taylor Morrison Home by 50.2% in the 1st quarter. Harbor Capital Advisors Inc. now owns 844 shares of the construction company's stock worth $51,000 after purchasing an additional 282 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Taylor Morrison Home Stock Performance

TMHC traded up $0.56 during mid-day trading on Friday, reaching $64.88. 646,110 shares of the company traded hands, compared to its average volume of 1,072,866. The company's fifty day moving average price is $61.16 and its 200-day moving average price is $60.45. The stock has a market capitalization of $6.51 billion, a P/E ratio of 7.49 and a beta of 1.53. The company has a quick ratio of 0.74, a current ratio of 6.54 and a debt-to-equity ratio of 0.35. 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 for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.93 billion. During the same quarter in the prior year, the company earned $1.86 earnings per share. Taylor Morrison Home's revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts expect that Taylor Morrison Home Corporation will post 8.93 EPS for the current 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.