Taylor Morrison Home Corporation (NYSE:TMHC) Shares Sold by Vestcor Inc

Key Points

• Vestcor Inc has reduced its holdings in Taylor Morrison Home Corporation (TMHC) by 54%, now owning 12,324 shares valued at approximately $740,000.
• Multiple hedge funds increased their stakes in TMHC, with XTX Topco Ltd boosting its shares by 307.2%, bringing its total to 33,867 shares valued at $2,033,000.
• Taylor Morrison's stock has received a mix of ratings from analysts, with an average rating of "Buy" and a consensus price target of $76.88.

Vestcor Inc trimmed its holdings in Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 54.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,324 shares of the construction company's stock after selling 14,496 shares during the quarter. Vestcor Inc's holdings in Taylor Morrison Home were worth $740,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Northern Trust Corp grew its position in shares of 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 valued at $102,235,000 after acquiring an additional 197,880 shares during the period. Nuveen Asset Management LLC lifted its position 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 valued at $58,332,000 after acquiring an additional 14,590 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Taylor Morrison Home by 80.2% during the first quarter. Assenagon Asset Management S.A. now owns 912,064 shares of the construction company's stock worth $54,760,000 after acquiring an additional 405,875 shares during the period. JPMorgan Chase & Co. boosted its position in Taylor Morrison Home by 24.0% during the fourth quarter. JPMorgan Chase & Co. now owns 811,253 shares of the construction company's stock worth $49,657,000 after purchasing an additional 156,793 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in shares of Taylor Morrison Home by 197.2% in the first 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 during the period. 95.16% of the stock is currently owned by institutional investors.

Taylor Morrison Home Stock Up 2.8%

Shares of NYSE TMHC traded up $1.75 during mid-day trading on Tuesday, hitting $64.81. The company had a trading volume of 1,649,926 shares, compared to its average volume of 1,339,762. The company has a market capitalization of $6.50 billion, a PE ratio of 7.48 and a beta of 1.53. The business's 50-day simple moving average is $60.84 and its 200 day simple moving average is $60.43. Taylor Morrison Home Corporation has a 1-year low of $51.90 and a 1-year high of $75.49. 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 (NYSE:TMHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The construction company reported $2.02 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $1.93 billion. During the same period in the previous year, the firm posted $1.86 EPS. The company's quarterly revenue was up 2.0% compared to the same quarter last year. On average, analysts predict that Taylor Morrison Home Corporation will post 8.93 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on TMHC. Bank of America started 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. Barclays set a $69.00 price objective on Taylor Morrison Home and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Wedbush restated an "outperform" rating and issued a $85.00 price target on shares of Taylor Morrison Home in a report on Wednesday, April 23rd. Seaport Res Ptn raised shares of Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 23rd. Finally, BTIG Research set a $75.00 price target on shares of Taylor Morrison Home and gave the stock a "buy" rating in a research report on Wednesday, April 16th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $76.88.

Taylor Morrison Home Company 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.