Vestcor Inc Has $740,000 Holdings in Taylor Morrison Home Corporation (NYSE:TMHC)

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 lessened its stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 54.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 12,324 shares of the construction company's stock after selling 14,496 shares during the period. Vestcor Inc's holdings in Taylor Morrison Home were worth $740,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Victory Capital Management Inc. raised its stake 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 last quarter. Assenagon Asset Management S.A. raised its stake in shares of Taylor Morrison Home by 80.2% in the first 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 during the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Taylor Morrison Home in the fourth quarter worth about $14,736,000. Point72 Asset Management L.P. purchased a new position in shares of Taylor Morrison Home in the fourth quarter worth about $13,332,000. Finally, Northern Trust Corp raised its stake in shares of Taylor Morrison Home by 13.4% in the fourth 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 during the last quarter. Hedge funds and other institutional investors own 95.16% of the company's stock.

Taylor Morrison Home Price Performance

Shares of TMHC traded down $0.33 during mid-day trading on Thursday, reaching $64.22. 341,099 shares of the company's stock were exchanged, compared to its average volume of 1,073,542. Taylor Morrison Home Corporation has a 52-week low of $51.90 and a 52-week high of $75.49. The company has a market cap of $6.45 billion, a price-to-earnings ratio of 7.41 and a beta of 1.53. The company has a 50-day simple moving average of $61.01 and a two-hundred day simple moving average of $60.46. 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 (NYSE:TMHC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The construction company reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $1.94 by $0.08. The business had revenue of $2.03 billion during 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 business's revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.86 earnings per share. On average, sell-side analysts predict that Taylor Morrison Home Corporation will post 8.93 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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