Taylor Morrison Home Corporation $TMHC Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Taylor Morrison Home Corporation by 10.0%, now holding 668,090 shares valued at approximately $42.9 million after selling 74,090 shares.
• Insider trading activity included Director Anne L. Mariucci selling 14,002 shares for $980,140, a 22.51% decrease in their ownership, while CFO Curtis Vanhyfte sold 5,082 shares, representing a 30.21% decrease.
• Taylor Morrison has received several upgrades from analysts, with a current consensus rating of "Buy" and an average price target of $77.13, reflecting confidence in the company's performance.

Allspring Global Investments Holdings LLC trimmed its position in shares of Taylor Morrison Home Corporation (NYSE:TMHC - Free Report) by 10.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 668,090 shares of the construction company's stock after selling 74,090 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.67% of Taylor Morrison Home worth $42,898,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in Taylor Morrison Home by 193.0% during the 1st quarter. GAMMA Investing LLC now owns 674 shares of the construction company's stock worth $40,000 after acquiring an additional 444 shares in the last quarter. KBC Group NV grew its holdings in Taylor Morrison Home by 16.7% during the 1st quarter. KBC Group NV now owns 4,987 shares of the construction company's stock worth $299,000 after acquiring an additional 714 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. acquired a new position in Taylor Morrison Home during the 1st quarter worth $243,000. Sumitomo Mitsui Trust Group Inc. grew its holdings in Taylor Morrison Home by 10.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,200 shares of the construction company's stock worth $552,000 after acquiring an additional 900 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in Taylor Morrison Home by 15.6% during the 1st quarter. Cerity Partners LLC now owns 24,507 shares of the construction company's stock worth $1,471,000 after acquiring an additional 3,311 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Taylor Morrison Home

In related news, Director Anne L. Mariucci sold 14,002 shares of Taylor Morrison Home stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $70.00, for a total value of $980,140.00. Following the sale, the director directly owned 48,191 shares in the company, valued at $3,373,370. This trade represents a 22.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Curtis Vanhyfte sold 5,082 shares of Taylor Morrison Home stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $69.97, for a total transaction of $355,587.54. Following the completion of the sale, the chief financial officer owned 11,742 shares in the company, valued at approximately $821,587.74. This represents a 30.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,351 shares of company stock worth $4,700,630 in the last ninety days. 1.40% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have weighed in on TMHC shares. Weiss Ratings reissued a "buy (b)" rating on shares of Taylor Morrison Home in a report on Wednesday, October 8th. Seaport Res Ptn raised shares of Taylor Morrison Home from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 23rd. Finally, Bank of America reduced their price target on shares of Taylor Morrison Home from $75.00 to $72.00 and set a "buy" rating on the stock in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. According to MarketBeat.com, Taylor Morrison Home currently has a consensus rating of "Buy" and an average price target of $77.13.

Taylor Morrison Home Trading Up 4.0%

Taylor Morrison Home stock opened at $63.05 on Wednesday. The firm's 50-day moving average is $66.94 and its 200-day moving average is $62.01. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.74 and a current ratio of 6.54. Taylor Morrison Home Corporation has a 1 year low of $51.90 and a 1 year high of $75.49. The company has a market cap of $6.33 billion, a P/E ratio of 7.28 and a beta of 1.61.

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

About Taylor Morrison Home

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.

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