Bank of America Corp DE Reduces Stock Position in Taylor Morrison Home Co. (NYSE:TMHC)

Bank of America Corp DE cut its stake in Taylor Morrison Home Co. (NYSE:TMHC - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 532,045 shares of the construction company's stock after selling 56,777 shares during the quarter. Bank of America Corp DE owned about 0.51% of Taylor Morrison Home worth $32,566,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Ameriprise Financial Inc. lifted its holdings in shares of Taylor Morrison Home by 3.6% in the 4th quarter. Ameriprise Financial Inc. now owns 641,170 shares of the construction company's stock worth $39,247,000 after acquiring an additional 22,421 shares during the last quarter. Algert Global LLC raised its position in Taylor Morrison Home by 31.2% in the 4th quarter. Algert Global LLC now owns 232,881 shares of the construction company's stock worth $14,255,000 after purchasing an additional 55,443 shares during the period. Aristeia Capital L.L.C. bought a new stake in Taylor Morrison Home in the fourth quarter worth about $422,000. Gallagher Fiduciary Advisors LLC boosted its position in shares of Taylor Morrison Home by 15.6% during the fourth quarter. Gallagher Fiduciary Advisors LLC now owns 6,254 shares of the construction company's stock valued at $383,000 after buying an additional 843 shares during the period. Finally, Freestone Grove Partners LP purchased a new position in shares of Taylor Morrison Home during the fourth quarter valued at approximately $510,000. 95.16% of the stock is currently owned by institutional investors.

Insider Transactions at Taylor Morrison Home

In other news, Director David C. Merritt sold 2,402 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $63.98, for a total transaction of $153,679.96. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Joseph Terracciano sold 1,537 shares of Taylor Morrison Home stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $60.75, for a total transaction of $93,372.75. The disclosure for this sale can be found here. Insiders own 1.40% of the company's stock.

Taylor Morrison Home Stock Down 2.0%

TMHC traded down $1.12 on Thursday, hitting $56.06. The company had a trading volume of 583,729 shares, compared to its average volume of 912,261. Taylor Morrison Home Co. has a 12-month low of $51.90 and a 12-month high of $75.49. The stock has a market capitalization of $5.63 billion, a price-to-earnings ratio of 6.77 and a beta of 1.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 6.39. The stock has a fifty day moving average price of $58.30 and a 200-day moving average price of $62.73.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The construction company reported $2.18 EPS for the quarter, beating analysts' consensus estimates of $1.85 by $0.33. The company had revenue of $1.90 billion during the quarter, compared to analysts' expectations of $1.81 billion. Taylor Morrison Home had a net margin of 10.81% and a return on equity of 16.50%. Taylor Morrison Home's revenue for the quarter was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.75 earnings per share. Analysts predict that Taylor Morrison Home Co. will post 8.93 EPS for the current fiscal year.

Analyst Ratings Changes

TMHC has been the topic of several recent analyst reports. Bank of America began 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 target price on Taylor Morrison Home and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Royal Bank of Canada upped their price target on shares of Taylor Morrison Home from $72.00 to $74.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Seaport Res Ptn raised shares of Taylor Morrison Home from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, Wedbush reissued an "outperform" rating and issued a $85.00 price objective on shares of Taylor Morrison Home in a research report on Wednesday, April 23rd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $76.88.

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.