Cornerstone Select Advisors LLC Reduces Holdings in Taylor Morrison Home Corporation $TMHC

Cornerstone Select Advisors LLC reduced its stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC) by 6.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,696 shares of the construction company’s stock after selling 1,494 shares during the quarter. Cornerstone Select Advisors LLC’s holdings in Taylor Morrison Home were worth $1,394,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of TMHC. Charles Schwab Investment Management Inc. grew its holdings in shares of Taylor Morrison Home by 1.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,374,540 shares of the construction company’s stock worth $84,424,000 after purchasing an additional 20,902 shares during the last quarter. American Century Companies Inc. grew its stake in Taylor Morrison Home by 21.9% during the 2nd quarter. American Century Companies Inc. now owns 1,069,859 shares of the construction company’s stock worth $65,711,000 after buying an additional 192,554 shares during the last quarter. Franklin Resources Inc. increased its position in Taylor Morrison Home by 0.5% during the second quarter. Franklin Resources Inc. now owns 1,043,809 shares of the construction company’s stock worth $64,111,000 after buying an additional 4,904 shares during the period. Nuveen LLC acquired a new position in Taylor Morrison Home during the first quarter worth approximately $51,329,000. Finally, Assetmark Inc. lifted its stake in Taylor Morrison Home by 5.6% in the second quarter. Assetmark Inc. now owns 827,090 shares of the construction company’s stock valued at $50,800,000 after buying an additional 43,905 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Taylor Morrison Home Stock Up 5.0%

Shares of Taylor Morrison Home stock opened at $60.77 on Friday. The company has a market cap of $5.94 billion, a P/E ratio of 7.32 and a beta of 1.58. The firm has a fifty day moving average of $62.45 and a two-hundred day moving average of $62.55. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.02 and a current ratio of 7.02. Taylor Morrison Home Corporation has a one year low of $51.90 and a one year high of $75.49.

Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings results on Wednesday, October 22nd. The construction company reported $2.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.18. The business had revenue of $94.84 million for the quarter, compared to analyst estimates of $2.03 billion. Taylor Morrison Home had a net margin of 10.16% and a return on equity of 15.23%. The business’s revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the business posted $2.40 earnings per share. On average, analysts forecast that Taylor Morrison Home Corporation will post 8.93 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Anne L. Mariucci sold 14,002 shares of the stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $70.00, for a total transaction of $980,140.00. Following the completion of the transaction, the director directly owned 48,191 shares of the company’s stock, valued at approximately $3,373,370. This represents a 22.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Sheryl Palmer sold 13,513 shares of Taylor Morrison Home stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $72.06, for a total value of $973,746.78. Following the completion of the sale, the chief executive officer owned 370,475 shares in the company, valued at approximately $26,696,428.50. This trade represents a 3.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.40% of the company’s stock.

Analyst Ratings Changes

TMHC has been the topic of a number of research reports. Bank of America cut their target price on shares of Taylor Morrison Home from $75.00 to $72.00 and set a “buy” rating on the stock in a report on Friday, October 10th. Royal Bank Of Canada dropped their price objective on shares of Taylor Morrison Home from $75.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, October 23rd. Wedbush reiterated an “outperform” rating and set a $85.00 target price on shares of Taylor Morrison Home in a research note on Thursday, October 23rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Taylor Morrison Home in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $75.29.

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.