Taylor Morrison Home Corporation $TMHC Holdings Cut by Geode Capital Management LLC

Geode Capital Management LLC reduced its stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC) by 2.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,492,586 shares of the construction company’s stock after selling 60,641 shares during the period. Geode Capital Management LLC owned 2.48% of Taylor Morrison Home worth $153,112,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TMHC. Atlantic Union Bankshares Corp acquired a new stake in Taylor Morrison Home during the second quarter valued at $28,000. Parallel Advisors LLC lifted its holdings in shares of Taylor Morrison Home by 29.9% during the 2nd quarter. Parallel Advisors LLC now owns 882 shares of the construction company’s stock valued at $54,000 after buying an additional 203 shares during the last quarter. IFP Advisors Inc bought a new stake in shares of Taylor Morrison Home in the 2nd quarter valued at approximately $65,000. Quarry LP increased its holdings in Taylor Morrison Home by 62.8% in the first quarter. Quarry LP now owns 1,146 shares of the construction company’s stock worth $69,000 after buying an additional 442 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Taylor Morrison Home by 71.8% during the second quarter. GAMMA Investing LLC now owns 1,158 shares of the construction company’s stock valued at $71,000 after acquiring an additional 484 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Taylor Morrison Home

In other news, Director Anne L. Mariucci sold 14,002 shares of Taylor Morrison Home 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 sale, the director owned 48,191 shares of the company’s stock, valued at approximately $3,373,370. This trade represents a 22.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Sheryl Palmer sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $70.20, for a total value of $1,755,000.00. Following the sale, the chief executive officer owned 383,988 shares in the company, valued at approximately $26,955,957.60. This represents a 6.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 57,597 shares of company stock worth $4,064,474 over the last three months. Company insiders own 1.40% of the company’s stock.

Taylor Morrison Home Price Performance

Shares of Taylor Morrison Home stock opened at $58.34 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.02 and a quick ratio of 1.02. The company has a market cap of $5.70 billion, a PE ratio of 7.03 and a beta of 1.58. The firm has a fifty day moving average price of $63.13 and a two-hundred day moving average price of $62.57. Taylor Morrison Home Corporation has a fifty-two week low of $51.90 and a fifty-two week high of $75.49.

Taylor Morrison Home (NYSE:TMHC) last posted its quarterly earnings data on Wednesday, October 22nd. The construction company reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.18. The company had revenue of $94.84 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm posted $2.40 EPS. Analysts expect that Taylor Morrison Home Corporation will post 8.93 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on TMHC. 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. Bank of America decreased their price objective on shares of Taylor Morrison Home from $75.00 to $72.00 and set a “buy” rating for the company in a report on Friday, October 10th. Weiss Ratings lowered Taylor Morrison Home from a “buy (b-)” rating to a “hold (c+)” rating in a report on Thursday, November 13th. Wedbush reiterated an “outperform” rating and set a $85.00 price target on shares of Taylor Morrison Home in a research note on Thursday, October 23rd. Finally, Royal Bank Of Canada dropped their price target on shares of Taylor Morrison Home from $75.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, October 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Taylor Morrison Home presently has a consensus rating of “Buy” and an average target price 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.