Los Angeles Capital Management LLC lowered its stake in shares of Taylor Morrison Home Co. (NYSE:TMHC – Get Rating) by 54.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 15,808 shares of the construction company’s stock after selling 19,038 shares during the period. Los Angeles Capital Management LLC’s holdings in Taylor Morrison Home were worth $369,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC purchased a new position in shares of Taylor Morrison Home during the 1st quarter valued at about $4,950,000. State of New Jersey Common Pension Fund D grew its position in shares of Taylor Morrison Home by 8.8% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 91,234 shares of the construction company’s stock valued at $2,483,000 after acquiring an additional 7,394 shares during the period. Prospera Financial Services Inc acquired a new stake in shares of Taylor Morrison Home during the 1st quarter valued at about $121,000. AlphaCrest Capital Management LLC grew its position in shares of Taylor Morrison Home by 132.0% during the 1st quarter. AlphaCrest Capital Management LLC now owns 140,022 shares of the construction company’s stock valued at $3,811,000 after acquiring an additional 79,658 shares during the period. Finally, Assetmark Inc. grew its position in shares of Taylor Morrison Home by 119.6% during the 2nd quarter. Assetmark Inc. now owns 1,221 shares of the construction company’s stock valued at $29,000 after acquiring an additional 665 shares during the period. Hedge funds and other institutional investors own 95.05% of the company’s stock.
Analyst Upgrades and Downgrades
TMHC has been the topic of a number of analyst reports. Royal Bank of Canada cut Taylor Morrison Home from an “outperform” rating to a “sector perform” rating and raised their target price for the company from $28.00 to $29.00 in a research report on Thursday, July 28th. They noted that the move was a valuation call. BTIG Research cut Taylor Morrison Home from a “buy” rating to a “neutral” rating in a research report on Thursday, October 27th. TheStreet cut Taylor Morrison Home from a “b-” rating to a “c+” rating in a research report on Tuesday, September 27th. StockNews.com cut Taylor Morrison Home from a “buy” rating to a “hold” rating in a research report on Saturday, October 29th. Finally, Barclays lowered their price objective on Taylor Morrison Home from $33.00 to $30.00 in a report on Thursday, October 27th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.29.
Taylor Morrison Home Trading Up 0.0 %
Taylor Morrison Home (NYSE:TMHC – Get Rating) last issued its earnings results on Wednesday, October 26th. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.22. The business had revenue of $2.03 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Taylor Morrison Home had a return on equity of 24.70% and a net margin of 12.75%. On average, sell-side analysts anticipate that Taylor Morrison Home Co. will post 9.31 EPS for the current fiscal year.
Insider Transactions at Taylor Morrison Home
In related news, CFO Louis Steffens bought 11,000 shares of the stock in a transaction dated Wednesday, September 14th. The shares were acquired at an average cost of $23.07 per share, for a total transaction of $253,770.00. Following the acquisition, the chief financial officer now directly owns 44,667 shares in the company, valued at approximately $1,030,467.69. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.20% of the company’s stock.
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 also develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name; and offers title insurance and closing settlement services, as well as financial services.
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