Mackenzie Financial Corp Sells 58,387 Shares of Taylor Morrison Home Co. (NYSE:TMHC)

Mackenzie Financial Corp reduced its stake in Taylor Morrison Home Co. (NYSE:TMHC) by 15.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 319,068 shares of the construction company’s stock after selling 58,387 shares during the quarter. Mackenzie Financial Corp’s holdings in Taylor Morrison Home were worth $17,022,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. IFP Advisors Inc raised its stake in shares of Taylor Morrison Home by 138.9% in the third quarter. IFP Advisors Inc now owns 614 shares of the construction company’s stock worth $26,000 after buying an additional 357 shares during the period. Lazard Asset Management LLC bought a new stake in Taylor Morrison Home during the 1st quarter worth approximately $44,000. Ronald Blue Trust Inc. lifted its holdings in Taylor Morrison Home by 3,911.1% during the third quarter. Ronald Blue Trust Inc. now owns 1,083 shares of the construction company’s stock valued at $46,000 after purchasing an additional 1,056 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Taylor Morrison Home in the first quarter worth approximately $77,000. Finally, Covestor Ltd increased its stake in shares of Taylor Morrison Home by 100.5% in the first quarter. Covestor Ltd now owns 3,072 shares of the construction company’s stock worth $84,000 after purchasing an additional 1,540 shares in the last quarter. 95.16% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on TMHC. Royal Bank of Canada lifted their target price on shares of Taylor Morrison Home from $57.00 to $61.00 and gave the company an “outperform” rating in a research note on Thursday, February 15th. Zelman & Associates upgraded Taylor Morrison Home from an “underperform” rating to a “neutral” rating in a research report on Friday, April 12th. Barclays upped their price objective on Taylor Morrison Home from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 15th. StockNews.com lowered shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. Finally, Seaport Res Ptn cut shares of Taylor Morrison Home from a “buy” rating to a “neutral” rating in a research report on Monday, January 22nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $57.20.

Taylor Morrison Home Stock Performance

NYSE TMHC opened at $54.03 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 6.00 and a quick ratio of 1.13. Taylor Morrison Home Co. has a 1-year low of $37.23 and a 1-year high of $62.64. The business has a 50 day simple moving average of $57.38 and a two-hundred day simple moving average of $50.70. The stock has a market capitalization of $5.75 billion, a PE ratio of 7.74 and a beta of 1.87.

Taylor Morrison Home (NYSE:TMHC) last posted its earnings results on Wednesday, February 14th. The construction company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.82 by $0.23. Taylor Morrison Home had a net margin of 10.37% and a return on equity of 16.21%. The firm had revenue of $2.02 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the firm posted $2.93 earnings per share. Taylor Morrison Home’s revenue for the quarter was down 19.0% compared to the same quarter last year. On average, research analysts predict that Taylor Morrison Home Co. will post 7.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Joseph Terracciano sold 724 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $55.87, for a total value of $40,449.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CAO Joseph Terracciano sold 724 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $55.87, for a total value of $40,449.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Lyon sold 153,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $62.32, for a total value of $9,534,960.00. Following the transaction, the director now directly owns 40,570 shares in the company, valued at approximately $2,528,322.40. The disclosure for this sale can be found here. Insiders sold 613,537 shares of company stock valued at $36,409,767 in the last three months. Corporate insiders own 5.50% of the company’s stock.

Taylor Morrison Home Company 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.