Bank of New York Mellon Corp Sells 26,241 Shares of Taylor Morrison Home Corporation $TMHC

Bank of New York Mellon Corp reduced its stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC) by 3.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 716,225 shares of the construction company’s stock after selling 26,241 shares during the quarter. Bank of New York Mellon Corp owned 0.77% of Taylor Morrison Home worth $41,713,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. State of Michigan Retirement System increased its position in shares of Taylor Morrison Home by 1.7% during the first quarter. State of Michigan Retirement System now owns 23,495 shares of the construction company’s stock valued at $1,368,000 after purchasing an additional 400 shares during the period. Citizens Financial Group Inc. RI bought a new position in shares of Taylor Morrison Home during the 1st quarter worth about $210,000. Fifth Third Bancorp lifted its holdings in shares of Taylor Morrison Home by 2,914.8% during the 1st quarter. Fifth Third Bancorp now owns 25,053 shares of the construction company’s stock worth $1,459,000 after acquiring an additional 24,222 shares during the period. Sequoia Financial Advisors LLC boosted its position in shares of Taylor Morrison Home by 14.5% during the 1st quarter. Sequoia Financial Advisors LLC now owns 19,313 shares of the construction company’s stock valued at $1,125,000 after acquiring an additional 2,451 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its stake in Taylor Morrison Home by 3.1% in the first quarter. Oregon Public Employees Retirement Fund now owns 20,077 shares of the construction company’s stock valued at $1,169,000 after acquiring an additional 600 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wolfe Research downgraded Taylor Morrison Home from an “outperform” rating to a “peer perform” rating in a report on Wednesday, June 10th. Zacks Research raised Taylor Morrison Home from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 22nd. Bank of America cut their target price on Taylor Morrison Home from $72.00 to $68.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Barclays reaffirmed an “equal weight” rating and issued a $73.00 price target (up from $69.00) on shares of Taylor Morrison Home in a research note on Tuesday, July 14th. Finally, Truist Financial dropped their price objective on Taylor Morrison Home from $80.00 to $72.50 and set a “buy” rating for the company in a research note on Monday, June 1st. Two research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $77.43.

Taylor Morrison Home Stock Up 0.0%

NYSE:TMHC opened at $72.46 on Friday. Taylor Morrison Home Corporation has a 12-month low of $54.15 and a 12-month high of $72.50. The company has a quick ratio of 1.45, a current ratio of 7.66 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $6.77 billion, a P/E ratio of 10.81, a P/E/G ratio of 1.70 and a beta of 1.44. The stock’s fifty day simple moving average is $69.04 and its 200-day simple moving average is $64.27.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings data on Wednesday, April 22nd. The construction company reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.82 by $0.30. Taylor Morrison Home had a return on equity of 11.48% and a net margin of 8.77%.The business had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the company posted $2.07 earnings per share. The firm’s revenue was down 26.8% on a year-over-year basis. Equities research analysts expect that Taylor Morrison Home Corporation will post 5.26 earnings per share for the current year.

About Taylor Morrison Home

Taylor Morrison Home Corporation (NYSE:TMHC) is a leading national homebuilder and developer specializing in the design, construction and sale of single-family detached and attached homes. The company’s portfolio spans entry-level, first-time, move-up and active-adult segments, offering buyers a diverse array of architectural styles, floor plans and personalized design options. Through its vertically integrated model, Taylor Morrison manages land acquisition, community development, construction and sales to deliver quality homes and customer-focused experiences across its markets.

The company’s heritage traces back to Morrison Homes, founded in 1977, and Taylor Woodrow, established in 1921 in the United Kingdom.