Retirement Systems of Alabama Sells 11,965 Shares of Taylor Morrison Home Corporation (NYSE:TMHC)

Retirement Systems of Alabama lessened its stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC) by 4.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 268,055 shares of the construction company’s stock after selling 11,965 shares during the period. Retirement Systems of Alabama’s holdings in Taylor Morrison Home were worth $16,094,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of TMHC. Norges Bank acquired a new position in shares of Taylor Morrison Home during the 4th quarter valued at $93,810,000. Assenagon Asset Management S.A. lifted its position in shares of Taylor Morrison Home by 80.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 912,064 shares of the construction company’s stock valued at $54,760,000 after acquiring an additional 405,875 shares during the period. Boston Partners lifted its position in shares of Taylor Morrison Home by 88.7% during the 4th quarter. Boston Partners now owns 594,347 shares of the construction company’s stock valued at $36,794,000 after acquiring an additional 279,361 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Taylor Morrison Home during the 4th quarter valued at $14,736,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of Taylor Morrison Home during the 4th quarter valued at $13,332,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analyst Ratings Changes

TMHC has been the topic of a number of research reports. Seaport Res Ptn upgraded shares of Taylor Morrison Home from a “strong sell” rating to a “hold” rating in a research report on Thursday, March 6th. Wall Street Zen downgraded shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a research report on Sunday, June 1st. Barclays set a $69.00 target price on shares of Taylor Morrison Home and gave the company an “overweight” rating in a research report on Thursday, April 24th. Bank of America assumed coverage on shares of Taylor Morrison Home in a report on Monday, May 5th. They set a “buy” rating and a $70.00 price objective on the stock. Finally, Wedbush restated an “outperform” rating and set a $85.00 price objective on shares of Taylor Morrison Home in a report on Wednesday, April 23rd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Taylor Morrison Home presently has a consensus rating of “Moderate Buy” and an average target price of $76.88.

Taylor Morrison Home Stock Performance

Shares of TMHC stock opened at $58.73 on Friday. The firm has a 50-day moving average of $57.77 and a 200-day moving average of $60.52. The company has a market cap of $5.90 billion, a P/E ratio of 6.83 and a beta of 1.57. The company has a debt-to-equity ratio of 0.35, a current ratio of 6.45 and a quick ratio of 0.86. 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 announced its earnings results on Wednesday, April 23rd. The construction company reported $2.18 EPS for the quarter, beating the consensus estimate of $1.85 by $0.33. The company had revenue of $1.90 billion during the quarter, compared to the consensus estimate of $1.81 billion. Taylor Morrison Home had a net margin of 10.84% and a return on equity of 16.72%. The firm’s revenue for the quarter was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.75 earnings per share. Equities research analysts forecast that Taylor Morrison Home Corporation will post 8.93 EPS for the current fiscal year.

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.