Fisher Asset Management LLC Cuts Stock Position in Taylor Morrison Home Corporation $TMHC

Fisher Asset Management LLC trimmed its stake in shares of Taylor Morrison Home Corporation (NYSE:TMHC) by 63.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 456,676 shares of the construction company’s stock after selling 789,299 shares during the period. Fisher Asset Management LLC’s holdings in Taylor Morrison Home were worth $28,049,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Atlantic Union Bankshares Corp acquired a new position in shares of Taylor Morrison Home during the 2nd quarter worth about $28,000. AlphaCore Capital LLC acquired a new position in shares of Taylor Morrison Home during the second quarter valued at approximately $37,000. Parallel Advisors LLC raised its holdings in shares of Taylor Morrison Home by 29.9% during the second quarter. Parallel Advisors LLC now owns 882 shares of the construction company’s stock valued at $54,000 after acquiring an additional 203 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Taylor Morrison Home by 30.7% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 899 shares of the construction company’s stock valued at $55,000 after acquiring an additional 211 shares in the last quarter. Finally, IFP Advisors Inc acquired a new stake in shares of Taylor Morrison Home in the second quarter worth approximately $65,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Insider Activity

In related news, Director Anne L. Mariucci sold 14,002 shares of the stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $70.00, for a total transaction of $980,140.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Sheryl Palmer sold 13,513 shares of Taylor Morrison Home stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $72.06, for a total transaction of $973,746.78. Following the completion of the sale, the chief executive officer owned 370,475 shares of the company’s stock, valued at $26,696,428.50. This trade represents a 3.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 1.40% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on TMHC shares. Bank of America reduced their price objective on Taylor Morrison Home from $75.00 to $72.00 and set a “buy” rating for the company in a research note on Friday, October 10th. Royal Bank Of Canada reduced their target price on shares of Taylor Morrison Home from $75.00 to $68.00 and set an “outperform” rating for the company in a research report on Thursday, October 23rd. Weiss Ratings upgraded shares of Taylor Morrison Home from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday. Finally, Wedbush reiterated an “outperform” rating and issued a $85.00 price objective on shares of Taylor Morrison Home in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to MarketBeat.com, Taylor Morrison Home has a consensus rating of “Buy” and a consensus price target of $75.29.

Taylor Morrison Home Price Performance

NYSE:TMHC opened at $63.05 on Wednesday. Taylor Morrison Home Corporation has a 52 week low of $51.90 and a 52 week high of $73.58. The stock’s fifty day moving average is $61.73 and its two-hundred day moving average is $62.72. The company has a market capitalization of $6.16 billion, a P/E ratio of 7.60 and a beta of 1.58. The company has a quick ratio of 1.02, a current ratio of 7.02 and a debt-to-equity ratio of 0.35.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings results on Wednesday, October 22nd. The construction company reported $2.11 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.18. The business had revenue of $2.10 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Taylor Morrison Home had a return on equity of 15.23% and a net margin of 10.16%.The company’s revenue was down 1.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.40 EPS. Equities analysts expect that Taylor Morrison Home Corporation will post 8.93 EPS for the current year.

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 develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name.