State of New Jersey Common Pension Fund D Sells 14,510 Shares of Taylor Morrison Home Co. (NYSE:TMHC)

State of New Jersey Common Pension Fund D lessened its position in shares of Taylor Morrison Home Co. (NYSE:TMHC) by 27.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,791 shares of the construction company’s stock after selling 14,510 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Taylor Morrison Home were worth $2,151,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Forum Financial Management LP boosted its stake in Taylor Morrison Home by 3.9% in the 2nd quarter. Forum Financial Management LP now owns 4,430 shares of the construction company’s stock valued at $246,000 after purchasing an additional 165 shares during the period. TCW Group Inc. grew its stake in shares of Taylor Morrison Home by 0.4% in the second quarter. TCW Group Inc. now owns 52,193 shares of the construction company’s stock valued at $2,894,000 after acquiring an additional 213 shares in the last quarter. Arizona State Retirement System increased its position in Taylor Morrison Home by 0.9% during the second quarter. Arizona State Retirement System now owns 29,795 shares of the construction company’s stock worth $1,652,000 after acquiring an additional 266 shares during the period. SummerHaven Investment Management LLC raised its stake in Taylor Morrison Home by 1.8% in the 2nd quarter. SummerHaven Investment Management LLC now owns 14,831 shares of the construction company’s stock worth $822,000 after purchasing an additional 267 shares in the last quarter. Finally, Hanlon Investment Management Inc. boosted its holdings in Taylor Morrison Home by 2.0% in the 2nd quarter. Hanlon Investment Management Inc. now owns 13,658 shares of the construction company’s stock valued at $757,000 after purchasing an additional 269 shares during the period. Institutional investors and hedge funds own 95.16% of the company’s stock.

Wall Street Analysts Forecast Growth

TMHC has been the subject of a number of analyst reports. BTIG Research upgraded shares of Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $78.00 price target for the company in a research report on Monday, August 19th. StockNews.com downgraded shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Raymond James initiated coverage on shares of Taylor Morrison Home in a research report on Wednesday, July 24th. They set an “outperform” rating and a $75.00 price target on the stock. Wedbush restated a “neutral” rating and set a $65.00 target price (up from $61.00) on shares of Taylor Morrison Home in a research note on Wednesday, July 24th. Finally, Zelman & Associates upgraded Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a research note on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $70.17.

Taylor Morrison Home Stock Performance

Shares of Taylor Morrison Home stock opened at $71.86 on Friday. The company’s 50 day moving average price is $64.84 and its two-hundred day moving average price is $59.88. The firm has a market capitalization of $7.49 billion, a P/E ratio of 10.28 and a beta of 1.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 6.01 and a quick ratio of 0.67. Taylor Morrison Home Co. has a fifty-two week low of $37.23 and a fifty-two week high of $71.95.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings data on Wednesday, July 24th. The construction company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.06. Taylor Morrison Home had a return on equity of 14.99% and a net margin of 9.92%. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.87 billion. On average, equities analysts forecast that Taylor Morrison Home Co. will post 8.15 earnings per share for the current fiscal year.

Insider Activity

In other news, Director William H. Lyon sold 30,000 shares of the company’s stock in a transaction that occurred on Thursday, July 18th. The stock was sold at an average price of $66.31, for a total value of $1,989,300.00. Following the completion of the transaction, the director now owns 2,225,316 shares of the company’s stock, valued at $147,560,703.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Taylor Morrison Home news, Director William H. Lyon sold 1,741 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $68.03, for a total value of $118,440.23. Following the sale, the director now owns 2,195,316 shares in the company, valued at approximately $149,347,347.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director William H. Lyon sold 30,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of $66.31, for a total value of $1,989,300.00. Following the transaction, the director now owns 2,225,316 shares of the company’s stock, valued at $147,560,703.96. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,072 shares of company stock valued at $5,971,357. 3.50% of the stock is currently owned by corporate insiders.

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.