Canada Pension Plan Investment Board Decreases Stock Holdings in Taylor Morrison Home Co. (NYSE:TMHC)

Canada Pension Plan Investment Board lessened its stake in Taylor Morrison Home Co. (NYSE:TMHC) by 14.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 252,100 shares of the construction company’s stock after selling 44,300 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Taylor Morrison Home were worth $13,976,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its stake in shares of Taylor Morrison Home by 3.6% during the first quarter. Principal Financial Group Inc. now owns 2,065,300 shares of the construction company’s stock worth $128,400,000 after purchasing an additional 71,564 shares in the last quarter. Norges Bank acquired a new position in shares of Taylor Morrison Home during the fourth quarter valued at approximately $63,137,000. Bank of New York Mellon Corp lifted its position in shares of Taylor Morrison Home by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 1,066,470 shares of the construction company’s stock valued at $59,125,000 after acquiring an additional 4,638 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Taylor Morrison Home by 18.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 786,249 shares of the construction company’s stock worth $43,590,000 after acquiring an additional 122,864 shares during the last quarter. Finally, Wedge Capital Management L L P NC increased its position in shares of Taylor Morrison Home by 1,910.4% during the second quarter. Wedge Capital Management L L P NC now owns 727,919 shares of the construction company’s stock worth $40,356,000 after purchasing an additional 691,711 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Taylor Morrison Home Trading Up 0.5 %

NYSE TMHC opened at $70.19 on Tuesday. The company has a debt-to-equity ratio of 0.39, a current ratio of 6.01 and a quick ratio of 0.67. The stock has a market capitalization of $7.42 billion, a P/E ratio of 10.04 and a beta of 1.96. The firm’s 50-day moving average is $65.19 and its two-hundred day moving average is $60.09. Taylor Morrison Home Co. has a 12 month low of $37.23 and a 12 month high of $71.95.

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

Insiders Place Their Bets

In other news, Director William H. Lyon sold 1,741 shares of Taylor Morrison Home stock in a transaction on Monday, July 29th. The stock was sold at an average price of $68.03, for a total value of $118,440.23. Following the completion of the sale, the director now directly owns 2,195,316 shares of the company’s stock, valued at $149,347,347.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director William H. Lyon sold 1,741 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $68.03, for a total transaction of $118,440.23. Following the transaction, the director now owns 2,195,316 shares of the company’s stock, valued at approximately $149,347,347.48. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William H. Lyon sold 28,259 shares of Taylor Morrison Home stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $68.25, for a total value of $1,928,676.75. Following the completion of the transaction, the director now directly owns 2,197,057 shares of the company’s stock, valued at $149,949,140.25. The disclosure for this sale can be found here. Insiders have sold 90,072 shares of company stock worth $5,971,357 over the last ninety days. Corporate insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on TMHC shares. Royal Bank of Canada upped their target price on shares of Taylor Morrison Home from $63.00 to $74.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. BTIG Research upgraded Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $78.00 target price for the company in a report on Monday, August 19th. StockNews.com lowered Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Wedbush reaffirmed 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 raised shares of 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $70.17.

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.