Envestnet Asset Management Inc. Buys 44,090 Shares of Taylor Morrison Home Co. (NYSE:TMHC)

Envestnet Asset Management Inc. boosted its stake in Taylor Morrison Home Co. (NYSE:TMHC) by 44.4% during the 2nd quarter, HoldingsChannel reports. The fund owned 143,303 shares of the construction company’s stock after acquiring an additional 44,090 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Taylor Morrison Home were worth $7,945,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. grew its stake in Taylor Morrison Home by 3.6% in the 1st quarter. Principal Financial Group Inc. now owns 2,065,300 shares of the construction company’s stock valued at $128,400,000 after buying an additional 71,564 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Taylor Morrison Home by 0.4% in the 2nd 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 purchasing an additional 4,638 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Taylor Morrison Home by 18.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 786,249 shares of the construction company’s stock valued at $43,590,000 after purchasing an additional 122,864 shares during the last quarter. Wedge Capital Management L L P NC raised its stake 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 valued at $40,356,000 after acquiring an additional 691,711 shares during the last quarter. Finally, Hodges Capital Management Inc. raised its stake in shares of Taylor Morrison Home by 26.4% during the second quarter. Hodges Capital Management Inc. now owns 447,918 shares of the construction company’s stock valued at $24,833,000 after acquiring an additional 93,567 shares during the last quarter. 95.16% of the stock is owned by institutional investors.

Insider Activity

In other news, Director William H. Lyon sold 30,000 shares of the firm’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of $66.31, for a total transaction of $1,989,300.00. Following the sale, the director now owns 2,225,316 shares of the company’s stock, valued at approximately $147,560,703.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director William H. Lyon sold 30,000 shares of the stock in a transaction that occurred on Thursday, July 18th. The shares were 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 in the company, valued at approximately $147,560,703.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William H. Lyon sold 1,741 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $68.03, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 90,072 shares of company stock valued at $5,971,357 in the last 90 days. 3.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of Taylor Morrison Home from $63.00 to $74.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. StockNews.com lowered shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Raymond James started coverage on shares of Taylor Morrison Home in a research report on Wednesday, July 24th. They issued an “outperform” rating and a $75.00 price objective on the stock. Barclays lifted their price objective on shares of Taylor Morrison Home from $62.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 25th. Finally, Zelman & Associates raised shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a research report 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.17.

Taylor Morrison Home Stock Performance

Shares of TMHC stock opened at $70.27 on Friday. Taylor Morrison Home Co. has a one year low of $37.23 and a one year high of $71.95. The company’s 50-day moving average is $65.56 and its 200 day moving average is $60.37. The company has a market capitalization of $7.32 billion, a price-to-earnings ratio of 10.05 and a beta of 1.96. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.67 and a current ratio of 6.01.

Taylor Morrison Home (NYSE:TMHC) last announced its quarterly earnings data on Wednesday, July 24th. The construction company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.91 by $0.06. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.87 billion. Taylor Morrison Home had a net margin of 9.92% and a return on equity of 14.99%. Sell-side analysts expect that Taylor Morrison Home Co. will post 8.15 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.