Connor Clark & Lunn Investment Management Ltd. Takes $1.20 Million Position in Taylor Morrison Home Co. (NYSE:TMHC)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Taylor Morrison Home Co. (NYSE:TMHC) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 17,006 shares of the construction company’s stock, valued at approximately $1,195,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. lifted its holdings in Taylor Morrison Home by 3.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,051,580 shares of the construction company’s stock worth $144,144,000 after buying an additional 69,222 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Taylor Morrison Home by 0.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,066,470 shares of the construction company’s stock worth $59,125,000 after acquiring an additional 4,638 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in Taylor Morrison Home by 271.0% during the third quarter. Assenagon Asset Management S.A. now owns 896,032 shares of the construction company’s stock worth $62,955,000 after purchasing an additional 654,541 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Taylor Morrison Home by 7.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 846,270 shares of the construction company’s stock valued at $59,459,000 after purchasing an additional 60,021 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its stake in Taylor Morrison Home by 1.5% in the third quarter. Wedge Capital Management L L P NC now owns 738,830 shares of the construction company’s stock valued at $51,910,000 after purchasing an additional 10,911 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Taylor Morrison Home Stock Performance

Shares of TMHC stock opened at $74.11 on Wednesday. The stock’s 50-day moving average price is $69.65 and its 200 day moving average price is $63.87. The company has a quick ratio of 0.69, a current ratio of 6.24 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $7.67 billion, a PE ratio of 9.80 and a beta of 1.96. Taylor Morrison Home Co. has a 52-week low of $44.32 and a 52-week high of $75.49.

Taylor Morrison Home (NYSE:TMHC) last released its quarterly earnings results on Wednesday, October 23rd. The construction company reported $2.37 EPS for the quarter, topping the consensus estimate of $2.06 by $0.31. Taylor Morrison Home had a return on equity of 15.91% and a net margin of 10.39%. The business had revenue of $2.12 billion during the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the business earned $1.62 earnings per share. The company’s quarterly revenue was up 26.6% compared to the same quarter last year. As a group, equities research analysts forecast that Taylor Morrison Home Co. will post 8.44 EPS for the current year.

Insider Activity

In other news, EVP Darrell Sherman sold 68,433 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $70.50, for a total value of $4,824,526.50. Following the completion of the sale, the executive vice president now directly owns 109,217 shares of the company’s stock, valued at $7,699,798.50. This trade represents a 38.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William H. Lyon sold 9,075 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $72.08, for a total value of $654,126.00. Following the transaction, the director now directly owns 2,136,241 shares in the company, valued at $153,980,251.28. This represents a 0.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 104,337 shares of company stock valued at $7,356,683 over the last quarter. Corporate insiders own 3.50% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on TMHC. BTIG Research boosted their price objective on shares of Taylor Morrison Home from $78.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Raymond James restated an “outperform” rating and issued a $84.00 price objective (up previously from $81.00) on shares of Taylor Morrison Home in a research note on Tuesday, October 29th. Barclays lifted their target price on Taylor Morrison Home from $72.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 24th. Royal Bank of Canada upped their target price on Taylor Morrison Home from $74.00 to $77.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Finally, Zelman & Associates raised Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a research report on Monday, August 12th. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.33.

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.