The Manufacturers Life Insurance Company Sells 6,089 Shares of Taylor Morrison Home Co. (NYSE:TMHC)

The Manufacturers Life Insurance Company cut its stake in Taylor Morrison Home Co. (NYSE:TMHC) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 120,988 shares of the construction company’s stock after selling 6,089 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.12% of Taylor Morrison Home worth $8,501,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Wedge Capital Management L L P NC lifted its stake in shares of Taylor Morrison Home by 1,910.4% in 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 buying an additional 691,711 shares during the period. Assenagon Asset Management S.A. lifted its position in shares of Taylor Morrison Home by 271.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 896,032 shares of the construction company’s stock worth $62,955,000 after acquiring an additional 654,541 shares during the period. Vision Capital Corp acquired a new stake in shares of Taylor Morrison Home during the 3rd quarter worth approximately $38,173,000. Charles Schwab Investment Management Inc. raised its stake in shares of Taylor Morrison Home by 26.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,362,020 shares of the construction company’s stock valued at $95,696,000 after purchasing an additional 282,227 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised 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 valued at $43,590,000 after purchasing an additional 122,864 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Taylor Morrison Home Trading Down 0.4 %

Shares of TMHC opened at $72.90 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.69 and a current ratio of 6.24. The company has a market cap of $7.54 billion, a price-to-earnings ratio of 9.64 and a beta of 1.97. The stock has a fifty day moving average price of $69.99 and a two-hundred day moving average price of $64.34. Taylor Morrison Home Co. has a 52-week low of $45.81 and a 52-week high of $75.49.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TMHC. Barclays upped their target price on shares of Taylor Morrison Home from $72.00 to $75.00 and gave the company an “equal weight” rating in a research note on Thursday, October 24th. BTIG Research increased their target price on Taylor Morrison Home from $78.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Royal Bank of Canada raised their target price on Taylor Morrison Home from $74.00 to $77.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. StockNews.com upgraded Taylor Morrison Home from a “hold” rating to a “buy” rating in a research report on Thursday, October 24th. Finally, Raymond James reissued an “outperform” rating and set a $84.00 price objective (up from $81.00) on shares of Taylor Morrison Home in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Taylor Morrison Home presently has an average rating of “Moderate Buy” and an average target price of $77.33.

Insider Transactions at Taylor Morrison Home

In related news, EVP Darrell Sherman sold 26,757 shares of Taylor Morrison Home stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $70.00, for a total value of $1,872,990.00. Following the completion of the sale, the executive vice president now directly owns 109,217 shares in the company, valued at $7,645,190. This trade represents a 19.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William H. Lyon sold 24,284 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $74.46, for a total transaction of $1,808,186.64. Following the transaction, the director now owns 2,045,316 shares in the company, valued at approximately $152,294,229.36. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,621 shares of company stock worth $9,164,869. Corporate insiders own 3.50% of the company’s stock.

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.