Penserra Capital Management LLC Reduces Stock Position in Taylor Morrison Home Co. (NYSE:TMHC)

Penserra Capital Management LLC trimmed its position in Taylor Morrison Home Co. (NYSE:TMHC) by 2.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,539 shares of the construction company’s stock after selling 277 shares during the quarter. Penserra Capital Management LLC’s holdings in Taylor Morrison Home were worth $740,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Algert Global LLC increased its holdings in Taylor Morrison Home by 5.9% in the 3rd quarter. Algert Global LLC now owns 177,438 shares of the construction company’s stock worth $12,467,000 after buying an additional 9,906 shares during the period. Cerity Partners LLC increased its stake in shares of Taylor Morrison Home by 47.2% in the third quarter. Cerity Partners LLC now owns 17,689 shares of the construction company’s stock worth $1,243,000 after acquiring an additional 5,668 shares during the period. Nwam LLC acquired a new position in Taylor Morrison Home during the third quarter valued at $205,000. Citigroup Inc. lifted its holdings in shares of Taylor Morrison Home by 61.7% in the 3rd quarter. Citigroup Inc. now owns 170,960 shares of the construction company’s stock valued at $12,012,000 after buying an additional 65,252 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted 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 worth $95,696,000 after buying an additional 282,227 shares during the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Insider Activity

In related news, Director William H. Lyon sold 9,075 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $72.08, for a total transaction of $654,126.00. Following the completion of the sale, the director now directly owns 2,136,241 shares of the company’s stock, valued at approximately $153,980,251.28. This trade represents a 0.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Darrell Sherman sold 26,757 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $70.00, for a total transaction of $1,872,990.00. Following the completion of the transaction, the executive vice president now directly owns 109,217 shares in the company, valued at $7,645,190. The trade was a 19.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,621 shares of company stock valued at $9,164,869 in the last 90 days. Company insiders own 3.50% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Barclays boosted their price target on Taylor Morrison Home from $72.00 to $75.00 and gave the company an “equal weight” rating in a report on Thursday, October 24th. Raymond James reissued an “outperform” rating and set a $84.00 target price (up from $81.00) on shares of Taylor Morrison Home in a research note on Tuesday, October 29th. Wedbush upgraded Taylor Morrison Home from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $65.00 to $85.00 in a research report on Friday, October 25th. BTIG Research increased their target price on Taylor Morrison Home from $78.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, October 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. Two 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, the company presently has a consensus rating of “Moderate Buy” and an average price target of $77.33.

Taylor Morrison Home Trading Down 0.2 %

Shares of Taylor Morrison Home stock opened at $74.01 on Thursday. Taylor Morrison Home Co. has a 1-year low of $44.32 and a 1-year high of $75.49. The stock has a market cap of $7.66 billion, a P/E ratio of 9.79 and a beta of 1.96. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.24 and a quick ratio of 0.69. The stock’s 50 day simple moving average is $69.74 and its 200-day simple moving average is $63.94.

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

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.