Geode Capital Management LLC Decreases Stake in Taylor Morrison Home Co. (NYSE:TMHC)

Geode Capital Management LLC decreased its holdings in Taylor Morrison Home Co. (NYSE:TMHC) by 12.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,479,095 shares of the construction company’s stock after selling 365,079 shares during the quarter. Geode Capital Management LLC’s holdings in Taylor Morrison Home were worth $174,215,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in shares of Taylor Morrison Home in the third quarter worth $29,000. Harbor Capital Advisors Inc. acquired a new stake in Taylor Morrison Home in the 3rd quarter valued at $34,000. UMB Bank n.a. increased its holdings in Taylor Morrison Home by 263.9% in the 3rd quarter. UMB Bank n.a. now owns 535 shares of the construction company’s stock valued at $38,000 after purchasing an additional 388 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in Taylor Morrison Home in the third quarter valued at about $62,000. Finally, Ashton Thomas Private Wealth LLC purchased a new stake in shares of Taylor Morrison Home in the second quarter worth about $100,000. 95.16% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Barclays raised Taylor Morrison Home from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $75.00 to $90.00 in a research report on Wednesday, December 11th. JPMorgan Chase & Co. lowered their price target on shares of Taylor Morrison Home from $101.00 to $90.00 and set an “overweight” rating for the company in a report on Friday. StockNews.com upgraded shares of Taylor Morrison Home from a “hold” rating to a “buy” rating in a report on Thursday, October 24th. Raymond James restated 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. Finally, BTIG Research boosted their price target on Taylor Morrison Home from $78.00 to $86.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $85.33.

Insider Activity at Taylor Morrison Home

In other news, Director William H. Lyon sold 24,284 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $74.46, for a total value of $1,808,186.64. Following the completion of the sale, the director now directly owns 2,045,316 shares of the company’s stock, valued at approximately $152,294,229.36. This represents a 1.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Darrell Sherman sold 26,757 shares of the firm’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 109,217 shares in the company, valued at $7,645,190. This represents a 19.68 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,621 shares of company stock worth $9,164,869 in the last three months. 3.50% of the stock is owned by company insiders.

Taylor Morrison Home Trading Down 3.6 %

Shares of NYSE TMHC opened at $64.72 on Monday. Taylor Morrison Home Co. has a 12-month low of $49.98 and a 12-month high of $75.49. The company has a market cap of $6.70 billion, a price-to-earnings ratio of 8.56 and a beta of 1.97. The company has a current ratio of 6.24, a quick ratio of 0.69 and a debt-to-equity ratio of 0.37. The stock’s 50 day simple moving average is $69.82 and its 200 day simple moving average is $64.87.

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. The business had revenue of $2.12 billion during the quarter, compared to analyst estimates of $1.96 billion. Taylor Morrison Home had a net margin of 10.39% and a return on equity of 15.91%. The company’s quarterly revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.62 earnings per share. Equities research analysts expect that Taylor Morrison Home Co. will post 8.44 EPS for the current year.

Taylor Morrison Home 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.