Wells Fargo & Company MN Cuts Position in Taylor Morrison Home Corp (NYSE:TMHC)

Wells Fargo & Company MN lessened its position in shares of Taylor Morrison Home Corp (NYSE:TMHC) by 14.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 227,739 shares of the construction company’s stock after selling 36,968 shares during the quarter. Wells Fargo & Company MN’s holdings in Taylor Morrison Home were worth $4,774,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Strs Ohio purchased a new position in shares of Taylor Morrison Home in the 2nd quarter worth approximately $50,000. Penserra Capital Management LLC purchased a new position in Taylor Morrison Home during the 1st quarter valued at $59,000. Factorial Partners LLC purchased a new position in Taylor Morrison Home during the 1st quarter valued at $71,000. SG Americas Securities LLC purchased a new position in Taylor Morrison Home during the 1st quarter valued at $195,000. Finally, TD Asset Management Inc. boosted its holdings in Taylor Morrison Home by 6.2% during the 1st quarter. TD Asset Management Inc. now owns 12,125 shares of the construction company’s stock valued at $215,000 after acquiring an additional 706 shares during the period. Institutional investors and hedge funds own 98.79% of the company’s stock.

A number of equities analysts recently issued reports on the company. Wedbush restated an “outperform” rating on shares of Taylor Morrison Home in a report on Thursday. B. Riley upgraded Taylor Morrison Home from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $22.00 to $26.00 in a report on Thursday, August 1st. ValuEngine raised Taylor Morrison Home from a “sell” rating to a “hold” rating in a research report on Wednesday, September 4th. Wells Fargo & Co lifted their target price on Taylor Morrison Home from $21.00 to $24.00 and gave the company a “market perform” rating in a research report on Thursday, August 1st. Finally, Barclays lifted their target price on Taylor Morrison Home from $20.00 to $23.00 and gave the company an “equal weight” rating in a research report on Friday, July 19th. Five research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $23.22.

NYSE TMHC traded up $0.29 on Thursday, reaching $25.33. 45,939 shares of the stock traded hands, compared to its average volume of 1,334,837. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.60 and a current ratio of 7.69. The company has a fifty day moving average price of $23.36 and a 200-day moving average price of $20.61. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 1.65 and a beta of 0.92. Taylor Morrison Home Corp has a 12 month low of $14.73 and a 12 month high of $25.25.

Taylor Morrison Home (NYSE:TMHC) last issued its earnings results on Wednesday, July 31st. The construction company reported $0.76 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.63 by $0.13. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.20 billion. Taylor Morrison Home had a return on equity of 13.66% and a net margin of 5.03%. Taylor Morrison Home’s revenue was up 29.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.52 EPS. As a group, research analysts anticipate that Taylor Morrison Home Corp will post 2.76 earnings per share for the current fiscal year.

In other news, Chairman Sheryl Palmer sold 108,958 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $23.19, for a total value of $2,526,736.02. Following the completion of the transaction, the chairman now directly owns 627,386 shares of the company’s stock, valued at approximately $14,549,081.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider C. David Cone sold 21,205 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $23.06, for a total value of $488,987.30. Following the completion of the transaction, the insider now directly owns 80,230 shares of the company’s stock, valued at $1,850,103.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 469,489 shares of company stock valued at $11,086,831. 1.90% of the stock is currently owned by corporate insiders.

Taylor Morrison Home Company Profile

Taylor Morrison Home Corporation operates as a public homebuilder in the United States. The company designs, builds, and sells single-family and multi-family attached and detached homes; and develops lifestyle and master-planned communities. It operates under the Taylor Morrison and Darling Homes brand names in Arizona, California, Colorado, Florida, Georgia, Illinois, North Carolina and Texas.

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Institutional Ownership by Quarter for Taylor Morrison Home (NYSE:TMHC)

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