Skandinaviska Enskilda Banken AB publ Decreases Position in Taylor Morrison Home Co. (NYSE:TMHC)

Skandinaviska Enskilda Banken AB publ trimmed its stake in shares of Taylor Morrison Home Co. (NYSE:TMHC) by 28.8% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 293,600 shares of the construction company’s stock after selling 118,900 shares during the period. Skandinaviska Enskilda Banken AB publ owned approximately 0.28% of Taylor Morrison Home worth $16,277,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Rise Advisors LLC purchased a new position in shares of Taylor Morrison Home during the first quarter valued at approximately $26,000. ICA Group Wealth Management LLC purchased a new position in shares of Taylor Morrison Home during the fourth quarter valued at approximately $27,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Taylor Morrison Home during the second quarter valued at approximately $31,000. Fidelis Capital Partners LLC purchased a new position in shares of Taylor Morrison Home during the first quarter valued at approximately $82,000. Finally, Meeder Asset Management Inc. purchased a new position in shares of Taylor Morrison Home during the first quarter valued at approximately $91,000. 95.16% of the stock is owned by hedge funds and other institutional investors.

Taylor Morrison Home Stock Performance

TMHC opened at $69.87 on Friday. The firm has a market cap of $7.28 billion, a P/E ratio of 10.00 and a beta of 1.96. Taylor Morrison Home Co. has a 1-year low of $37.23 and a 1-year high of $71.95. The company has a 50 day simple moving average of $65.02 and a two-hundred day simple moving average of $59.96. The company has a debt-to-equity ratio of 0.39, a current ratio of 6.01 and a quick ratio of 0.67.

Taylor Morrison Home (NYSE:TMHC) last posted its quarterly earnings results on Wednesday, July 24th. The construction company reported $1.97 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.06. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.87 billion. Taylor Morrison Home had a net margin of 9.92% and a return on equity of 14.99%. Equities analysts forecast that Taylor Morrison Home Co. will post 8.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Taylor Morrison Home news, Director William H. Lyon sold 1,741 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $68.03, for a total value of $118,440.23. Following the completion of the transaction, the director now directly owns 2,195,316 shares in the company, valued at $149,347,347.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director William H. Lyon sold 30,000 shares of the company’s stock in a transaction on Thursday, July 18th. The shares were sold at an average price of $66.31, for a total transaction of $1,989,300.00. Following the completion of the transaction, the director now owns 2,225,316 shares in the company, valued at $147,560,703.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director William H. Lyon sold 1,741 shares of the company’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $68.03, for a total transaction of $118,440.23. Following the transaction, the director now owns 2,195,316 shares of the company’s stock, valued at approximately $149,347,347.48. The disclosure for this sale can be found here. Insiders sold a total of 90,072 shares of company stock worth $5,971,357 over the last three months. 3.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TMHC. StockNews.com cut shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Wedbush restated a “neutral” rating and set a $65.00 target price (up from $61.00) on shares of Taylor Morrison Home in a research report on Wednesday, July 24th. Barclays boosted their target price on shares of Taylor Morrison Home from $62.00 to $72.00 and gave the company an “equal weight” rating in a research report on Thursday, July 25th. Royal Bank of Canada boosted their target price on shares of Taylor Morrison Home from $63.00 to $74.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, Zelman & Associates upgraded shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a research report on Monday, August 12th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.17.

About Taylor Morrison Home

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.