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

The Manufacturers Life Insurance Company reduced its stake in shares of Taylor Morrison Home Co. (NYSE:TMHC) by 4.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 120,988 shares of the construction company’s stock after selling 6,089 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Taylor Morrison Home were worth $8,501,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vision Capital Corp bought a new position in Taylor Morrison Home during the 3rd quarter worth approximately $38,173,000. Harvest Fund Management Co. Ltd raised its holdings in Taylor Morrison Home by 121.1% in the third quarter. Harvest Fund Management Co. Ltd now owns 4,190 shares of the construction company’s stock worth $294,000 after purchasing an additional 2,295 shares during the period. Fisher Asset Management LLC boosted its position in shares of Taylor Morrison Home by 2.5% during the third quarter. Fisher Asset Management LLC now owns 1,151,977 shares of the construction company’s stock worth $80,938,000 after purchasing an additional 28,166 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Taylor Morrison Home by 67.6% in the 3rd quarter. Daiwa Securities Group Inc. now owns 11,900 shares of the construction company’s stock valued at $836,000 after buying an additional 4,800 shares during the period. Finally, Alpha DNA Investment Management LLC increased its position in shares of Taylor Morrison Home by 13.2% in the 3rd quarter. Alpha DNA Investment Management LLC now owns 6,831 shares of the construction company’s stock valued at $480,000 after buying an additional 797 shares in the last quarter. 95.16% of the stock is owned by institutional investors.

Taylor Morrison Home Price Performance

NYSE TMHC opened at $72.90 on Wednesday. Taylor Morrison Home Co. has a 12-month low of $45.81 and a 12-month high of $75.49. The firm’s 50 day moving average is $69.99 and its 200-day moving average is $64.34. The company has a market capitalization of $7.54 billion, a PE ratio of 9.64 and a beta of 1.97. The company has a quick ratio of 0.69, a current ratio of 6.24 and a debt-to-equity ratio of 0.37.

Taylor Morrison Home (NYSE:TMHC) last issued 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 firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.62 EPS. Equities research analysts anticipate that Taylor Morrison Home Co. will post 8.44 earnings per share for the current fiscal year.

Insider Activity at Taylor Morrison Home

In other news, Director William H. Lyon sold 9,075 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $72.08, for a total value of $654,126.00. Following the sale, the director now directly owns 2,136,241 shares of the company’s stock, valued at approximately $153,980,251.28. This 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 the SEC website. Also, 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 transaction, the executive vice president now owns 109,217 shares of the company’s stock, valued at $7,645,190. The trade was a 19.68 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 128,621 shares of company stock valued at $9,164,869. Insiders own 3.50% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on TMHC. Raymond James reiterated an “outperform” rating and set a $84.00 target price (up from $81.00) on shares of Taylor Morrison Home in a report on Tuesday, October 29th. Barclays lifted their price objective 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. Zelman & Associates raised Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a research note on Monday, August 12th. BTIG Research raised their target price on shares of Taylor Morrison Home from $78.00 to $86.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, Wedbush upgraded shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating and upped their price target for the company from $65.00 to $85.00 in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $77.33.

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.