Texas Permanent School Fund Corp Lowers Stake in Taylor Morrison Home Co. (NYSE:TMHC)

Texas Permanent School Fund Corp lowered its stake in shares of Taylor Morrison Home Co. (NYSE:TMHC) by 11.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 83,043 shares of the construction company’s stock after selling 10,995 shares during the period. Texas Permanent School Fund Corp’s holdings in Taylor Morrison Home were worth $4,604,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in TMHC. Norges Bank acquired a new stake in Taylor Morrison Home during the 4th quarter worth approximately $63,137,000. Wedge Capital Management L L P NC lifted its holdings in Taylor Morrison Home by 1,910.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 727,919 shares of the construction company’s stock worth $40,356,000 after buying an additional 691,711 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Taylor Morrison Home by 4,586.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 663,385 shares of the construction company’s stock worth $41,243,000 after buying an additional 649,230 shares in the last quarter. Assetmark Inc. lifted its holdings in Taylor Morrison Home by 99.3% during the 4th quarter. Assetmark Inc. now owns 786,812 shares of the construction company’s stock worth $41,976,000 after buying an additional 391,964 shares in the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in Taylor Morrison Home by 203.0% during the 1st quarter. Lord Abbett & CO. LLC now owns 440,717 shares of the construction company’s stock worth $27,400,000 after buying an additional 295,256 shares in the last quarter. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Taylor Morrison Home news, Director William H. Lyon sold 30,000 shares of the firm’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 transaction, the director now directly owns 2,225,316 shares of the company’s stock, valued at approximately $147,560,703.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Taylor Morrison Home news, Director William H. Lyon sold 30,000 shares of the firm’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 transaction, the director now directly owns 2,225,316 shares of the company’s stock, valued at approximately $147,560,703.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William H. Lyon sold 28,259 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $68.25, for a total transaction of $1,928,676.75. Following the transaction, the director now directly owns 2,197,057 shares in the company, valued at $149,949,140.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,000 shares of company stock valued at $5,966,317. Insiders own 3.50% of the company’s stock.

Taylor Morrison Home Price Performance

Shares of NYSE:TMHC opened at $68.66 on Friday. The company’s fifty day moving average price is $63.68 and its 200 day moving average price is $59.50. Taylor Morrison Home Co. has a 12 month low of $37.23 and a 12 month high of $69.62. The company has a debt-to-equity ratio of 0.39, a current ratio of 6.01 and a quick ratio of 0.67. The firm has a market capitalization of $7.16 billion, a P/E ratio of 9.82 and a beta of 1.96.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. BTIG Research upgraded shares of Taylor Morrison Home from a “neutral” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Monday, August 19th. Raymond James assumed coverage on shares of Taylor Morrison Home in a report on Wednesday, July 24th. They issued an “outperform” rating and a $75.00 price objective on the stock. Zelman & Associates upgraded shares of Taylor Morrison Home from a “neutral” rating to an “outperform” rating in a report on Monday, August 12th. Royal Bank of Canada raised their price objective on shares of Taylor Morrison Home from $63.00 to $74.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, StockNews.com lowered shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.17.

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.