Penserra Capital Management LLC Decreases Position in Taylor Morrison Home Co. (NYSE:TMHC)

Penserra Capital Management LLC reduced its stake in Taylor Morrison Home Co. (NYSE:TMHC) by 2.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 10,539 shares of the construction company’s stock after selling 277 shares during the period. Penserra Capital Management LLC’s holdings in Taylor Morrison Home were worth $740,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its position in Taylor Morrison Home by 3.5% during the third quarter. Principal Financial Group Inc. now owns 2,051,580 shares of the construction company’s stock worth $144,144,000 after buying an additional 69,222 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Taylor Morrison Home by 26.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,362,020 shares of the construction company’s stock valued at $95,696,000 after buying an additional 282,227 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Taylor Morrison Home by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 1,066,470 shares of the construction company’s stock worth $59,125,000 after buying an additional 4,638 shares during the period. Assenagon Asset Management S.A. grew its holdings in shares of Taylor Morrison Home by 271.0% during the third quarter. Assenagon Asset Management S.A. now owns 896,032 shares of the construction company’s stock worth $62,955,000 after buying an additional 654,541 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Taylor Morrison Home by 7.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 846,270 shares of the construction company’s stock valued at $59,459,000 after purchasing an additional 60,021 shares during the period. 95.16% of the stock is currently owned by institutional investors and hedge funds.

Taylor Morrison Home Stock Down 0.2 %

TMHC stock opened at $74.01 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 6.24 and a quick ratio of 0.69. The company’s 50 day simple moving average is $69.74 and its 200-day simple moving average is $63.94. Taylor Morrison Home Co. has a 12 month low of $44.32 and a 12 month high of $75.49. The firm has a market capitalization of $7.66 billion, a PE ratio of 9.79 and a beta of 1.96.

Taylor Morrison Home (NYSE:TMHC) last announced its earnings results on Wednesday, October 23rd. The construction company reported $2.37 EPS for the quarter, beating analysts’ consensus estimates of $2.06 by $0.31. Taylor Morrison Home had a return on equity of 15.91% and a net margin of 10.39%. The firm had revenue of $2.12 billion for the quarter, compared to analysts’ expectations of $1.96 billion. During the same quarter in the prior year, the firm earned $1.62 EPS. Taylor Morrison Home’s quarterly revenue was up 26.6% on a year-over-year basis. Equities analysts expect that Taylor Morrison Home Co. will post 8.44 earnings per share for the current fiscal year.

Insider Activity at Taylor Morrison Home

In related news, EVP Darrell Sherman sold 68,433 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $70.50, for a total transaction of $4,824,526.50. Following the sale, the executive vice president now owns 109,217 shares in the company, valued at approximately $7,699,798.50. This trade represents a 38.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director William H. Lyon sold 24,284 shares of Taylor Morrison Home stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $74.46, for a total transaction 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 $152,294,229.36. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,621 shares of company stock valued at $9,164,869 over the last quarter. Insiders own 3.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on TMHC shares. StockNews.com upgraded shares of Taylor Morrison Home from a “hold” rating to a “buy” rating in a research report on Thursday, October 24th. Barclays upped their price objective on Taylor Morrison Home from $72.00 to $75.00 and gave the stock an “equal weight” rating in a report on Thursday, October 24th. Raymond James reissued an “outperform” rating and issued a $84.00 target price (up previously from $81.00) on shares of Taylor Morrison Home in a report on Tuesday, October 29th. Royal Bank of Canada upped their price target on shares of Taylor Morrison Home from $74.00 to $77.00 and gave the stock an “outperform” rating in a research note on Thursday, October 24th. Finally, BTIG Research lifted their price target on shares of Taylor Morrison Home from $78.00 to $86.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating and seven have issued 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.

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.