Texas Permanent School Fund Sells 5,111 Shares of Taylor Morrison Home Co. (NYSE:TMHC)

Texas Permanent School Fund trimmed its position in shares of Taylor Morrison Home Co. (NYSE:TMHC – Get Rating) by 5.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 81,742 shares of the construction company’s stock after selling 5,111 shares during the quarter. Texas Permanent School Fund’s holdings in Taylor Morrison Home were worth $1,906,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TMHC. Assetmark Inc. grew its holdings in Taylor Morrison Home by 119.6% during the 2nd quarter. Assetmark Inc. now owns 1,221 shares of the construction company’s stock valued at $29,000 after purchasing an additional 665 shares during the last quarter. Lazard Asset Management LLC bought a new position in Taylor Morrison Home during the 1st quarter valued at about $44,000. Quantbot Technologies LP bought a new position in Taylor Morrison Home during the 1st quarter valued at about $77,000. Covestor Ltd grew its holdings in Taylor Morrison Home by 100.5% during the 1st quarter. Covestor Ltd now owns 3,072 shares of the construction company’s stock valued at $84,000 after purchasing an additional 1,540 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Taylor Morrison Home during the 2nd quarter valued at about $108,000. 96.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Taylor Morrison Home from $29.50 to $39.50 in a report on Tuesday, November 22nd. B. Riley dropped their target price on shares of Taylor Morrison Home from $26.00 to $25.00 in a research note on Thursday, October 27th. StockNews.com upgraded shares of Taylor Morrison Home from a “hold” rating to a “buy” rating in a research note on Tuesday. TheStreet downgraded shares of Taylor Morrison Home from a “b-” rating to a “c+” rating in a research note on Tuesday, September 27th. Finally, Barclays upped their target price on shares of Taylor Morrison Home from $30.00 to $35.00 in a research note on Wednesday, December 14th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Taylor Morrison Home currently has a consensus rating of “Hold” and an average price target of $32.36.

Insider Activity at Taylor Morrison Home

In related news, Director David C. Merritt sold 8,737 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $32.00, for a total transaction of $279,584.00. Following the completion of the sale, the director now owns 2,402 shares of the company’s stock, valued at $76,864. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Darrell Sherman sold 8,782 shares of the stock in a transaction that occurred on Tuesday, December 13th. The shares were sold at an average price of $32.31, for a total transaction of $283,746.42. Following the completion of the sale, the executive vice president now owns 100,506 shares of the company’s stock, valued at $3,247,348.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David C. Merritt sold 8,737 shares of the stock in a transaction that occurred on Wednesday, January 4th. The shares were sold at an average price of $32.00, for a total transaction of $279,584.00. Following the sale, the director now directly owns 2,402 shares of the company’s stock, valued at approximately $76,864. The disclosure for this sale can be found here. 5.20% of the stock is currently owned by corporate insiders.

Taylor Morrison Home Price Performance

Shares of TMHC opened at $32.13 on Wednesday. The company has a 50 day moving average price of $29.51 and a 200-day moving average price of $27.06. Taylor Morrison Home Co. has a fifty-two week low of $20.05 and a fifty-two week high of $33.85. The stock has a market capitalization of $3.48 billion, a PE ratio of 3.65 and a beta of 1.67. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.57 and a current ratio of 5.24.

Taylor Morrison Home (NYSE:TMHC – Get Rating) last announced its quarterly earnings results on Wednesday, October 26th. The construction company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.50 by $0.22. Taylor Morrison Home had a net margin of 12.75% and a return on equity of 24.70%. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Equities analysts predict that Taylor Morrison Home Co. will post 9.39 earnings per share for the current fiscal year.

About Taylor Morrison Home

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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 also develops and constructs multi-use properties consisting of commercial space, retail, and multi-family properties under the Urban Form brand name; and offers title insurance and closing settlement services, as well as financial services.