Taylor Morrison Home Corporation $TMHC Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its position in Taylor Morrison Home Corporation (NYSE:TMHC) by 2.7% in the second quarter, Holdings Channel.com reports. The firm owned 788,745 shares of the construction company’s stock after selling 22,104 shares during the quarter. Bank of New York Mellon Corp’s holdings in Taylor Morrison Home were worth $48,445,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Parallel Advisors LLC raised its stake in shares of Taylor Morrison Home by 29.9% during the 2nd quarter. Parallel Advisors LLC now owns 882 shares of the construction company’s stock worth $54,000 after buying an additional 203 shares in the last quarter. IFP Advisors Inc purchased a new stake in shares of Taylor Morrison Home in the second quarter valued at approximately $65,000. Quarry LP grew its holdings in Taylor Morrison Home by 62.8% during the first quarter. Quarry LP now owns 1,146 shares of the construction company’s stock worth $69,000 after acquiring an additional 442 shares during the period. GAMMA Investing LLC raised its position in Taylor Morrison Home by 71.8% in the second quarter. GAMMA Investing LLC now owns 1,158 shares of the construction company’s stock worth $71,000 after acquiring an additional 484 shares in the last quarter. Finally, Covestor Ltd raised its position in Taylor Morrison Home by 14.9% in the first quarter. Covestor Ltd now owns 1,292 shares of the construction company’s stock worth $78,000 after acquiring an additional 168 shares in the last quarter. Institutional investors and hedge funds own 95.16% of the company’s stock.

Taylor Morrison Home Stock Performance

Shares of TMHC opened at $60.47 on Wednesday. Taylor Morrison Home Corporation has a 12-month low of $51.90 and a 12-month high of $75.49. The stock has a market cap of $5.91 billion, a P/E ratio of 7.29 and a beta of 1.58. The company has a current ratio of 7.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.35. The company has a 50-day moving average of $64.23 and a two-hundred day moving average of $62.51.

Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings data on Wednesday, October 22nd. The construction company reported $2.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.18. The firm had revenue of $94.84 million during the quarter, compared to the consensus estimate of $2.03 billion. Taylor Morrison Home had a return on equity of 15.23% and a net margin of 10.16%.The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.40 EPS. As a group, research analysts predict that Taylor Morrison Home Corporation will post 8.93 EPS for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on TMHC. Seaport Res Ptn upgraded shares of Taylor Morrison Home from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 23rd. Weiss Ratings reissued a “buy (b-)” rating on shares of Taylor Morrison Home in a report on Thursday, October 30th. Royal Bank Of Canada dropped their target price on shares of Taylor Morrison Home from $75.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, October 23rd. Wedbush reiterated an “outperform” rating and set a $85.00 price target on shares of Taylor Morrison Home in a research report on Thursday, October 23rd. Finally, Bank of America lowered their price target on Taylor Morrison Home from $75.00 to $72.00 and set a “buy” rating on the stock in a report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $75.29.

Insider Activity

In related news, Director Anne L. Mariucci sold 14,002 shares of the business’s stock in a transaction dated Thursday, September 11th. The shares were sold at an average price of $70.00, for a total value of $980,140.00. Following the completion of the transaction, the director owned 48,191 shares of the company’s stock, valued at approximately $3,373,370. The trade was a 22.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sheryl Palmer sold 13,513 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $72.06, for a total transaction of $973,746.78. Following the completion of the transaction, the chief executive officer owned 370,475 shares in the company, valued at approximately $26,696,428.50. This trade represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 57,597 shares of company stock worth $4,064,474 over the last three months. 1.40% of the stock is currently owned by corporate insiders.

Taylor Morrison Home Company 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.