Connor Clark & Lunn Investment Management Ltd. Takes $869,000 Position in Taylor Morrison Home Corporation $TMHC

Connor Clark & Lunn Investment Management Ltd. bought a new position in Taylor Morrison Home Corporation (NYSE:TMHC) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 14,156 shares of the construction company’s stock, valued at approximately $869,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in Taylor Morrison Home by 14.4% during the first quarter. American Century Companies Inc. now owns 877,305 shares of the construction company’s stock valued at $52,673,000 after purchasing an additional 110,619 shares in the last quarter. Nuveen LLC purchased a new position in shares of Taylor Morrison Home during the 1st quarter valued at $51,329,000. Assetmark Inc. boosted its holdings in Taylor Morrison Home by 5.6% in the 2nd quarter. Assetmark Inc. now owns 827,090 shares of the construction company’s stock worth $50,800,000 after buying an additional 43,905 shares during the period. Millennium Management LLC increased its stake in Taylor Morrison Home by 27.9% in the 1st quarter. Millennium Management LLC now owns 766,261 shares of the construction company’s stock worth $46,006,000 after buying an additional 167,366 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Taylor Morrison Home by 8.6% in the 1st quarter. Ameriprise Financial Inc. now owns 696,078 shares of the construction company’s stock worth $41,795,000 after buying an additional 54,908 shares in the last quarter. Institutional investors own 95.16% of the company’s stock.

Analysts Set New Price Targets

TMHC has been the topic of several research analyst reports. Seaport Res Ptn upgraded Taylor Morrison Home from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 23rd. Wedbush reissued an “outperform” rating and issued a $85.00 price target on shares of Taylor Morrison Home in a report on Thursday, October 23rd. Royal Bank Of Canada cut their price objective 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. Bank of America lowered their target price on shares of Taylor Morrison Home from $75.00 to $72.00 and set a “buy” rating on the stock in a report on Friday, October 10th. Finally, Weiss Ratings lowered shares of Taylor Morrison Home from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, November 13th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Taylor Morrison Home has a consensus rating of “Buy” and a consensus price target of $75.29.

Taylor Morrison Home Stock Up 0.9%

Shares of TMHC opened at $58.34 on Wednesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 7.02 and a quick ratio of 1.02. The stock has a market capitalization of $5.70 billion, a price-to-earnings ratio of 7.03 and a beta of 1.58. Taylor Morrison Home Corporation has a 1 year low of $51.90 and a 1 year high of $75.49. The business’s 50 day simple moving average is $63.13 and its 200-day simple moving average is $62.57.

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

Insider Transactions at Taylor Morrison Home

In other news, CFO Curtis Vanhyfte sold 5,082 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $69.97, for a total transaction of $355,587.54. Following the sale, the chief financial officer directly owned 11,742 shares in the company, valued at approximately $821,587.74. This represents a 30.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Anne L. Mariucci sold 14,002 shares of Taylor Morrison Home stock in a transaction dated Thursday, September 11th. The stock was 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. This represents a 22.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 57,597 shares of company stock worth $4,064,474 in the last three months. Insiders own 1.40% of the company’s stock.

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.