Envestnet Asset Management Inc. Decreases Stake in Taylor Morrison Home Corporation $TMHC

Envestnet Asset Management Inc. lessened its holdings in shares of Taylor Morrison Home Corporation (NYSE:TMHC) by 68.5% during the third quarter, HoldingsChannel reports. The fund owned 32,605 shares of the construction company’s stock after selling 70,750 shares during the period. Envestnet Asset Management Inc.’s holdings in Taylor Morrison Home were worth $2,152,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TMHC. Long Pond Capital LP boosted its position in shares of Taylor Morrison Home by 132.4% during the 2nd quarter. Long Pond Capital LP now owns 1,561,586 shares of the construction company’s stock worth $95,913,000 after purchasing an additional 889,616 shares in the last quarter. Norges Bank acquired a new stake in shares of Taylor Morrison Home in the second quarter valued at about $93,627,000. Charles Schwab Investment Management Inc. boosted its holdings in Taylor Morrison Home by 1.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,374,540 shares of the construction company’s stock worth $84,424,000 after buying an additional 20,902 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Taylor Morrison Home by 118.0% during the second quarter. AQR Capital Management LLC now owns 1,273,418 shares of the construction company’s stock worth $77,933,000 after buying an additional 689,286 shares in the last quarter. Finally, American Century Companies Inc. grew its position in Taylor Morrison Home by 21.9% during the second quarter. American Century Companies Inc. now owns 1,069,859 shares of the construction company’s stock worth $65,711,000 after buying an additional 192,554 shares during the period. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Bank of America reiterated a “neutral” rating and set a $70.00 price target (up from $68.00) on shares of Taylor Morrison Home in a research report on Friday, January 16th. Citigroup assumed coverage on Taylor Morrison Home in a report on Wednesday, January 7th. They set an “outperform” rating for the company. Citizens Jmp began coverage on Taylor Morrison Home in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $95.00 target price on the stock. Royal Bank Of Canada raised their price target on Taylor Morrison Home from $62.00 to $68.00 and gave the company an “outperform” rating in a research report on Thursday, February 12th. Finally, Zacks Research lowered shares of Taylor Morrison Home from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 22nd. Six investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $77.17.

Taylor Morrison Home Price Performance

Shares of NYSE:TMHC opened at $65.95 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.55 and a current ratio of 7.31. The business’s fifty day moving average price is $63.20 and its two-hundred day moving average price is $63.67. The stock has a market cap of $6.44 billion, a PE ratio of 8.50, a price-to-earnings-growth ratio of 9.19 and a beta of 1.59. Taylor Morrison Home Corporation has a one year low of $51.90 and a one year high of $72.50.

Taylor Morrison Home Profile

Taylor Morrison Home Corporation (NYSE:TMHC) is a leading national homebuilder and developer specializing in the design, construction and sale of single-family detached and attached homes. The company’s portfolio spans entry-level, first-time, move-up and active-adult segments, offering buyers a diverse array of architectural styles, floor plans and personalized design options. Through its vertically integrated model, Taylor Morrison manages land acquisition, community development, construction and sales to deliver quality homes and customer-focused experiences across its markets.

The company’s heritage traces back to Morrison Homes, founded in 1977, and Taylor Woodrow, established in 1921 in the United Kingdom.