Royal Bank of Canada Lowers Stake in Taylor Morrison Home Corporation $TMHC

Royal Bank of Canada cut its stake in Taylor Morrison Home Corporation (NYSE:TMHC) by 70.9% during the first quarter, HoldingsChannel reports. The firm owned 27,178 shares of the construction company’s stock after selling 66,113 shares during the period. Royal Bank of Canada’s holdings in Taylor Morrison Home were worth $1,582,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. M&T Bank Corp boosted its position in Taylor Morrison Home by 28,246.3% in the 4th quarter. M&T Bank Corp now owns 1,058,169 shares of the construction company’s stock valued at $62,294,000 after buying an additional 1,054,436 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Taylor Morrison Home in the 4th quarter worth about $624,000. Landscape Capital Management L.L.C. increased its position in shares of Taylor Morrison Home by 95.0% during the fourth quarter. Landscape Capital Management L.L.C. now owns 26,103 shares of the construction company’s stock worth $1,537,000 after acquiring an additional 12,715 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in shares of Taylor Morrison Home by 10.4% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 716,925 shares of the construction company’s stock worth $41,754,000 after acquiring an additional 67,785 shares during the period. Finally, Teacher Retirement System of Texas raised its stake in shares of Taylor Morrison Home by 12.6% during the fourth quarter. Teacher Retirement System of Texas now owns 145,007 shares of the construction company’s stock valued at $8,537,000 after acquiring an additional 16,242 shares in the last quarter. Hedge funds and other institutional investors own 95.16% of the company’s stock.

Taylor Morrison Home Stock Performance

Shares of NYSE:TMHC opened at $72.45 on Thursday. The firm has a 50 day moving average of $72.12 and a 200 day moving average of $65.56. The company has a quick ratio of 1.45, a current ratio of 7.66 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $6.77 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 1.70 and a beta of 1.44. Taylor Morrison Home Corporation has a 52 week low of $54.15 and a 52 week high of $72.50.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TMHC. Royal Bank Of Canada lowered Taylor Morrison Home from an “outperform” rating to a “sector perform” rating and boosted their price target for the company from $69.00 to $72.50 in a report on Tuesday, June 2nd. Citigroup lowered Taylor Morrison Home from an “outperform” rating to a “market perform” rating in a research report on Monday, June 1st. Wolfe Research cut Taylor Morrison Home from an “outperform” rating to a “peer perform” rating in a report on Wednesday, June 10th. Citizens Jmp downgraded Taylor Morrison Home from a “market outperform” rating to a “hold” rating in a research report on Monday, June 1st. Finally, Barclays restated an “equal weight” rating and set a $73.00 price target (up from $69.00) on shares of Taylor Morrison Home in a research note on Tuesday, July 14th. Two investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $77.43.

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.