State of Michigan Retirement System Cuts Stock Position in Taylor Morrison Home Co. (NYSE:TMHC)

State of Michigan Retirement System trimmed its position in Taylor Morrison Home Co. (NYSE:TMHC) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,495 shares of the construction company’s stock after selling 300 shares during the period. State of Michigan Retirement System’s holdings in Taylor Morrison Home were worth $1,499,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Harbor Capital Advisors Inc. purchased a new stake in shares of Taylor Morrison Home in the third quarter valued at about $34,000. V Square Quantitative Management LLC lifted its position in Taylor Morrison Home by 68.1% in the fourth quarter. V Square Quantitative Management LLC now owns 684 shares of the construction company’s stock valued at $42,000 after purchasing an additional 277 shares during the period. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Taylor Morrison Home by 43.2% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 806 shares of the construction company’s stock valued at $49,000 after purchasing an additional 243 shares in the last quarter. SRS Capital Advisors Inc. acquired a new position in Taylor Morrison Home during the 4th quarter worth approximately $51,000. Finally, Smartleaf Asset Management LLC raised its stake in shares of Taylor Morrison Home by 41.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 830 shares of the construction company’s stock worth $51,000 after buying an additional 243 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.

Taylor Morrison Home Stock Performance

NYSE:TMHC opened at $61.83 on Friday. Taylor Morrison Home Co. has a twelve month low of $53.17 and a twelve month high of $75.49. The company has a market capitalization of $6.29 billion, a P/E ratio of 7.47 and a beta of 2.06. The company has a current ratio of 6.39, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $62.98 and a two-hundred day moving average price of $66.31.

Taylor Morrison Home (NYSE:TMHC) last issued its quarterly earnings data on Wednesday, February 12th. The construction company reported $2.64 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.24. Taylor Morrison Home had a net margin of 10.81% and a return on equity of 16.50%. As a group, research analysts expect that Taylor Morrison Home Co. will post 8.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TMHC. Barclays upgraded Taylor Morrison Home from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $75.00 to $90.00 in a research note on Wednesday, December 11th. StockNews.com lowered shares of Taylor Morrison Home from a “buy” rating to a “hold” rating in a research report on Wednesday, January 8th. JPMorgan Chase & Co. cut their price target on shares of Taylor Morrison Home from $90.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, February 18th. Royal Bank of Canada boosted their price objective on shares of Taylor Morrison Home from $72.00 to $74.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, Wolfe Research upgraded shares of Taylor Morrison Home from a “peer perform” rating to an “outperform” rating and set a $76.00 target price on the stock in a research report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, Taylor Morrison Home presently has a consensus rating of “Moderate Buy” and an average price target of $82.43.

Insider Transactions at Taylor Morrison Home

In other Taylor Morrison Home news, Director David C. Merritt sold 2,402 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $63.98, for a total transaction of $153,679.96. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.50% of the company’s stock.

Taylor Morrison Home 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.