Corebridge Financial Inc. Decreases Position in Taylor Morrison Home Co. (NYSE:TMHC)

Corebridge Financial Inc. lessened its holdings in shares of Taylor Morrison Home Co. (NYSE:TMHC - Free Report) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 167,243 shares of the construction company's stock after selling 9,967 shares during the period. Corebridge Financial Inc. owned about 0.16% of Taylor Morrison Home worth $10,237,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Lord Abbett & CO. LLC increased its holdings in Taylor Morrison Home by 2.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 463,287 shares of the construction company's stock worth $32,550,000 after purchasing an additional 11,302 shares during the period. Principal Financial Group Inc. increased its stake in shares of Taylor Morrison Home by 3.5% during the third quarter. Principal Financial Group Inc. now owns 2,051,580 shares of the construction company's stock valued at $144,144,000 after buying an additional 69,222 shares during the period. Sheets Smith Wealth Management bought a new stake in shares of Taylor Morrison Home in the fourth quarter valued at about $550,000. Charles Schwab Investment Management Inc. lifted its stake in Taylor Morrison Home by 26.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,362,020 shares of the construction company's stock worth $95,696,000 after acquiring an additional 282,227 shares during the period. Finally, Quantbot Technologies LP bought a new position in Taylor Morrison Home during the 3rd quarter worth about $1,925,000. Institutional investors own 95.16% of the company's stock.

Remove Ads

Taylor Morrison Home Stock Performance

Shares of TMHC stock traded up $0.05 during mid-day trading on Monday, reaching $60.03. The stock had a trading volume of 997,549 shares, compared to its average volume of 878,100. Taylor Morrison Home Co. has a 1-year low of $53.17 and a 1-year high of $75.49. The firm has a market cap of $6.11 billion, a price-to-earnings ratio of 7.25 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 business's fifty day moving average is $62.29 and its 200-day moving average is $65.67.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last issued its quarterly earnings results on Wednesday, February 12th. The construction company reported $2.64 earnings per share for the quarter, topping the consensus estimate of $2.40 by $0.24. Taylor Morrison Home had a net margin of 10.81% and a return on equity of 16.50%. On average, research analysts forecast that Taylor Morrison Home Co. will post 8.93 earnings per share for the current year.

Insider Transactions at Taylor Morrison Home

In other news, Director David C. Merritt sold 2,402 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $63.98, for a total value of $153,679.96. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Joseph Terracciano sold 1,537 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $60.75, for a total value of $93,372.75. The disclosure for this sale can be found here. Company insiders own 3.50% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on TMHC. Seaport Res Ptn upgraded shares of Taylor Morrison Home from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. StockNews.com downgraded shares of Taylor Morrison Home from a "buy" rating to a "hold" rating in a research note on Wednesday, January 8th. Wolfe Research upgraded Taylor Morrison Home from a "peer perform" rating to an "outperform" rating and set a $76.00 price objective for the company in a report on Wednesday, January 8th. Royal Bank of Canada boosted their target price on Taylor Morrison Home from $72.00 to $74.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Finally, Barclays upgraded Taylor Morrison Home from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $75.00 to $90.00 in a research note on Wednesday, December 11th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.43.

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.