Norges Bank Purchases Shares of 1,532,593 Taylor Morrison Home Co. (NYSE:TMHC)

Norges Bank purchased a new position in Taylor Morrison Home Co. (NYSE:TMHC - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,532,593 shares of the construction company's stock, valued at approximately $93,810,000. Norges Bank owned about 1.48% of Taylor Morrison Home as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in TMHC. Lord Abbett & CO. LLC boosted its stake in Taylor Morrison Home by 2.5% in the third quarter. Lord Abbett & CO. LLC now owns 463,287 shares of the construction company's stock valued at $32,550,000 after acquiring an additional 11,302 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Taylor Morrison Home by 3.5% in 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 purchasing an additional 69,222 shares during the last quarter. Sheets Smith Wealth Management bought a new position in Taylor Morrison Home during the fourth quarter valued at $550,000. Financial Enhancement Group LLC purchased a new stake in Taylor Morrison Home in the fourth quarter worth $5,840,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its position in Taylor Morrison Home by 43.2% in the fourth quarter. Thurston Springer Miller Herd & Titak Inc. now owns 806 shares of the construction company's stock worth $49,000 after buying an additional 243 shares during the last quarter. Institutional investors own 95.16% of the company's stock.

Taylor Morrison Home Price Performance

Taylor Morrison Home stock traded down $3.61 during midday trading on Thursday, reaching $57.71. 1,180,916 shares of the stock were exchanged, compared to its average volume of 879,542. The company's fifty day moving average is $62.10 and its 200-day moving average is $65.59. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.94 and a current ratio of 6.39. Taylor Morrison Home Co. has a 52 week low of $53.17 and a 52 week high of $75.49. The firm has a market cap of $5.87 billion, a PE ratio of 6.97 and a beta of 1.76.

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

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Seaport Res Ptn upgraded Taylor Morrison Home from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. cut their target price on shares of Taylor Morrison Home from $90.00 to $82.00 and set an "overweight" rating for the company in a research report on Tuesday, February 18th. Barclays raised shares of Taylor Morrison Home from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $75.00 to $90.00 in a research report on Wednesday, December 11th. Royal Bank of Canada upped their price target on shares of Taylor Morrison Home from $72.00 to $74.00 and gave the company an "outperform" rating in a research note 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 price objective for the company in a research note on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $82.43.

Insider Activity

In other news, CAO Joseph Terracciano sold 1,537 shares of Taylor Morrison Home stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $60.75, for a total transaction of $93,372.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director David C. Merritt sold 2,402 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $63.98, for a total transaction of $153,679.96. The disclosure for this sale can be found here. Corporate insiders own 3.50% 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.