Norges Bank Buys 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) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,532,593 shares of the construction company's stock, valued at approximately $93,810,000. Norges Bank owned 1.48% of Taylor Morrison Home as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TMHC. Boston Partners grew its position in Taylor Morrison Home by 88.7% in the 4th quarter. Boston Partners now owns 594,347 shares of the construction company's stock worth $36,794,000 after purchasing an additional 279,361 shares during the period. Barclays PLC boosted its stake in shares of Taylor Morrison Home by 66.4% in the 3rd quarter. Barclays PLC now owns 420,419 shares of the construction company's stock worth $29,539,000 after buying an additional 167,735 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Taylor Morrison Home by 24.0% in the fourth quarter. JPMorgan Chase & Co. now owns 811,253 shares of the construction company's stock worth $49,657,000 after buying an additional 156,793 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of Taylor Morrison Home during the 3rd quarter worth $10,291,000. Finally, State Street Corp grew its position in shares of Taylor Morrison Home by 2.8% during the 3rd quarter. State Street Corp now owns 4,987,968 shares of the construction company's stock valued at $350,455,000 after acquiring an additional 136,432 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Taylor Morrison Home

In other news, CAO Joseph Terracciano sold 1,537 shares of the business's 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 sale was disclosed in a document filed 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 dated 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. Company insiders own 3.50% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on TMHC shares. Wolfe Research upgraded 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. JPMorgan Chase & Co. dropped 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 report on Tuesday, February 18th. Seaport Res Ptn raised Taylor Morrison Home from a "strong sell" rating to a "hold" rating in a report on Thursday, March 6th. Barclays raised Taylor Morrison Home from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $75.00 to $90.00 in a research note on Wednesday, December 11th. Finally, StockNews.com lowered Taylor Morrison Home from a "buy" rating to a "hold" rating in a research report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Taylor Morrison Home presently has an average rating of "Moderate Buy" and an average target price of $82.43.

Taylor Morrison Home Trading Up 3.0 %

NYSE:TMHC traded up $1.76 during midday trading on Friday, hitting $59.35. 1,512,858 shares of the company traded hands, compared to its average volume of 880,685. The firm has a market capitalization of $6.04 billion, a P/E ratio of 7.17 and a beta of 1.76. The firm's fifty day moving average is $61.81 and its 200-day moving average is $65.41. Taylor Morrison Home Co. has a 12-month low of $53.17 and a 12-month high of $75.49. The company has a current ratio of 6.39, a quick ratio of 0.94 and a debt-to-equity ratio of 0.36.

Taylor Morrison Home (NYSE:TMHC - Get Free Report) last released its earnings results on Wednesday, February 12th. The construction company reported $2.64 earnings per share (EPS) 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, sell-side analysts predict that Taylor Morrison Home Co. will post 8.93 EPS for the current year.

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.