Envestnet Asset Management Inc. Decreases Holdings in Taylor Morrison Home Corporation $TMHC

Envestnet Asset Management Inc. reduced its holdings in shares of Taylor Morrison Home Corporation (NYSE:TMHC) by 68.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,605 shares of the construction company’s stock after selling 70,750 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Taylor Morrison Home were worth $2,152,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. AlphaQuest LLC lifted its holdings in shares of Taylor Morrison Home by 97.3% in the 3rd quarter. AlphaQuest LLC now owns 38,734 shares of the construction company’s stock valued at $2,557,000 after purchasing an additional 19,098 shares during the last quarter. Arkadios Wealth Advisors purchased a new position in Taylor Morrison Home during the 2nd quarter worth approximately $359,000. Nordea Investment Management AB increased its position in Taylor Morrison Home by 10.0% during the third quarter. Nordea Investment Management AB now owns 193,249 shares of the construction company’s stock worth $12,689,000 after buying an additional 17,595 shares during the period. Campbell & CO Investment Adviser LLC purchased a new stake in Taylor Morrison Home in the third quarter valued at approximately $2,088,000. Finally, Pacer Advisors Inc. acquired a new stake in shares of Taylor Morrison Home in the third quarter valued at approximately $1,357,000. Institutional investors and hedge funds own 95.16% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on TMHC shares. Zacks Research cut shares of Taylor Morrison Home from a “hold” rating to a “strong sell” rating in a report on Thursday, January 22nd. Bank of America reissued a “neutral” rating and set a $70.00 price objective (up from $68.00) on shares of Taylor Morrison Home in a research report on Friday, January 16th. Barclays reduced their target price on shares of Taylor Morrison Home from $71.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Citizens Jmp initiated coverage on Taylor Morrison Home in a report on Wednesday, January 7th. They set a “market outperform” rating and a $95.00 price target on the stock. Finally, Weiss Ratings cut Taylor Morrison Home from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, February 20th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $77.17.

Taylor Morrison Home Stock Up 0.2%

Shares of NYSE:TMHC opened at $65.95 on Friday. Taylor Morrison Home Corporation has a fifty-two week low of $51.90 and a fifty-two week high of $72.50. The company has a quick ratio of 1.55, a current ratio of 7.31 and a debt-to-equity ratio of 0.36. The firm’s 50-day simple moving average is $63.20 and its 200-day simple moving average is $63.67. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 8.50, a PEG ratio of 9.19 and a beta of 1.59.

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.