Empirical Financial Services LLC d.b.a. Empirical Wealth Management Boosts Stock Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in Tri Pointe Homes, Inc. (NYSE:TPH) by 24.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,012 shares of the construction company’s stock after purchasing an additional 4,765 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Tri Pointe Homes were worth $871,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Assenagon Asset Management S.A. grew its stake in Tri Pointe Homes by 260.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock valued at $64,216,000 after acquiring an additional 1,024,425 shares in the last quarter. Weiss Asset Management LP purchased a new position in Tri Pointe Homes during the third quarter valued at approximately $16,066,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Tri Pointe Homes during the second quarter valued at approximately $9,599,000. Bridgewater Associates LP grew its stake in Tri Pointe Homes by 476.3% during the third quarter. Bridgewater Associates LP now owns 174,719 shares of the construction company’s stock valued at $7,917,000 after acquiring an additional 144,403 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in Tri Pointe Homes by 703.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,853 shares of the construction company’s stock valued at $7,198,000 after acquiring an additional 139,079 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $39.15, for a total value of $3,029,583.60. Following the completion of the sale, the chief operating officer now directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. The trade was a 9.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.50% of the company’s stock.

Tri Pointe Homes Trading Down 2.6 %

Shares of TPH opened at $37.47 on Wednesday. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 7.77, a PEG ratio of 0.60 and a beta of 1.64. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64. Tri Pointe Homes, Inc. has a fifty-two week low of $33.24 and a fifty-two week high of $47.78. The firm has a 50 day moving average price of $38.79 and a 200-day moving average price of $41.73.

Tri Pointe Homes announced that its board has approved a share buyback plan on Wednesday, December 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to repurchase up to 7.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TPH has been the subject of several recent analyst reports. Wedbush reaffirmed a “neutral” rating and set a $42.00 price objective on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Oppenheimer cut their price target on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada cut their price target on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.75.

Tri Pointe Homes Company Profile

Tri Pointe Homes, Inc engages in the design, construction, and sale of single-family attached and detached homes in the United States. The company operates through a portfolio of six regional home building brands comprising Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and the Carolinas; and Winchester Homes in Maryland and Northern Virginia.