Tri Pointe Homes, Inc. (NYSE:TPH) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. decreased its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 85.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 32,949 shares of the construction company’s stock after selling 187,824 shares during the period. Phocas Financial Corp.’s holdings in Tri Pointe Homes were worth $1,195,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. GSA Capital Partners LLP lifted its stake in shares of Tri Pointe Homes by 4.4% during the third quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company’s stock worth $280,000 after buying an additional 258 shares during the period. Empowered Funds LLC raised its stake in shares of Tri Pointe Homes by 0.3% in the third quarter. Empowered Funds LLC now owns 99,346 shares of the construction company’s stock worth $4,501,000 after purchasing an additional 265 shares during the last quarter. Highland Capital Management LLC boosted its position in Tri Pointe Homes by 6.7% in the fourth quarter. Highland Capital Management LLC now owns 5,852 shares of the construction company’s stock valued at $212,000 after buying an additional 368 shares during the last quarter. Park Avenue Securities LLC increased its holdings in Tri Pointe Homes by 7.4% in the 4th quarter. Park Avenue Securities LLC now owns 6,412 shares of the construction company’s stock worth $232,000 after buying an additional 444 shares during the period. Finally, First Trust Direct Indexing L.P. raised its position in Tri Pointe Homes by 9.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,266 shares of the construction company’s stock worth $284,000 after buying an additional 541 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TPH has been the subject of several recent research reports. Oppenheimer reduced their target price on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Evercore ISI lowered their price objective on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada lowered shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their target price for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $38.00 price objective (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.60.

Insiders Place Their Bets

In other news, COO Thomas J. Mitchell sold 77,384 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the transaction, the chief operating officer now directly owns 708,159 shares in the company, valued at $27,724,424.85. The trade was a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by insiders.

Tri Pointe Homes Stock Up 3.8 %

TPH stock opened at $32.65 on Wednesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64. Tri Pointe Homes, Inc. has a 12 month low of $30.25 and a 12 month high of $47.78. The company has a fifty day moving average price of $35.89 and a 200 day moving average price of $40.44. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 6.76, a price-to-earnings-growth ratio of 0.67 and a beta of 1.64.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Sell-side analysts expect that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its board has initiated a stock repurchase program on Wednesday, December 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

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.