Brandywine Global Investment Management LLC Has $14.88 Million Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Brandywine Global Investment Management LLC lessened its holdings in Tri Pointe Homes, Inc. (NYSE:TPH) by 17.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 410,327 shares of the construction company’s stock after selling 84,459 shares during the period. Brandywine Global Investment Management LLC owned 0.44% of Tri Pointe Homes worth $14,878,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in TPH. Pacer Advisors Inc. bought a new position in shares of Tri Pointe Homes in the fourth quarter valued at about $118,407,000. Norges Bank bought a new position in Tri Pointe Homes in the 4th quarter valued at about $14,815,000. Raymond James Financial Inc. acquired a new stake in Tri Pointe Homes during the fourth quarter worth approximately $13,342,000. Weiss Asset Management LP bought a new stake in shares of Tri Pointe Homes during the third quarter worth approximately $16,066,000. Finally, Boston Partners acquired a new position in shares of Tri Pointe Homes in the fourth quarter valued at approximately $8,888,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Trading Down 2.3 %

TPH opened at $31.88 on Monday. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 6.60, a P/E/G ratio of 0.67 and a beta of 1.71. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. Tri Pointe Homes, Inc. has a twelve month low of $30.25 and a twelve month high of $47.78. The company has a 50-day simple moving average of $33.86 and a 200 day simple moving average of $38.66.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. Analysts predict that Tri Pointe Homes, Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has initiated a stock buyback plan on Wednesday, December 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 7.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TPH shares. Seaport Res Ptn upgraded Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. 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 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 lowered their price target for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Evercore ISI lowered their target price on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.60.

About Tri Pointe Homes

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.