GW&K Investment Management LLC Increases Position in Tri Pointe Homes, Inc. (NYSE:TPH)

GW&K Investment Management LLC increased its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 5.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,036,689 shares of the construction company’s stock after buying an additional 102,187 shares during the period. GW&K Investment Management LLC owned about 2.18% of Tri Pointe Homes worth $73,850,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPH. Pacer Advisors Inc. purchased a new stake in shares of Tri Pointe Homes during the 4th quarter worth approximately $118,407,000. Weiss Asset Management LP purchased a new stake in Tri Pointe Homes during the third quarter worth $16,066,000. Bridgewater Associates LP grew its holdings in Tri Pointe Homes by 476.3% in the third quarter. Bridgewater Associates LP now owns 174,719 shares of the construction company’s stock valued at $7,917,000 after purchasing an additional 144,403 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Tri Pointe Homes by 703.3% in 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 purchasing an additional 139,079 shares during the last quarter. Finally, Quantbot Technologies LP increased its position in shares of Tri Pointe Homes by 562.0% in the third quarter. Quantbot Technologies LP now owns 147,238 shares of the construction company’s stock valued at $6,671,000 after buying an additional 124,998 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the firm’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 sale, the chief operating officer now directly owns 708,159 shares of the company’s stock, valued at approximately $27,724,424.85. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by company insiders.

Analyst Ratings Changes

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

Tri Pointe Homes Stock Down 1.3 %

Shares of NYSE TPH opened at $31.21 on Friday. The firm’s 50 day moving average price is $35.68 and its 200 day moving average price is $40.31. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24. The firm has a market cap of $2.87 billion, a P/E ratio of 6.46, a price-to-earnings-growth ratio of 0.67 and a beta of 1.64. Tri Pointe Homes, Inc. has a 1 year low of $30.25 and a 1 year high of $47.78.

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

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