Tri Pointe Homes, Inc. (NYSE:TPH) Position Reduced by Great Lakes Advisors LLC

Great Lakes Advisors LLC reduced its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 15.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,635 shares of the construction company’s stock after selling 1,030 shares during the period. Great Lakes Advisors LLC’s holdings in Tri Pointe Homes were worth $204,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. GSA Capital Partners LLP boosted its stake in Tri Pointe Homes by 4.4% in the 3rd quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company’s stock worth $280,000 after purchasing an additional 258 shares during the period. Empowered Funds LLC lifted its holdings 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 valued at $4,501,000 after purchasing an additional 265 shares in the last quarter. Assetmark Inc. boosted its position in shares of Tri Pointe Homes by 19.6% in the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock worth $66,000 after buying an additional 300 shares during the period. Highland Capital Management LLC raised its position in Tri Pointe Homes by 6.7% during 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 period. Finally, Park Avenue Securities LLC lifted its stake 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 acquiring an additional 444 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Stock Up 1.2 %

Tri Pointe Homes stock opened at $31.52 on Monday. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. Tri Pointe Homes, Inc. has a 1-year low of $30.25 and a 1-year high of $47.78. The firm’s fifty day simple moving average is $34.65 and its 200-day simple moving average is $39.43. The company has a market capitalization of $2.89 billion, a P/E ratio of 6.53, a P/E/G ratio of 0.67 and a beta of 1.71.

Tri Pointe Homes (NYSE:TPH) last announced 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 analysts’ expectations of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. Sell-side analysts forecast that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

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

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.