6,824 Shares in Tri Pointe Homes, Inc. (NYSE:TPH) Bought by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. purchased a new stake in Tri Pointe Homes, Inc. (NYSE:TPH) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,824 shares of the construction company’s stock, valued at approximately $254,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. GW&K Investment Management LLC purchased a new stake in shares of Tri Pointe Homes in the 4th quarter worth about $24,389,000. Norges Bank purchased a new stake in Tri Pointe Homes in the fourth quarter worth about $22,862,000. Jane Street Group LLC boosted its position in Tri Pointe Homes by 171.3% during the 1st quarter. Jane Street Group LLC now owns 293,636 shares of the construction company’s stock valued at $11,352,000 after acquiring an additional 185,395 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Tri Pointe Homes by 51.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 451,148 shares of the construction company’s stock worth $17,441,000 after acquiring an additional 153,109 shares during the period. Finally, Allianz Asset Management GmbH raised its position in shares of Tri Pointe Homes by 49.9% in the 4th quarter. Allianz Asset Management GmbH now owns 439,344 shares of the construction company’s stock worth $15,553,000 after acquiring an additional 146,307 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, CFO Glenn J. Keeler sold 24,200 shares of Tri Pointe Homes stock in a transaction on Monday, July 29th. The stock was sold at an average price of $46.16, for a total value of $1,117,072.00. Following the completion of the sale, the chief financial officer now owns 149,108 shares of the company’s stock, valued at approximately $6,882,825.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on TPH shares. Royal Bank of Canada upped their price target on Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Wedbush reaffirmed a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research report on Thursday, July 25th. Oppenheimer lifted their price target on shares of Tri Pointe Homes from $46.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Evercore ISI upgraded shares of Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Finally, StockNews.com upgraded shares of Tri Pointe Homes from a “hold” rating to a “buy” rating in a report on Friday, April 26th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Tri Pointe Homes presently has an average rating of “Buy” and an average target price of $48.00.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock opened at $45.89 on Friday. Tri Pointe Homes, Inc. has a 1 year low of $24.18 and a 1 year high of $47.78. The firm’s 50-day moving average is $40.90 and its 200 day moving average is $38.20. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 0.68 and a beta of 1.58. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results on Thursday, July 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.16. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. The business had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The business’s revenue for the quarter was up 38.3% compared to the same quarter last year. Sell-side analysts anticipate that Tri Pointe Homes, Inc. will post 4.64 EPS for the current fiscal year.

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.