Panagora Asset Management Inc. Grows Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Panagora Asset Management Inc. grew its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 269,398 shares of the construction company’s stock after buying an additional 13,693 shares during the quarter. Panagora Asset Management Inc. owned 0.29% of Tri Pointe Homes worth $10,035,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC bought a new stake in Tri Pointe Homes during the first quarter valued at $25,000. Gradient Investments LLC acquired a new position in shares of Tri Pointe Homes in the 2nd quarter valued at about $30,000. Evermay Wealth Management LLC bought a new stake in shares of Tri Pointe Homes during the 4th quarter valued at about $35,000. GAMMA Investing LLC acquired a new stake in Tri Pointe Homes during the fourth quarter worth about $41,000. Finally, Assetmark Inc. lifted its holdings in Tri Pointe Homes by 29,825.0% in the fourth quarter. Assetmark Inc. now owns 1,197 shares of the construction company’s stock worth $42,000 after acquiring an additional 1,193 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

Insider Activity at Tri Pointe Homes

In related news, CFO Glenn J. Keeler sold 24,200 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 149,108 shares in the company, valued at approximately $6,882,825.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.00% of the stock is owned by insiders.

Tri Pointe Homes Trading Up 0.9 %

Shares of NYSE TPH opened at $44.44 on Friday. The company has a market cap of $4.16 billion, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 0.75 and a beta of 1.58. Tri Pointe Homes, Inc. has a 12-month low of $24.18 and a 12-month high of $47.78. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock’s 50 day simple moving average is $41.64 and its 200 day simple moving average is $38.53.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Thursday, July 25th. The construction company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.09 by $0.16. Tri Pointe Homes had a return on equity of 14.03% and a net margin of 10.28%. The firm had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm earned $0.60 EPS. The firm’s revenue was up 38.3% compared to the same quarter last year. Equities research analysts expect that Tri Pointe Homes, Inc. will post 4.64 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.