Renaissance Technologies LLC Boosts Stock Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Renaissance Technologies LLC grew its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 1,417.8% during the second quarter, Holdings Channel reports. The institutional investor owned 443,736 shares of the construction company’s stock after buying an additional 414,500 shares during the period. Renaissance Technologies LLC’s holdings in Tri Pointe Homes were worth $16,529,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in TPH. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Tri Pointe Homes during the 4th quarter valued at about $213,000. Janney Montgomery Scott LLC lifted its holdings in Tri Pointe Homes by 73.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 15,538 shares of the construction company’s stock worth $550,000 after purchasing an additional 6,581 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Tri Pointe Homes by 21.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,748 shares of the construction company’s stock worth $97,000 after purchasing an additional 487 shares in the last quarter. Norges Bank purchased a new position in Tri Pointe Homes in the 4th quarter worth approximately $22,862,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Tri Pointe Homes by 94.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,407 shares of the construction company’s stock worth $262,000 after purchasing an additional 3,588 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on TPH shares. Oppenheimer boosted 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. Evercore ISI raised Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. 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. Royal Bank of Canada boosted 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, Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective on the stock in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $46.75.

Tri Pointe Homes Stock Performance

NYSE:TPH opened at $44.73 on Friday. 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, Inc. has a 1 year low of $24.18 and a 1 year high of $47.78. The stock’s 50 day simple moving average is $43.52 and its two-hundred day simple moving average is $39.44. The company has a market cap of $4.24 billion, a price-to-earnings ratio of 11.93, a PEG ratio of 0.73 and a beta of 1.59.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Thursday, July 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.07 billion. Tri Pointe Homes had a return on equity of 14.03% and a net margin of 10.28%. The company’s revenue was up 38.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. As a group, equities analysts anticipate that Tri Pointe Homes, Inc. will post 4.68 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Glenn J. Keeler sold 24,200 shares of the business’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 transaction of $1,117,072.00. Following the transaction, 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 is accessible through the SEC website. In other news, CFO Glenn J. Keeler sold 24,200 shares of the business’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 transaction of $1,117,072.00. Following the transaction, 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 is accessible through the SEC website. Also, General Counsel David Ch Lee sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the transaction, the general counsel now directly owns 85,792 shares in the company, valued at approximately $3,798,869.76. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Tri Pointe Homes 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.