Tri Pointe Homes, Inc. (NYSE:TPH) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 37.8% during the 2nd quarter, Holdings Channel reports. The fund owned 49,755 shares of the construction company’s stock after selling 30,225 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Tri Pointe Homes were worth $1,853,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TPH. Fidelis Capital Partners LLC acquired a new stake in Tri Pointe Homes during the first quarter worth approximately $25,000. Gradient Investments LLC acquired a new stake in Tri Pointe Homes during the second quarter worth approximately $30,000. Evermay Wealth Management LLC acquired a new stake in Tri Pointe Homes during the fourth quarter worth approximately $35,000. Assetmark Inc. grew its position in shares of Tri Pointe Homes by 29,825.0% during 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. Finally, GAMMA Investing LLC grew its position in shares of Tri Pointe Homes by 63.1% during the second quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company’s stock worth $57,000 after acquiring an additional 588 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Analysts Set New Price Targets

TPH has been the topic of a number of research reports. Wedbush restated a “neutral” rating and set a $42.00 target price on shares of Tri Pointe Homes in a research report on Thursday, July 25th. Royal Bank of Canada raised their target price on shares of Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Oppenheimer raised their target price on shares of Tri Pointe Homes from $46.00 to $54.00 and gave the stock 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 research report on Friday, July 26th. Finally, Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective on the stock in a research report on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tri Pointe Homes has an average rating of “Moderate Buy” and a consensus price target of $46.75.

Tri Pointe Homes Stock Performance

NYSE:TPH opened at $45.25 on Tuesday. The firm’s fifty day moving average price is $43.58 and its 200 day moving average price is $39.55. Tri Pointe Homes, Inc. has a 1-year low of $24.18 and a 1-year high of $47.78. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market cap of $4.29 billion, a price-to-earnings ratio of 12.07, a price-to-earnings-growth ratio of 0.73 and a beta of 1.59.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Thursday, July 25th. The construction company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company earned $0.60 earnings per share. Tri Pointe Homes’s quarterly revenue was up 38.3% compared to the same quarter last year. On average, sell-side analysts expect that Tri Pointe Homes, Inc. will post 4.68 EPS for the current year.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, General Counsel David Ch Lee sold 5,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $44.28, for a total value of $221,400.00. Following the completion of the sale, the general counsel now owns 85,792 shares of the company’s stock, valued at $3,798,869.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other 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 transaction of $1,117,072.00. Following the completion of 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 Securities & Exchange Commission, which is available at this link. Also, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction on Friday, September 13th. The stock was 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 of the company’s stock, valued at approximately $3,798,869.76. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

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.