Public Sector Pension Investment Board Purchases 9,828 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Public Sector Pension Investment Board grew its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 4.9% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 208,756 shares of the construction company’s stock after purchasing an additional 9,828 shares during the quarter. Public Sector Pension Investment Board’s holdings in Tri Pointe Homes were worth $7,776,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of 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. Assetmark Inc. boosted its position in shares of Tri Pointe Homes by 29,825.0% during the 4th quarter. Assetmark Inc. now owns 1,197 shares of the construction company’s stock valued at $42,000 after purchasing an additional 1,193 shares in the last quarter. GAMMA Investing LLC grew its stake in 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 purchasing an additional 588 shares during the period. Finally, Blue Trust Inc. increased its holdings in Tri Pointe Homes by 31.7% in the second quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock worth $69,000 after purchasing an additional 427 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TPH. Evercore ISI upgraded Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Wedbush restated a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a report on Thursday, July 25th. 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 report on Tuesday, September 17th. Oppenheimer raised their target price on Tri Pointe Homes from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, 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. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $46.75.

Insider Buying and Selling at Tri Pointe Homes

In other news, CFO Glenn J. Keeler sold 24,200 shares of the company’s stock in a transaction on Monday, July 29th. The shares were 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 in the company, valued at approximately $6,882,825.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Glenn J. Keeler sold 24,200 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were 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 directly owns 149,108 shares in the company, valued at $6,882,825.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, General Counsel David Ch Lee sold 5,000 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the completion of the sale, the general counsel now directly owns 85,792 shares of the company’s stock, valued at $3,798,869.76. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Tri Pointe Homes Stock Down 0.7 %

Shares of NYSE TPH opened at $44.95 on Wednesday. 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 has a market capitalization of $4.21 billion, a P/E ratio of 11.99, a P/E/G ratio of 0.74 and a beta of 1.59. The company has a 50-day moving average price of $43.59 and a 200-day moving average price of $39.62.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.09 by $0.16. The firm had revenue of $1.13 billion during 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 quarterly revenue was up 38.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 earnings per share. On average, equities research analysts forecast that Tri Pointe Homes, Inc. will post 4.68 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.