Point72 DIFC Ltd Acquires Shares of 9,935 Tri Pointe Homes, Inc. (NYSE:TPH)

Point72 DIFC Ltd bought a new position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) in the second quarter, HoldingsChannel reports. The firm bought 9,935 shares of the construction company’s stock, valued at approximately $370,000.

Several other hedge funds have also modified their holdings of TPH. Janney Montgomery Scott LLC grew its holdings in Tri Pointe Homes by 73.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,538 shares of the construction company’s stock worth $550,000 after acquiring an additional 6,581 shares during the period. Norges Bank acquired a new position in shares of Tri Pointe Homes during the 4th quarter worth $22,862,000. PNC Financial Services Group Inc. increased its holdings in shares of 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 valued at $262,000 after purchasing an additional 3,588 shares in the last quarter. Assetmark Inc. lifted its stake in shares of Tri Pointe Homes by 29,825.0% in the fourth 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 during the period. Finally, US Bancorp DE boosted its holdings in Tri Pointe Homes by 108.5% during the fourth quarter. US Bancorp DE now owns 46,615 shares of the construction company’s stock worth $1,650,000 after buying an additional 24,262 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tri Pointe Homes

In other news, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction dated Friday, September 13th. The shares were 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 in the company, valued at $3,798,869.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Tri Pointe Homes news, General Counsel David Ch Lee sold 5,000 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the transaction, the general counsel now owns 85,792 shares of the company’s stock, valued at approximately $3,798,869.76. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Glenn J. Keeler sold 24,200 shares of the firm’s 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 sale, the chief financial officer now owns 149,108 shares in the company, valued at approximately $6,882,825.28. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Tri Pointe Homes Price Performance

TPH stock opened at $43.84 on Friday. The stock’s 50 day moving average price is $43.59 and its 200 day moving average price is $39.66. The firm has a market cap of $4.10 billion, a P/E ratio of 11.69, a PEG ratio of 0.74 and a beta of 1.59. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. Tri Pointe Homes, Inc. has a 1 year low of $24.18 and a 1 year high of $47.78.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Thursday, July 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business’s revenue was up 38.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 earnings per share. On average, sell-side analysts expect that Tri Pointe Homes, Inc. will post 4.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on TPH. Royal Bank of Canada lifted their price target on shares of Tri Pointe Homes from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Evercore ISI raised Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Oppenheimer upped their target price on Tri Pointe Homes from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target for the company in a research note on Tuesday, September 17th. Finally, Wedbush reissued a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a research note on Thursday, July 25th. 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.75.

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.