Millennium Management LLC Increases Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Millennium Management LLC raised its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 14.1% in the second quarter, Holdings Channel.com reports. The firm owned 925,498 shares of the construction company’s stock after purchasing an additional 114,244 shares during the period. Millennium Management LLC’s holdings in Tri Pointe Homes were worth $34,475,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in TPH. PNC Financial Services Group Inc. grew its stake 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 worth $262,000 after buying an additional 3,588 shares during the last quarter. TD Asset Management Inc boosted its holdings in Tri Pointe Homes by 5.6% in the fourth quarter. TD Asset Management Inc now owns 84,900 shares of the construction company’s stock worth $3,005,000 after acquiring an additional 4,500 shares in the last quarter. Rafferty Asset Management LLC boosted its holdings in Tri Pointe Homes by 19.4% in the fourth quarter. Rafferty Asset Management LLC now owns 69,923 shares of the construction company’s stock worth $2,475,000 after acquiring an additional 11,381 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of Tri Pointe Homes in the fourth quarter worth $252,000. Finally, Keeley Teton Advisors LLC increased its holdings in shares of Tri Pointe Homes by 17.6% during the fourth quarter. Keeley Teton Advisors LLC now owns 18,839 shares of the construction company’s stock valued at $667,000 after acquiring an additional 2,815 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tri Pointe Homes

In other news, CFO Glenn J. Keeler sold 24,200 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 149,108 shares in the company, valued at approximately $6,882,825.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 transaction of $221,400.00. Following the transaction, the general counsel now directly owns 85,792 shares in the company, valued at $3,798,869.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $1,117,072.00. Following the sale, the chief financial officer now directly owns 149,108 shares of the company’s stock, valued at approximately $6,882,825.28. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Tri Pointe Homes Trading Down 0.9 %

NYSE:TPH opened at $44.91 on Thursday. The company has a market cap of $4.20 billion, a PE ratio of 11.98, a price-to-earnings-growth ratio of 0.74 and a beta of 1.59. 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 company has a 50 day simple moving average of $43.54 and a two-hundred day simple moving average of $40.03. Tri Pointe Homes, Inc. has a 12 month low of $24.18 and a 12 month 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 EPS for the quarter, topping 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 company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. Tri Pointe Homes’s revenue was up 38.3% compared to the same quarter last year. Research analysts forecast that Tri Pointe Homes, Inc. will post 4.68 earnings per share for the current year.

Analyst Ratings Changes

TPH has been the topic of several recent analyst reports. Evercore ISI raised shares of Tri Pointe Homes to a “strong-buy” rating in a research report on Friday, July 26th. Wedbush reiterated a “neutral” rating and set 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 for the company in a report on Tuesday, September 17th. Oppenheimer increased their target price on Tri Pointe Homes from $54.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Royal Bank of Canada lifted their target price on Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $47.25.

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.