State of New Jersey Common Pension Fund D Decreases Stock Position in Tri Pointe Homes, Inc. (NYSE:TPH)

State of New Jersey Common Pension Fund D lessened its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 12.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 43,633 shares of the construction company’s stock after selling 6,122 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Tri Pointe Homes were worth $1,977,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Assenagon Asset Management S.A. lifted its stake in Tri Pointe Homes by 260.8% in the third quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock valued at $64,216,000 after buying an additional 1,024,425 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Tri Pointe Homes by 1,417.8% in the 2nd quarter. Renaissance Technologies LLC now owns 443,736 shares of the construction company’s stock worth $16,529,000 after acquiring an additional 414,500 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of Tri Pointe Homes by 149.5% in the second quarter. Cubist Systematic Strategies LLC now owns 534,406 shares of the construction company’s stock valued at $19,907,000 after acquiring an additional 320,221 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Tri Pointe Homes during the second quarter worth about $9,599,000. Finally, Jane Street Group LLC lifted its position in Tri Pointe Homes by 171.3% in the first quarter. Jane Street Group LLC now owns 293,636 shares of the construction company’s stock valued at $11,352,000 after purchasing an additional 185,395 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

Tri Pointe Homes Stock Down 0.8 %

Shares of NYSE TPH opened at $41.79 on Monday. Tri Pointe Homes, Inc. has a 52-week low of $28.74 and a 52-week high of $47.78. The stock has a market capitalization of $3.91 billion, a PE ratio of 8.67, a P/E/G ratio of 0.68 and a beta of 1.60. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average of $43.33 and a 200-day moving average of $41.43.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the previous year, the business earned $0.76 EPS. The company’s revenue for the quarter was up 34.9% on a year-over-year basis. On average, analysts anticipate that Tri Pointe Homes, Inc. will post 4.72 EPS for the current year.

Insider Activity at Tri Pointe Homes

In other news, General Counsel David Ch Lee sold 5,000 shares of the company’s stock in a transaction 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 completion of the transaction, the general counsel now directly owns 85,792 shares in the company, valued at approximately $3,798,869.76. This represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TPH shares. Wedbush restated a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Zelman & Associates upgraded Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target for the company in a research report on Tuesday, September 17th. Evercore ISI raised shares of Tri Pointe Homes to a “strong-buy” rating in a research note on Friday, July 26th. Oppenheimer decreased their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Royal Bank of Canada lowered their target price on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $45.75.

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.