Tri Pointe Homes, Inc. (NYSE:TPH) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in Tri Pointe Homes, Inc. (NYSE:TPH) by 3.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 52,926 shares of the construction company’s stock after selling 1,780 shares during the period. The Manufacturers Life Insurance Company’s holdings in Tri Pointe Homes were worth $2,398,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Gradient Investments LLC acquired a new position in Tri Pointe Homes in the second quarter valued at about $30,000. Reston Wealth Management LLC acquired a new stake in shares of Tri Pointe Homes during the third quarter valued at about $45,000. Blue Trust Inc. raised its stake in shares of Tri Pointe Homes by 31.7% in the 2nd quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock valued at $69,000 after acquiring an additional 427 shares during the period. CWM LLC lifted its holdings in shares of Tri Pointe Homes by 70.8% in the 2nd quarter. CWM LLC now owns 2,220 shares of the construction company’s stock worth $83,000 after acquiring an additional 920 shares during the last quarter. Finally, Quarry LP boosted its position in shares of Tri Pointe Homes by 123.3% during the 2nd quarter. Quarry LP now owns 2,401 shares of the construction company’s stock worth $89,000 after purchasing an additional 1,326 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, General Counsel David Ch Lee sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were 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 approximately $3,798,869.76. This trade represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

Tri Pointe Homes Price Performance

TPH stock opened at $41.49 on Monday. The business has a 50 day moving average price of $42.92 and a 200 day moving average price of $41.80. 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 stock has a market cap of $3.88 billion, a price-to-earnings ratio of 8.61, a PEG ratio of 0.69 and a beta of 1.60. Tri Pointe Homes, Inc. has a fifty-two week low of $30.27 and a fifty-two week high of $47.78.

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

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TPH shares. Royal Bank of Canada dropped their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Wedbush reissued a “neutral” rating and set a $42.00 price objective on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Zelman & Associates raised shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price on the stock in a report on Tuesday, September 17th. Finally, Oppenheimer decreased their price target on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Tri Pointe Homes presently has a consensus 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.