Everence Capital Management Inc. Sells 1,840 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Everence Capital Management Inc. trimmed its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 12.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,650 shares of the construction company’s stock after selling 1,840 shares during the quarter. Everence Capital Management Inc.’s holdings in Tri Pointe Homes were worth $459,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in TPH. Reston Wealth Management LLC bought a new stake in shares of Tri Pointe Homes during the third quarter valued at about $45,000. Quarry LP grew its stake in Tri Pointe Homes by 123.3% during the second quarter. Quarry LP now owns 2,401 shares of the construction company’s stock valued at $89,000 after acquiring an additional 1,326 shares in the last quarter. Blue Trust Inc. increased its holdings in Tri Pointe Homes by 33.5% during the 3rd quarter. Blue Trust Inc. now owns 2,368 shares of the construction company’s stock worth $107,000 after acquiring an additional 594 shares during the period. GAMMA Investing LLC lifted its stake in Tri Pointe Homes by 75.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,669 shares of the construction company’s stock worth $121,000 after purchasing an additional 1,149 shares in the last quarter. Finally, CWM LLC boosted its holdings in Tri Pointe Homes by 39.3% in the 3rd quarter. CWM LLC now owns 3,092 shares of the construction company’s stock valued at $140,000 after purchasing an additional 872 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

TPH has been the topic of several research analyst reports. Oppenheimer decreased their price target on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Wedbush reaffirmed a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a report on Thursday, October 24th. Zelman & Associates raised 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. 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 on the stock in a research note on Friday, October 25th. Finally, StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.75.

Insider Activity

In related news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the completion of the sale, the chief operating officer now directly owns 708,159 shares in the company, valued at $27,724,424.85. This represents a 9.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 2.00% of the company’s stock.

Tri Pointe Homes Stock Performance

NYSE:TPH opened at $35.99 on Monday. The company has a market capitalization of $3.37 billion, a price-to-earnings ratio of 7.47, a PEG ratio of 0.64 and a beta of 1.64. The business has a 50 day moving average of $40.39 and a 200 day moving average of $41.76. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. Tri Pointe Homes, Inc. has a 1-year low of $33.24 and a 1-year high of $47.78.

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

Tri Pointe Homes announced that its Board of Directors has authorized a stock buyback plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.