Tri Pointe Homes, Inc. (NYSE:TPH) Shares Bought by Rhumbline Advisers

Rhumbline Advisers lifted its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 0.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 295,722 shares of the construction company’s stock after purchasing an additional 1,553 shares during the period. Rhumbline Advisers’ holdings in Tri Pointe Homes were worth $10,723,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TPH. Reston Wealth Management LLC purchased a new stake in Tri Pointe Homes during the third quarter valued at about $45,000. Nisa Investment Advisors LLC lifted its stake in shares of Tri Pointe Homes by 51.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock valued at $84,000 after purchasing an additional 789 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of 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 purchasing an additional 594 shares during the period. Truvestments Capital LLC acquired a new stake in Tri Pointe Homes during the 3rd quarter worth approximately $184,000. Finally, KBC Group NV raised its holdings in Tri Pointe Homes by 65.9% in the fourth quarter. KBC Group NV now owns 4,254 shares of the construction company’s stock valued at $154,000 after buying an additional 1,690 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TPH. Evercore ISI decreased their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Wedbush reaffirmed a “neutral” rating and set a $38.00 price target (down from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Royal Bank of Canada lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $41.00 to $37.00 in a research report on Wednesday, February 19th. StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Oppenheimer dropped their target price on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $40.60.

Insider Buying and Selling at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction on Monday, December 16th. The shares were sold at an average price of $39.15, for a total value of $3,029,583.60. Following the completion of the sale, the chief operating officer now owns 708,159 shares in the company, valued at approximately $27,724,424.85. The trade was a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.

Tri Pointe Homes Stock Performance

Shares of TPH stock opened at $30.79 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64. The company’s fifty day moving average price is $36.16 and its two-hundred day moving average price is $40.55. The firm has a market capitalization of $2.88 billion, a P/E ratio of 6.37, a P/E/G ratio of 0.67 and a beta of 1.64. Tri Pointe Homes, Inc. has a 12 month low of $30.25 and a 12 month high of $47.78.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. On average, research analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has authorized a stock buyback program on Wednesday, December 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 7.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

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.