State of New Jersey Common Pension Fund D Buys 6,707 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

State of New Jersey Common Pension Fund D increased its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 15.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 50,340 shares of the construction company’s stock after acquiring an additional 6,707 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Tri Pointe Homes were worth $1,825,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Reston Wealth Management LLC purchased a new stake in Tri Pointe Homes in the third quarter worth $45,000. Nisa Investment Advisors LLC lifted its stake in Tri Pointe Homes by 51.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock worth $84,000 after purchasing an additional 789 shares during the last quarter. Blue Trust Inc. lifted its stake in Tri Pointe Homes by 33.5% during the third 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 last quarter. KBC Group NV lifted its stake in Tri Pointe Homes by 65.9% during the fourth quarter. KBC Group NV now owns 4,254 shares of the construction company’s stock worth $154,000 after purchasing an additional 1,690 shares during the last quarter. Finally, Truvestments Capital LLC bought a new stake in shares of Tri Pointe Homes in the 3rd quarter valued at about $184,000. 97.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction on 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 transaction, the chief operating officer now directly owns 708,159 shares of the company’s stock, valued at $27,724,424.85. This represents a 9.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is currently owned by company insiders.

Tri Pointe Homes Stock Up 3.8 %

TPH stock opened at $32.65 on Wednesday. Tri Pointe Homes, Inc. has a fifty-two week low of $30.25 and a fifty-two week high of $47.78. The business’s 50 day moving average price is $36.01 and its two-hundred day moving average price is $40.50. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 6.76, a price-to-earnings-growth ratio of 0.67 and a beta of 1.64.

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

Tri Pointe Homes announced that its Board of Directors has initiated a share buyback program on Wednesday, December 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to buy up to 7.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TPH has been the topic of a number of research analyst reports. StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Evercore ISI reduced their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada downgraded Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. Oppenheimer reduced their price target 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. Finally, Wedbush restated a “neutral” rating and set a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $40.60.

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.