HighTower Advisors LLC Invests $5.55 Million in Tri Pointe Homes, Inc. (NYSE:TPH)

HighTower Advisors LLC purchased a new stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 153,133 shares of the construction company’s stock, valued at approximately $5,553,000. HighTower Advisors LLC owned 0.16% of Tri Pointe Homes at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the business. Pacer Advisors Inc. acquired a new position in shares of Tri Pointe Homes in the 4th quarter valued at about $118,407,000. Geode Capital Management LLC grew its position in Tri Pointe Homes by 3.2% during the third quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock valued at $112,644,000 after purchasing an additional 76,830 shares in the last quarter. GW&K Investment Management LLC increased its stake in Tri Pointe Homes by 5.3% in the 4th quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company’s stock valued at $73,850,000 after buying an additional 102,187 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Tri Pointe Homes by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,165,651 shares of the construction company’s stock worth $52,816,000 after buying an additional 115,099 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in shares of Tri Pointe Homes by 4.4% during the 4th quarter. Allianz Asset Management GmbH now owns 810,904 shares of the construction company’s stock valued at $29,403,000 after buying an additional 34,371 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Stock Up 1.4 %

Shares of TPH stock opened at $31.78 on Thursday. The stock’s 50 day simple moving average is $34.42 and its 200 day simple moving average is $39.20. Tri Pointe Homes, Inc. has a twelve month low of $30.25 and a twelve month high of $47.78. 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 $2.91 billion, a price-to-earnings ratio of 6.58, a PEG ratio of 0.67 and a beta of 1.71.

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, beating analysts’ consensus estimates of $1.30 by $0.07. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. As a group, research analysts predict that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its board has initiated a share buyback plan on Wednesday, December 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TPH. Royal Bank of Canada downgraded shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $41.00 to $37.00 in a research note on Wednesday, February 19th. Oppenheimer cut their price target on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Seaport Res Ptn raised Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Wedbush reiterated a “neutral” rating and issued a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Tri Pointe Homes currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.60.

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.