Zurcher Kantonalbank Zurich Cantonalbank Increases Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 13.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 27,760 shares of the construction company’s stock after purchasing an additional 3,347 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Tri Pointe Homes were worth $1,007,000 at the end of the most recent reporting period.

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

Tri Pointe Homes Stock Performance

TPH opened at $31.78 on Thursday. The firm has a fifty day moving average price of $34.42 and a 200 day moving average price of $39.20. Tri Pointe Homes, Inc. has a 1 year low of $30.25 and a 1 year high of $47.78. The stock has a market cap of $2.91 billion, a P/E ratio of 6.58, a P/E/G ratio of 0.67 and a beta of 1.71. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio 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 (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Equities research analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

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

Analyst Ratings Changes

TPH has been the topic of a number of recent research reports. 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 research report on Wednesday, February 19th. StockNews.com downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Royal Bank of Canada lowered shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $41.00 to $37.00 in a research note on Wednesday, February 19th. Seaport Res Ptn upgraded shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Finally, 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. Four research 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 company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target 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.