Sei Investments Co. Increases Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Sei Investments Co. lifted its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 8.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 154,888 shares of the construction company’s stock after purchasing an additional 11,522 shares during the quarter. Sei Investments Co.’s holdings in Tri Pointe Homes were worth $5,770,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its holdings in Tri Pointe Homes by 73.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 15,538 shares of the construction company’s stock worth $550,000 after acquiring an additional 6,581 shares during the period. Norges Bank acquired a new stake in Tri Pointe Homes during the fourth quarter worth about $22,862,000. PNC Financial Services Group Inc. grew its holdings in Tri Pointe Homes by 94.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,407 shares of the construction company’s stock worth $262,000 after acquiring an additional 3,588 shares during the period. TD Asset Management Inc grew its holdings in Tri Pointe Homes by 5.6% during the fourth quarter. TD Asset Management Inc now owns 84,900 shares of the construction company’s stock worth $3,005,000 after acquiring an additional 4,500 shares during the period. Finally, Rafferty Asset Management LLC grew its holdings in Tri Pointe Homes by 19.4% during the fourth quarter. Rafferty Asset Management LLC now owns 69,923 shares of the construction company’s stock worth $2,475,000 after acquiring an additional 11,381 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Tri Pointe Homes

In other news, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $44.28, for a total value of $221,400.00. Following the sale, the general counsel now directly owns 85,792 shares of the company’s stock, valued at $3,798,869.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Glenn J. Keeler sold 24,200 shares of Tri Pointe Homes stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the transaction, the chief financial officer now owns 149,108 shares in the company, valued at $6,882,825.28. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $44.28, for a total value of $221,400.00. Following the transaction, the general counsel now owns 85,792 shares in the company, valued at approximately $3,798,869.76. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company’s stock.

Wall Street Analyst Weigh In

TPH has been the topic of several analyst reports. Oppenheimer raised their target price on Tri Pointe Homes from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective on the stock in a report on Tuesday, September 17th. Evercore ISI raised Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Wedbush reissued a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday, July 25th. Finally, Royal Bank of Canada raised their price objective on Tri Pointe Homes from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $46.75.

Tri Pointe Homes Stock Performance

Shares of NYSE:TPH opened at $45.31 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The business’s 50 day moving average price is $43.57 and its 200-day moving average price is $39.92. The firm has a market capitalization of $4.24 billion, a PE ratio of 12.08, a P/E/G ratio of 0.74 and a beta of 1.59. Tri Pointe Homes, Inc. has a 1 year low of $24.18 and a 1 year high of $47.78.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Thursday, July 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.07 billion. Tri Pointe Homes had a return on equity of 14.03% and a net margin of 10.28%. The business’s revenue was up 38.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. As a group, equities research analysts expect that Tri Pointe Homes, Inc. will post 4.68 earnings per share for the current fiscal year.

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.