Assenagon Asset Management S.A. Raises Stock Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Assenagon Asset Management S.A. increased its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 260.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,417,263 shares of the construction company’s stock after acquiring an additional 1,024,425 shares during the period. Assenagon Asset Management S.A. owned approximately 1.51% of Tri Pointe Homes worth $64,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. PNC Financial Services Group Inc. increased its holdings in shares of Tri Pointe Homes by 94.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,407 shares of the construction company’s stock worth $262,000 after purchasing an additional 3,588 shares during the period. Oliver Luxxe Assets LLC boosted its position in shares of Tri Pointe Homes by 1.2% during the 1st quarter. Oliver Luxxe Assets LLC now owns 29,399 shares of the construction company’s stock valued at $1,137,000 after acquiring an additional 354 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new position in shares of Tri Pointe Homes during the first quarter worth about $200,000. Principal Financial Group Inc. increased its position in shares of Tri Pointe Homes by 0.4% in the first quarter. Principal Financial Group Inc. now owns 530,036 shares of the construction company’s stock worth $20,491,000 after purchasing an additional 2,211 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its stake in Tri Pointe Homes by 132.8% in the first quarter. BNP Paribas Financial Markets now owns 122,337 shares of the construction company’s stock valued at $4,730,000 after purchasing an additional 69,789 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wedbush reissued a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a report on Thursday. Oppenheimer increased their target price on Tri Pointe Homes from $54.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Evercore ISI raised Tri Pointe Homes to a “strong-buy” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price objective on Tri Pointe Homes from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Zelman & Associates upgraded Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price for the company in a research report on Tuesday, September 17th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Tri Pointe Homes has a consensus rating of “Moderate Buy” and an average target price of $47.25.

Tri Pointe Homes Stock Down 4.2 %

Shares of NYSE:TPH opened at $40.73 on Friday. The stock has a market capitalization of $3.81 billion, a P/E ratio of 9.26, a price-to-earnings-growth ratio of 0.70 and a beta of 1.59. The stock’s 50-day moving average price is $44.01 and its 200-day moving average price is $40.81. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Tri Pointe Homes, Inc. has a 12-month low of $24.18 and a 12-month high of $47.78.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.16. The business had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Tri Pointe Homes had a return on equity of 14.03% and a net margin of 10.28%. The business’s quarterly revenue was up 34.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.76 EPS. On average, equities analysts anticipate that Tri Pointe Homes, Inc. will post 4.68 earnings per share for the current year.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, CFO Glenn J. Keeler sold 24,200 shares of the business’s stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $46.16, for a total value of $1,117,072.00. Following the transaction, the chief financial officer now owns 149,108 shares in the company, valued at approximately $6,882,825.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other 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 value of $1,117,072.00. Following the sale, the chief financial officer now directly owns 149,108 shares in the company, valued at approximately $6,882,825.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel David Ch Lee sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were 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 of the company’s stock, valued at approximately $3,798,869.76. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

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.