5,525 Shares in Tri Pointe Homes, Inc. (NYSE:TPH) Acquired by CIBC Asset Management Inc

CIBC Asset Management Inc bought a new stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,525 shares of the construction company’s stock, valued at approximately $250,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp grew its holdings in Tri Pointe Homes by 1.5% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,094 shares of the construction company’s stock worth $959,000 after acquiring an additional 376 shares during the period. CANADA LIFE ASSURANCE Co lifted its stake in Tri Pointe Homes by 2.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 108,572 shares of the construction company’s stock valued at $4,196,000 after buying an additional 2,621 shares during the period. Magnetar Financial LLC acquired a new position in Tri Pointe Homes in the first quarter valued at approximately $884,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Tri Pointe Homes by 4.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 79,976 shares of the construction company’s stock worth $3,092,000 after buying an additional 3,384 shares in the last quarter. Finally, Bamco Inc. NY bought a new position in shares of Tri Pointe Homes during the 1st quarter worth approximately $3,295,000. Institutional investors own 97.01% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Royal Bank of Canada cut their target price on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Wedbush reissued a “neutral” rating and set a $42.00 price objective on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Oppenheimer decreased their target price on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Evercore ISI upgraded Tri Pointe Homes to a “strong-buy” rating in a 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 price objective for the company in a 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 given a strong buy rating to the company. According to data from MarketBeat.com, Tri Pointe Homes currently has an average rating of “Moderate Buy” and an average price target of $45.75.

Tri Pointe Homes Price Performance

Shares of NYSE TPH opened at $42.62 on Friday. The stock has a market cap of $3.99 billion, a price-to-earnings ratio of 8.84, a PEG ratio of 0.68 and a beta of 1.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64. Tri Pointe Homes, Inc. has a fifty-two week low of $28.74 and a fifty-two week high of $47.78. The firm’s 50-day simple moving average is $43.29 and its 200 day simple moving average is $41.51.

Tri Pointe Homes (NYSE:TPH) last announced its earnings results on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.07 by $0.11. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the company posted $0.76 earnings per share. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis. As a group, research analysts anticipate that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction 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 completion of the transaction, the general counsel now directly owns 85,792 shares in the company, valued at approximately $3,798,869.76. The trade was a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Tri Pointe Homes 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.