Rhumbline Advisers lifted its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH – Free Report) by 4.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 354,289 shares of the construction company’s stock after purchasing an additional 14,156 shares during the period. Rhumbline Advisers owned approximately 0.35% of Tri Pointe Homes worth $8,971,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of TPH. Raymond James & Associates raised its position in shares of Tri Pointe Homes by 2.1% during the first quarter. Raymond James & Associates now owns 176,362 shares of the construction company’s stock worth $3,541,000 after purchasing an additional 3,591 shares during the period. Natixis Advisors L.P. raised its position in Tri Pointe Homes by 53.8% during the first quarter. Natixis Advisors L.P. now owns 25,492 shares of the construction company’s stock valued at $512,000 after buying an additional 8,922 shares during the period. Bank of Montreal Can raised its position in Tri Pointe Homes by 25.8% during the first quarter. Bank of Montreal Can now owns 10,793 shares of the construction company’s stock valued at $224,000 after buying an additional 2,213 shares during the period. MetLife Investment Management LLC raised its position in Tri Pointe Homes by 39.4% during the first quarter. MetLife Investment Management LLC now owns 128,677 shares of the construction company’s stock valued at $2,584,000 after buying an additional 36,396 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Tri Pointe Homes by 10.5% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 40,731 shares of the construction company’s stock valued at $818,000 after buying an additional 3,884 shares during the period. 97.59% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Tri Pointe Homes
In other news, Director Lawrence B. Burrows sold 7,677 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $31.48, for a total transaction of $241,671.96. Following the completion of the sale, the director now owns 86,891 shares in the company, valued at approximately $2,735,328.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Glenn J. Keeler sold 21,413 shares of the business’s stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $33.01, for a total transaction of $706,843.13. Following the completion of the transaction, the chief financial officer now owns 102,194 shares of the company’s stock, valued at approximately $3,373,423.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Lawrence B. Burrows sold 7,677 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $31.48, for a total value of $241,671.96. Following the transaction, the director now directly owns 86,891 shares of the company’s stock, valued at approximately $2,735,328.68. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
Tri Pointe Homes Stock Performance
Tri Pointe Homes (NYSE:TPH – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The construction company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.05. The company had revenue of $819.08 million during the quarter, compared to the consensus estimate of $703.67 million. Tri Pointe Homes had a return on equity of 17.37% and a net margin of 11.71%. As a group, equities research analysts forecast that Tri Pointe Homes, Inc. will post 3.1 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms recently weighed in on TPH. StockNews.com began coverage on Tri Pointe Homes in a research report on Thursday, August 17th. They set a “hold” rating on the stock. Wolfe Research upgraded Tri Pointe Homes from a “peer perform” rating to an “outperform” rating and set a $38.00 target price on the stock in a research note on Monday, August 7th. Wedbush boosted their target price on Tri Pointe Homes from $30.00 to $36.00 and gave the company an “outperform” rating in a research note on Tuesday, August 1st. Royal Bank of Canada boosted their target price on Tri Pointe Homes from $29.00 to $32.00 and gave the company a “sector perform” rating in a research note on Friday, July 28th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Tri Pointe Homes in a research note on Wednesday, May 31st. They issued a “buy” rating and a $42.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $33.00.
Read Our Latest Analysis on TPH
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.
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