New York State Teachers Retirement System cut its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH – Free Report) by 1.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,825 shares of the construction company’s stock after selling 1,000 shares during the quarter. New York State Teachers Retirement System owned 0.06% of Tri Pointe Homes worth $2,130,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the company. Ameritas Investment Partners Inc. grew its stake in Tri Pointe Homes by 5.2% in the first quarter. Ameritas Investment Partners Inc. now owns 8,103 shares of the construction company’s stock valued at $205,000 after purchasing an additional 402 shares in the last quarter. Captrust Financial Advisors grew its stake in Tri Pointe Homes by 30.4% in the first quarter. Captrust Financial Advisors now owns 2,275 shares of the construction company’s stock valued at $46,000 after purchasing an additional 531 shares in the last quarter. MetLife Investment Management LLC grew its stake in Tri Pointe Homes by 1.1% in the fourth quarter. MetLife Investment Management LLC now owns 53,539 shares of the construction company’s stock valued at $995,000 after purchasing an additional 559 shares in the last quarter. Arizona State Retirement System grew its stake in Tri Pointe Homes by 2.0% in the first quarter. Arizona State Retirement System now owns 29,240 shares of the construction company’s stock valued at $740,000 after purchasing an additional 561 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in Tri Pointe Homes by 2.5% in the first quarter. Federated Hermes Inc. now owns 28,674 shares of the construction company’s stock valued at $576,000 after purchasing an additional 698 shares in the last quarter. 97.59% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on TPH shares. Wedbush raised their price target 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. StockNews.com initiated coverage on Tri Pointe Homes in a research note on Thursday, October 5th. They set a “hold” rating for the company. Royal Bank of Canada lifted their target price on Tri Pointe Homes from $29.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday, July 28th. Oppenheimer upgraded Tri Pointe Homes from a “market perform” rating to an “outperform” rating and set a $36.00 target price for the company in a research note on Thursday, September 7th. Finally, Wolfe Research upgraded Tri Pointe Homes from a “peer perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research note on Monday, August 7th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.
Tri Pointe Homes Stock Performance
TPH opened at $24.67 on Monday. The business has a fifty day simple moving average of $28.56 and a 200 day simple moving average of $29.70. The company has a market capitalization of $2.44 billion, a PE ratio of 5.18, a price-to-earnings-growth ratio of 0.61 and a beta of 1.50. Tri Pointe Homes, Inc. has a 1 year low of $14.69 and a 1 year high of $34.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.18 and a quick ratio of 2.18.
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, beating the consensus estimate of $0.55 by $0.05. The business 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%. Research analysts expect that Tri Pointe Homes, Inc. will post 3.1 EPS for the current year.
Insider Activity at Tri Pointe Homes
In related news, Director Lawrence B. Burrows sold 7,677 shares of the business’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $31.48, for a total value of $241,671.96. Following the completion of the sale, the director now directly owns 86,891 shares in the company, valued at approximately $2,735,328.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by corporate 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.
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