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

Assenagon Asset Management S.A. lowered its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 36.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 903,548 shares of the construction company’s stock after selling 513,715 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Tri Pointe Homes were worth $32,763,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in TPH. Acadian Asset Management LLC purchased a new stake in Tri Pointe Homes in the second quarter valued at approximately $271,000. Federated Hermes Inc. grew its position in Tri Pointe Homes by 10,048.1% in the second quarter. Federated Hermes Inc. now owns 35,011 shares of the construction company’s stock worth $1,304,000 after acquiring an additional 34,666 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Tri Pointe Homes in the second quarter valued at $536,000. Envestnet Asset Management Inc. raised its position in Tri Pointe Homes by 95.0% during the second quarter. Envestnet Asset Management Inc. now owns 123,365 shares of the construction company’s stock valued at $4,595,000 after purchasing an additional 60,093 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in Tri Pointe Homes during the second quarter worth about $324,000. Institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Stock Up 0.3 %

Shares of Tri Pointe Homes stock opened at $37.55 on Friday. 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 52-week low of $33.24 and a 52-week high of $47.78. The company’s 50 day moving average price is $39.42 and its 200-day moving average price is $41.64. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 7.79, a P/E/G ratio of 0.55 and a beta of 1.64.

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

Tri Pointe Homes declared that its Board of Directors has approved a stock buyback program on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 7.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the completion of the transaction, the chief operating officer now owns 708,159 shares in the company, valued at $27,724,424.85. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wedbush reissued a “neutral” rating and set a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday, October 24th. Oppenheimer lowered their price objective on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 25th. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Royal Bank of Canada lowered their price target on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Tri Pointe Homes presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.75.

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.