3,265,510 Shares in Tri Pointe Homes, Inc. (NYSE:TPH) Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. bought a new position in Tri Pointe Homes, Inc. (NYSE:TPH) during the fourth quarter, Holdings Channel reports. The institutional investor bought 3,265,510 shares of the construction company’s stock, valued at approximately $118,407,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TPH. KBC Group NV lifted its holdings in shares of Tri Pointe Homes by 65.9% in the 4th quarter. KBC Group NV now owns 4,254 shares of the construction company’s stock worth $154,000 after purchasing an additional 1,690 shares during the last quarter. Blue Trust Inc. lifted its stake in Tri Pointe Homes by 72.8% in the fourth quarter. Blue Trust Inc. now owns 4,093 shares of the construction company’s stock valued at $148,000 after buying an additional 1,725 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its stake in Tri Pointe Homes by 24.8% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 24,012 shares of the construction company’s stock valued at $871,000 after buying an additional 4,765 shares during the last quarter. Inspire Investing LLC boosted its holdings in shares of Tri Pointe Homes by 17.8% during the fourth quarter. Inspire Investing LLC now owns 12,077 shares of the construction company’s stock valued at $438,000 after acquiring an additional 1,829 shares during the period. Finally, Janney Montgomery Scott LLC grew its position in shares of Tri Pointe Homes by 4.9% during the fourth quarter. Janney Montgomery Scott LLC now owns 13,998 shares of the construction company’s stock worth $508,000 after acquiring an additional 648 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $39.15, for a total value of $3,029,583.60. Following the transaction, the chief operating officer now owns 708,159 shares of the company’s stock, valued at $27,724,424.85. The trade was a 9.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Tri Pointe Homes Trading Down 0.9 %

Shares of NYSE:TPH opened at $37.33 on Monday. The company has a 50 day moving average of $38.85 and a 200-day moving average of $41.72. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The firm has a market cap of $3.49 billion, a P/E ratio of 7.75, a P/E/G ratio of 0.60 and a beta of 1.64. Tri Pointe Homes, Inc. has a twelve month low of $33.24 and a twelve month high of $47.78.

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

Tri Pointe Homes announced that its Board of Directors has authorized a share buyback program on Wednesday, December 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.