Tri Pointe Homes, Inc. (NYSE:TPH) Shares Sold by Summit Global Investments

Summit Global Investments lowered its holdings in Tri Pointe Homes, Inc. (NYSE:TPH) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 29,901 shares of the construction company’s stock after selling 2,853 shares during the quarter. Summit Global Investments’ holdings in Tri Pointe Homes were worth $1,084,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TPH. GSA Capital Partners LLP lifted its holdings in Tri Pointe Homes by 4.4% in the third quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company’s stock valued at $280,000 after acquiring an additional 258 shares during the period. OneDigital Investment Advisors LLC acquired a new stake in Tri Pointe Homes in the third quarter valued at $217,000. CIBC Asset Management Inc acquired a new stake in Tri Pointe Homes in the third quarter valued at $250,000. Natixis Advisors LLC lifted its holdings in Tri Pointe Homes by 33.5% in the third quarter. Natixis Advisors LLC now owns 57,077 shares of the construction company’s stock valued at $2,586,000 after acquiring an additional 14,337 shares during the period. Finally, Jennison Associates LLC lifted its holdings in Tri Pointe Homes by 27.1% in the third quarter. Jennison Associates LLC now owns 52,197 shares of the construction company’s stock valued at $2,365,000 after acquiring an additional 11,131 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Trading Down 1.9 %

Tri Pointe Homes stock opened at $31.37 on Friday. The stock has a market cap of $2.88 billion, a PE ratio of 6.49, a P/E/G ratio of 0.67 and a beta of 1.71. The stock has a 50-day moving average price of $34.29 and a 200 day moving average price of $39.03. Tri Pointe Homes, Inc. has a 52 week low of $30.25 and a 52 week high of $47.78. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. Equities research analysts predict that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its board has approved a stock repurchase plan on Wednesday, December 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on TPH. Wedbush reaffirmed a “neutral” rating and set a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Seaport Res Ptn raised Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Oppenheimer cut their price target on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada downgraded Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $41.00 to $37.00 in a research note on Wednesday, February 19th. Finally, Evercore ISI cut their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Four equities research 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’s stock. According to MarketBeat, Tri Pointe Homes currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.60.

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.