Martingale Asset Management L P Buys 14,087 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Martingale Asset Management L P increased its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 43.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 46,261 shares of the construction company’s stock after buying an additional 14,087 shares during the quarter. Martingale Asset Management L P’s holdings in Tri Pointe Homes were worth $1,677,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TPH. Pacer Advisors Inc. purchased a new position in shares of Tri Pointe Homes in the 4th quarter worth about $118,407,000. Norges Bank purchased a new position in Tri Pointe Homes in the fourth quarter valued at about $14,815,000. Raymond James Financial Inc. bought a new position in shares of Tri Pointe Homes during the 4th quarter valued at approximately $13,342,000. Boston Partners bought a new position in shares of Tri Pointe Homes during the 4th quarter valued at approximately $8,888,000. Finally, American Century Companies Inc. increased its stake in shares of Tri Pointe Homes by 14.0% during the 4th quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company’s stock worth $70,579,000 after purchasing an additional 238,807 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Stock Up 0.2 %

Shares of NYSE TPH opened at $29.17 on Friday. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The company has a market cap of $2.68 billion, a P/E ratio of 6.04, a P/E/G ratio of 0.67 and a beta of 1.44. Tri Pointe Homes, Inc. has a 52 week low of $27.90 and a 52 week high of $47.78. The business has a 50-day simple moving average of $32.24 and a two-hundred day simple moving average of $37.56.

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

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

Analysts Set New Price Targets

TPH has been the subject of several research reports. Oppenheimer reduced their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Evercore ISI decreased their price objective on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Seaport Res Ptn raised shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Finally, Wedbush reiterated a “neutral” rating and issued a $38.00 target price (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Four investment 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $40.60.

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.