Phocas Financial Corp. Lowers Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Phocas Financial Corp. decreased its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 85.1% in the 4th quarter, HoldingsChannel.com reports. The firm owned 32,949 shares of the construction company’s stock after selling 187,824 shares during the quarter. Phocas Financial Corp.’s holdings in Tri Pointe Homes were worth $1,195,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Reston Wealth Management LLC acquired a new position in Tri Pointe Homes during the 3rd quarter worth approximately $45,000. Venturi Wealth Management LLC lifted its position in shares of Tri Pointe Homes by 562.1% during the fourth quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock worth $81,000 after purchasing an additional 1,900 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Tri Pointe Homes by 51.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock valued at $84,000 after purchasing an additional 789 shares during the period. Blue Trust Inc. grew its holdings in Tri Pointe Homes by 33.5% during the 3rd quarter. Blue Trust Inc. now owns 2,368 shares of the construction company’s stock valued at $107,000 after purchasing an additional 594 shares in the last quarter. Finally, KBC Group NV increased its stake in Tri Pointe Homes by 65.9% during the 4th quarter. KBC Group NV now owns 4,254 shares of the construction company’s stock worth $154,000 after buying an additional 1,690 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Oppenheimer lowered their price objective 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. Evercore ISI reduced their price objective on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada lowered shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. StockNews.com downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Wedbush reaffirmed a “neutral” rating and set a $38.00 price objective (down previously from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $40.60.

Insider Transactions at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction 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 sale, the chief operating officer now directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. This trade 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 accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Tri Pointe Homes Stock Performance

TPH stock opened at $32.65 on Wednesday. The company has a 50-day simple moving average of $35.89 and a 200 day simple moving average of $40.44. The company has a market capitalization of $3.06 billion, a P/E ratio of 6.76, a PEG ratio of 0.67 and a beta of 1.64. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. Tri Pointe Homes, Inc. has a fifty-two week low of $30.25 and a fifty-two week high of $47.78.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Sell-side analysts predict 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 approved a share repurchase program on Wednesday, December 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to repurchase up to 7.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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.