Tri Pointe Homes, Inc. (NYSE:TPH) Shares Acquired by GW&K Investment Management LLC

GW&K Investment Management LLC raised its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 5.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 2,036,689 shares of the construction company’s stock after buying an additional 102,187 shares during the period. GW&K Investment Management LLC’s holdings in Tri Pointe Homes were worth $73,850,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Pacer Advisors Inc. acquired a new stake in shares of Tri Pointe Homes during the fourth quarter worth approximately $118,407,000. Weiss Asset Management LP bought a new position in Tri Pointe Homes during the 3rd quarter valued at $16,066,000. Bridgewater Associates LP grew its holdings in Tri Pointe Homes by 476.3% during the 3rd quarter. Bridgewater Associates LP now owns 174,719 shares of the construction company’s stock worth $7,917,000 after acquiring an additional 144,403 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Tri Pointe Homes by 703.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,853 shares of the construction company’s stock worth $7,198,000 after purchasing an additional 139,079 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Tri Pointe Homes by 562.0% in the 3rd quarter. Quantbot Technologies LP now owns 147,238 shares of the construction company’s stock valued at $6,671,000 after purchasing an additional 124,998 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TPH has been the subject of a number of research reports. Evercore ISI decreased 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. Royal Bank of Canada lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Oppenheimer decreased their price objective on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, Wedbush reiterated a “neutral” rating and set 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 analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Tri Pointe Homes has an average rating of “Hold” and a consensus target price of $40.60.

Insider Activity

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes 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 sale, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Tri Pointe Homes Trading Down 1.3 %

Shares of NYSE TPH opened at $31.21 on Friday. Tri Pointe Homes, Inc. has a 12-month low of $30.25 and a 12-month high of $47.78. The company has a market cap of $2.87 billion, a price-to-earnings ratio of 6.46, a price-to-earnings-growth ratio of 0.67 and a beta of 1.64. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The stock’s 50 day simple moving average is $35.68 and its 200 day simple moving average is $40.31.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07. The business had revenue of $1.22 billion for 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%. Equities research analysts expect that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are 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.