Franklin Resources Inc. Purchases 31,094 Shares of Tri Pointe Homes Inc. $TPH

Franklin Resources Inc. raised its holdings in shares of Tri Pointe Homes Inc. (NYSE:TPH) by 4.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 764,832 shares of the construction company’s stock after acquiring an additional 31,094 shares during the quarter. Franklin Resources Inc. owned approximately 0.84% of Tri Pointe Homes worth $24,436,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Nuveen LLC bought a new position in shares of Tri Pointe Homes in the 1st quarter valued at about $43,906,000. AE Wealth Management LLC increased its position in Tri Pointe Homes by 4,456.8% during the second quarter. AE Wealth Management LLC now owns 348,918 shares of the construction company’s stock valued at $11,148,000 after acquiring an additional 341,261 shares during the last quarter. First Wilshire Securities Management Inc. purchased a new stake in shares of Tri Pointe Homes in the first quarter valued at $9,987,000. M&G PLC purchased a new stake in shares of Tri Pointe Homes in the second quarter valued at $9,646,000. Finally, Boston Partners lifted its holdings in shares of Tri Pointe Homes by 108.8% in the 1st quarter. Boston Partners now owns 511,741 shares of the construction company’s stock worth $16,333,000 after acquiring an additional 266,685 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Price Performance

Shares of TPH stock opened at $34.25 on Friday. The company has a market capitalization of $2.94 billion, a P/E ratio of 10.10, a P/E/G ratio of 0.83 and a beta of 1.28. The company’s 50-day simple moving average is $32.51 and its two-hundred day simple moving average is $32.71. Tri Pointe Homes Inc. has a one year low of $27.90 and a one year high of $44.52. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.01 and a quick ratio of 2.01.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Thursday, October 23rd. The construction company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.20. Tri Pointe Homes had a return on equity of 9.79% and a net margin of 8.44%.The firm had revenue of $836.87 million during the quarter, compared to analyst estimates of $782.22 million. During the same quarter in the previous year, the business earned $1.18 earnings per share. Tri Pointe Homes’s quarterly revenue was down 26.6% on a year-over-year basis. As a group, equities analysts anticipate that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TPH shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Tri Pointe Homes in a report on Thursday, October 30th. Evercore ISI reaffirmed an “in-line” rating and set a $34.00 target price (down previously from $38.00) on shares of Tri Pointe Homes in a research note on Tuesday, October 7th. Finally, Wall Street Zen upgraded Tri Pointe Homes from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $39.25.

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.