Arizona State Retirement System Sells 829 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Arizona State Retirement System trimmed its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 2.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,673 shares of the construction company’s stock after selling 829 shares during the quarter. Arizona State Retirement System’s holdings in Tri Pointe Homes were worth $980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership grew its position in Tri Pointe Homes by 1,387.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 1,906,274 shares of the construction company’s stock worth $48,267,000 after buying an additional 1,778,149 shares in the last quarter. Pacer Advisors Inc. grew its position in Tri Pointe Homes by 63.8% during the fourth quarter. Pacer Advisors Inc. now owns 3,913,521 shares of the construction company’s stock worth $138,539,000 after buying an additional 1,524,401 shares in the last quarter. Norges Bank purchased a new position in Tri Pointe Homes during the fourth quarter worth about $17,632,000. Balyasny Asset Management LLC grew its position in Tri Pointe Homes by 404.3% during the third quarter. Balyasny Asset Management LLC now owns 704,772 shares of the construction company’s stock worth $10,649,000 after buying an additional 565,011 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Tri Pointe Homes by 73.2% during the first quarter. Renaissance Technologies LLC now owns 883,736 shares of the construction company’s stock worth $17,745,000 after buying an additional 373,400 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Insider Activity

In other news, COO Thomas J. Mitchell sold 51,533 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total value of $1,814,992.26. Following the completion of the sale, the chief operating officer now owns 785,543 shares of the company’s stock, valued at approximately $27,666,824.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

Tri Pointe Homes Price Performance

TPH opened at $34.98 on Wednesday. The stock has a 50-day moving average price of $35.68 and a 200-day moving average price of $32.50. Tri Pointe Homes, Inc. has a 12-month low of $24.18 and a 12-month high of $39.08. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $3.34 billion, a P/E ratio of 10.14, a PEG ratio of 0.76 and a beta of 1.54.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.24. Tri Pointe Homes had a return on equity of 11.75% and a net margin of 9.37%. The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the business earned $1.98 EPS. The company’s revenue for the quarter was down 17.5% compared to the same quarter last year. Equities analysts predict that Tri Pointe Homes, Inc. will post 3.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on TPH. Wedbush restated a “neutral” rating and set a $32.00 target price on shares of Tri Pointe Homes in a research report on Tuesday, February 20th. Royal Bank of Canada upgraded Tri Pointe Homes from a “sector perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research report on Wednesday, March 13th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $41.00 price objective (up from $36.00) on shares of Tri Pointe Homes in a report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $38.20.

Tri Pointe Homes Company 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.