Bridgewater Associates LP Buys 4,293 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Bridgewater Associates LP boosted its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 2.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 179,012 shares of the construction company’s stock after purchasing an additional 4,293 shares during the quarter. Bridgewater Associates LP’s holdings in Tri Pointe Homes were worth $6,491,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new stake in shares of Tri Pointe Homes during the 4th quarter worth about $118,407,000. Norges Bank acquired a new stake in shares of Tri Pointe Homes during the fourth quarter worth approximately $14,815,000. Raymond James Financial Inc. bought a new position in shares of Tri Pointe Homes in the fourth quarter valued at approximately $13,342,000. Boston Partners acquired a new position in shares of Tri Pointe Homes in the 4th quarter worth approximately $8,888,000. Finally, American Century Companies Inc. grew its position in 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 acquiring an additional 238,807 shares during the last quarter. 97.01% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TPH shares. Seaport Res Ptn raised Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Royal Bank of Canada lowered shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Oppenheimer lowered 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 research report on Wednesday, February 19th. Wedbush reiterated a “neutral” rating and set a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Finally, Evercore ISI lowered their price target on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Four research 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.60.

Tri Pointe Homes Stock Down 0.8 %

Shares of NYSE:TPH opened at $29.07 on Thursday. The company has a 50 day moving average of $31.83 and a 200-day moving average of $37.29. Tri Pointe Homes, Inc. has a one year low of $27.90 and a one year high of $47.78. The stock has a market cap of $2.67 billion, a price-to-earnings ratio of 6.02, a P/E/G ratio of 0.67 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results 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%. On average, sell-side analysts forecast that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its board has initiated a stock buyback program on Wednesday, December 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.