Intech Investment Management LLC Makes New $1.09 Million Investment in Tri Pointe Homes, Inc. (NYSE:TPH)

Intech Investment Management LLC purchased a new stake in Tri Pointe Homes, Inc. (NYSE:TPH) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 24,066 shares of the construction company’s stock, valued at approximately $1,090,000.

Other hedge funds also recently modified their holdings of the company. Gradient Investments LLC acquired a new position in Tri Pointe Homes in the 2nd quarter valued at approximately $30,000. Reston Wealth Management LLC acquired a new stake in Tri Pointe Homes in the third quarter valued at $45,000. GAMMA Investing LLC raised its position in Tri Pointe Homes by 63.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company’s stock worth $57,000 after purchasing an additional 588 shares during the last quarter. Blue Trust Inc. lifted its holdings in Tri Pointe Homes by 31.7% during the 2nd quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock worth $69,000 after buying an additional 427 shares during the period. Finally, CWM LLC grew its position in shares of Tri Pointe Homes by 70.8% in the 2nd quarter. CWM LLC now owns 2,220 shares of the construction company’s stock valued at $83,000 after buying an additional 920 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Insider Activity at Tri Pointe Homes

In other news, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $221,400.00. Following the completion of the transaction, the general counsel now directly owns 85,792 shares in the company, valued at $3,798,869.76. This trade represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TPH has been the subject of a number of analyst reports. Wedbush restated a “neutral” rating and set a $42.00 price objective on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target for the company in a report on Tuesday, September 17th. Oppenheimer reduced their price objective on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Royal Bank of Canada decreased their price objective on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.75.

Tri Pointe Homes Stock Performance

NYSE:TPH opened at $43.62 on Thursday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. Tri Pointe Homes, Inc. has a twelve month low of $28.74 and a twelve month high of $47.78. The company has a fifty day moving average of $43.21 and a 200-day moving average of $41.63. The firm has a market capitalization of $4.08 billion, a P/E ratio of 9.05, a P/E/G ratio of 0.73 and a beta of 1.60.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.11. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The business’s revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.76 earnings per share. As a group, sell-side analysts anticipate that Tri Pointe Homes, Inc. will post 4.72 EPS for the current year.

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.