Legal & General Group Plc Lowers Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Legal & General Group Plc reduced its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 2.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 268,016 shares of the construction company’s stock after selling 6,405 shares during the quarter. Legal & General Group Plc’s holdings in Tri Pointe Homes were worth $9,718,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. HighTower Advisors LLC acquired a new position in shares of Tri Pointe Homes during the fourth quarter worth about $5,553,000. Principal Financial Group Inc. increased its position in Tri Pointe Homes by 3.5% during the 4th quarter. Principal Financial Group Inc. now owns 486,100 shares of the construction company’s stock worth $17,626,000 after purchasing an additional 16,380 shares during the period. William Blair Investment Management LLC lifted its holdings in shares of Tri Pointe Homes by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,138,547 shares of the construction company’s stock valued at $41,284,000 after buying an additional 27,691 shares during the period. GW&K Investment Management LLC boosted its stake in shares of Tri Pointe Homes by 5.3% in the fourth quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company’s stock valued at $73,850,000 after buying an additional 102,187 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Tri Pointe Homes in the fourth quarter valued at approximately $13,342,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Stock Performance

NYSE:TPH opened at $29.50 on Friday. Tri Pointe Homes, Inc. has a twelve month low of $27.90 and a twelve month high of $47.78. The company has a market capitalization of $2.71 billion, a P/E ratio of 6.11, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44. 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 firm has a 50-day moving average price of $31.71 and a two-hundred day moving average price of $37.18.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. As a group, research analysts expect that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TPH has been the subject of a number of recent analyst reports. Wedbush reissued a “neutral” rating and issued a $38.00 target price (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Royal Bank of Canada cut shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. Oppenheimer lowered their target price on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Seaport Res Ptn upgraded shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Finally, Evercore ISI lowered their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.60.

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.