Morgan Stanley Increases Stock Position in TRI Pointe Group Inc (NYSE:TPH)

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Morgan Stanley boosted its position in shares of TRI Pointe Group Inc (NYSE:TPH) by 125.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,334,620 shares of the construction company’s stock after purchasing an additional 1,296,829 shares during the period. Morgan Stanley owned approximately 1.79% of TRI Pointe Group worth $20,474,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TPH. Victory Capital Management Inc. boosted its position in TRI Pointe Group by 3,648.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,925,632 shares of the construction company’s stock valued at $16,888,000 after buying an additional 1,874,264 shares during the last quarter. Norges Bank acquired a new position in shares of TRI Pointe Group in the fourth quarter worth about $26,739,000. Fuller & Thaler Asset Management Inc. lifted its stake in shares of TRI Pointe Group by 76.4% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,919,731 shares of the construction company’s stock worth $34,376,000 after acquiring an additional 1,697,066 shares in the last quarter. Echo Street Capital Management LLC boosted its holdings in TRI Pointe Group by 34.5% in the first quarter. Echo Street Capital Management LLC now owns 4,527,884 shares of the construction company’s stock valued at $39,710,000 after purchasing an additional 1,162,244 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new stake in TRI Pointe Group during the 4th quarter valued at approximately $17,083,000.

TPH stock opened at $14.69 on Wednesday. The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 8.59 and a beta of 1.64. TRI Pointe Group Inc has a 1-year low of $5.89 and a 1-year high of $18.63. The firm has a fifty day moving average price of $13.69 and a two-hundred day moving average price of $13.72. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.80 and a quick ratio of 1.80.

TRI Pointe Group (NYSE:TPH) last posted its quarterly earnings results on Thursday, April 23rd. The construction company reported $0.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.08. The business had revenue of $595.46 million during the quarter, compared to analyst estimates of $566.91 million. TRI Pointe Group had a net margin of 7.51% and a return on equity of 11.25%. TRI Pointe Group’s revenue for the quarter was up 20.5% compared to the same quarter last year. As a group, analysts expect that TRI Pointe Group Inc will post 1.19 EPS for the current fiscal year.

TPH has been the subject of several research analyst reports. B. Riley cut TRI Pointe Group from a “buy” rating to a “neutral” rating and reduced their target price for the company from $20.00 to $11.00 in a research note on Tuesday, March 17th. Wells Fargo & Co increased their price objective on shares of TRI Pointe Group from $11.00 to $16.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 3rd. ValuEngine lowered shares of TRI Pointe Group from a “sell” rating to a “strong sell” rating in a report on Friday, May 1st. Wedbush upped their target price on shares of TRI Pointe Group from $12.00 to $15.00 and gave the company a “neutral” rating in a research note on Tuesday, June 2nd. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $16.00 price target on shares of TRI Pointe Group in a research note on Wednesday, March 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. TRI Pointe Group currently has an average rating of “Hold” and an average target price of $14.80.

About TRI Pointe Group

TRI Pointe Group, Inc engages in the design, construction, and sale of single-family detached and attached homes in the United States. It operates a portfolio of 6 brands across 10 states, including Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and Colorado; and Winchester Homes in Maryland and Virginia.

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Institutional Ownership by Quarter for TRI Pointe Group (NYSE:TPH)

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