Oppenheimer Asset Management Inc. Raises Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Oppenheimer Asset Management Inc. grew its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 80.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,042 shares of the construction company’s stock after purchasing an additional 11,649 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Tri Pointe Homes were worth $1,180,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Gradient Investments LLC purchased a new stake in shares of Tri Pointe Homes during the 2nd quarter worth $30,000. Reston Wealth Management LLC purchased a new stake in shares of Tri Pointe Homes during the 3rd quarter worth $45,000. GAMMA Investing LLC boosted its position in shares of 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 in the last quarter. Blue Trust Inc. boosted its position in shares of 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 purchasing an additional 427 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Tri Pointe Homes by 70.8% during the 2nd quarter. CWM LLC now owns 2,220 shares of the construction company’s stock worth $83,000 after purchasing an additional 920 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, General Counsel David Ch Lee sold 5,000 shares of the company’s 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 owns 85,792 shares of the company’s stock, valued at $3,798,869.76. This represents a 5.51 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.00% of the company’s stock.

Tri Pointe Homes Trading Down 0.6 %

Shares of TPH stock opened at $41.56 on Tuesday. The firm has a 50-day moving average price of $43.33 and a 200 day moving average price of $41.46. Tri Pointe Homes, Inc. has a twelve month low of $28.74 and a twelve month high of $47.78. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 8.62, a PEG ratio of 0.68 and a beta of 1.60. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH) last announced its 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. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the company posted $0.76 EPS. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis. Research analysts forecast that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on TPH shares. Evercore ISI raised Tri Pointe Homes to a “strong-buy” rating in a research note on Friday, July 26th. Oppenheimer cut their price target on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Wedbush reaffirmed a “neutral” rating and set a $42.00 price target on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target for the company in a research note on Tuesday, September 17th. Finally, Royal Bank of Canada cut their price target on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $45.75.

About Tri Pointe Homes

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.