State of Tennessee Department of Treasury Increases Stock Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

State of Tennessee Department of Treasury increased its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 30.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 52,039 shares of the construction company’s stock after buying an additional 12,075 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Tri Pointe Homes were worth $1,887,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its holdings in shares of Tri Pointe Homes by 67.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,578 shares of the construction company’s stock worth $130,000 after buying an additional 1,445 shares during the last quarter. MetLife Investment Management LLC increased its stake in Tri Pointe Homes by 5.5% during the fourth quarter. MetLife Investment Management LLC now owns 55,622 shares of the construction company’s stock worth $2,017,000 after acquiring an additional 2,893 shares during the last quarter. Commerce Bank raised its holdings in shares of Tri Pointe Homes by 14.4% in the 4th quarter. Commerce Bank now owns 12,430 shares of the construction company’s stock worth $451,000 after purchasing an additional 1,560 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Tri Pointe Homes by 955.1% in the 4th quarter. Canada Pension Plan Investment Board now owns 51,700 shares of the construction company’s stock valued at $1,875,000 after purchasing an additional 46,800 shares in the last quarter. Finally, Bridgewater Associates LP grew its holdings in shares of Tri Pointe Homes by 2.5% during the 4th quarter. Bridgewater Associates LP now owns 179,012 shares of the construction company’s stock worth $6,491,000 after purchasing an additional 4,293 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on TPH. Royal Bank of Canada lowered shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. Seaport Res Ptn raised shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Wedbush raised shares of Tri Pointe Homes from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $38.00 to $43.00 in a research report on Monday. Evercore ISI lowered their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, Oppenheimer reduced their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.60.

Insider Activity

In related news, CEO Douglas F. Bauer sold 120,287 shares of the company’s stock in a transaction on Monday, April 28th. The shares were sold at an average price of $30.15, for a total value of $3,626,653.05. Following the sale, the chief executive officer now directly owns 627,833 shares of the company’s stock, valued at $18,929,164.95. This represents a 16.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.70% of the company’s stock.

Tri Pointe Homes Stock Performance

Shares of TPH stock opened at $30.10 on Wednesday. The company’s fifty day moving average price is $31.07 and its two-hundred day moving average price is $36.37. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64. The firm has a market capitalization of $2.76 billion, a P/E ratio of 6.23, a P/E/G ratio of 0.67 and a beta of 1.44. Tri Pointe Homes, Inc. has a 12 month low of $27.90 and a 12 month high of $47.78.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Thursday, April 24th. The construction company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.25. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The firm had revenue of $720.79 million during the quarter, compared to analyst estimates of $713.65 million. During the same quarter last year, the firm earned $1.03 EPS. Tri Pointe Homes’s quarterly revenue was down 21.5% on a year-over-year basis. On average, research analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

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.