Public Sector Pension Investment Board Cuts Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Public Sector Pension Investment Board cut its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 4.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 198,556 shares of the construction company’s stock after selling 10,200 shares during the period. Public Sector Pension Investment Board’s holdings in Tri Pointe Homes were worth $8,997,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TPH. Assenagon Asset Management S.A. raised its holdings in Tri Pointe Homes by 260.8% in the 3rd quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock worth $64,216,000 after acquiring an additional 1,024,425 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Tri Pointe Homes by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,165,651 shares of the construction company’s stock worth $52,816,000 after purchasing an additional 115,099 shares in the last quarter. Millennium Management LLC raised its stake in shares of Tri Pointe Homes by 14.1% in the second quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock worth $34,475,000 after purchasing an additional 114,244 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Tri Pointe Homes by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company’s stock valued at $34,135,000 after purchasing an additional 31,041 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in shares of Tri Pointe Homes by 0.8% during the third quarter. Fisher Asset Management LLC now owns 725,537 shares of the construction company’s stock valued at $32,874,000 after buying an additional 6,079 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.

Insider Activity

In related news, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the sale, the general counsel now owns 85,792 shares of the company’s stock, valued at approximately $3,798,869.76. This trade represents a 5.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Tri Pointe Homes Stock Performance

Shares of NYSE TPH opened at $43.53 on Friday. Tri Pointe Homes, Inc. has a 12-month low of $28.74 and a 12-month high of $47.78. The firm has a market capitalization of $4.07 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 0.71 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. The firm has a 50 day moving average of $43.14 and a 200 day moving average of $41.68.

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

Analyst Ratings Changes

TPH has been the topic of several research analyst reports. Wedbush restated a “neutral” rating and set a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Oppenheimer dropped their target price on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Zelman & Associates raised shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price for the company in a research report on Tuesday, September 17th. Finally, Royal Bank of Canada lowered their price target on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Two investment 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target 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.