Wellington Management Group LLP Trims Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Wellington Management Group LLP cut its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 33.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 680,307 shares of the construction company’s stock after selling 347,142 shares during the period. Wellington Management Group LLP owned about 0.73% of Tri Pointe Homes worth $30,825,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TPH. Raymond James & Associates grew its position in Tri Pointe Homes by 19.2% during the 3rd quarter. Raymond James & Associates now owns 208,566 shares of the construction company’s stock worth $9,450,000 after purchasing an additional 33,629 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Tri Pointe Homes by 10,048.1% during the 2nd quarter. Federated Hermes Inc. now owns 35,011 shares of the construction company’s stock worth $1,304,000 after purchasing an additional 34,666 shares in the last quarter. Millennium Management LLC lifted its position 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 valued at $34,475,000 after acquiring an additional 114,244 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Tri Pointe Homes by 260.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock worth $64,216,000 after buying an additional 1,024,425 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in Tri Pointe Homes by 404.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 43,849 shares of the construction company’s stock valued at $1,987,000 after acquiring an additional 35,162 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Stock Down 1.0 %

TPH stock opened at $40.08 on Friday. The business’s 50-day simple moving average is $42.68 and its 200 day simple moving average is $41.84. The company has a market cap of $3.75 billion, a PE ratio of 8.32, a price-to-earnings-growth ratio of 0.68 and a beta of 1.60. Tri Pointe Homes, Inc. has a twelve month low of $30.27 and a twelve month high of $47.78. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28.

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 analysts’ consensus estimates of $1.07 by $0.11. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. The business’s revenue was up 34.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.76 earnings per share. On average, research analysts anticipate that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Wedbush reissued a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Zelman & Associates raised shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective for the company in a report on Tuesday, September 17th. Finally, Oppenheimer lowered their target price on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Two 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 stock. Based on data from MarketBeat, the company 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.