Signet Financial Management LLC Sells 1,835 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Signet Financial Management LLC trimmed its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 1.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 131,086 shares of the construction company’s stock after selling 1,835 shares during the quarter. Signet Financial Management LLC’s holdings in Tri Pointe Homes were worth $4,753,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in TPH. Elevated Capital Advisors LLC purchased a new stake in shares of Tri Pointe Homes during the 4th quarter valued at approximately $233,000. Oliver Luxxe Assets LLC lifted its position in shares of Tri Pointe Homes by 6.7% during the fourth quarter. Oliver Luxxe Assets LLC now owns 41,695 shares of the construction company’s stock worth $1,512,000 after acquiring an additional 2,625 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of Tri Pointe Homes by 1.4% in the third quarter. Franklin Resources Inc. now owns 712,673 shares of the construction company’s stock worth $31,971,000 after acquiring an additional 9,542 shares during the period. Virtu Financial LLC purchased a new position in shares of Tri Pointe Homes in the third quarter valued at $343,000. Finally, Coldstream Capital Management Inc. grew its position in shares of Tri Pointe Homes by 15.8% in the third quarter. Coldstream Capital Management Inc. now owns 9,975 shares of the construction company’s stock valued at $452,000 after purchasing an additional 1,360 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TPH has been the subject of a number of recent analyst reports. Royal Bank of Canada reduced their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Oppenheimer decreased their price target 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. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Zelman & Associates upgraded 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, Wedbush reaffirmed a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $45.75.

Tri Pointe Homes Trading Up 2.7 %

Shares of NYSE:TPH traded up $0.91 during trading on Monday, reaching $35.19. 894,976 shares of the company traded hands, compared to its average volume of 697,085. 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, Inc. has a 52-week low of $33.24 and a 52-week high of $47.78. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 7.30, a P/E/G ratio of 0.64 and a beta of 1.64. The business’s fifty day moving average is $39.83 and its 200-day moving average is $41.72.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly 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 business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter in the prior year, the company posted $0.76 EPS. The firm’s revenue for the quarter was up 34.9% compared to the same quarter last year. As a group, analysts forecast that Tri Pointe Homes, Inc. will post 4.72 EPS for the current year.

Tri Pointe Homes declared that its board has initiated a share repurchase program on Wednesday, December 18th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Insider Activity at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the transaction, the chief operating officer now directly owns 708,159 shares of the company’s stock, valued at approximately $27,724,424.85. The trade was a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.

Tri Pointe Homes Company Profile

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.