Tri Pointe Homes, Inc. (NYSE:TPH) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its holdings in Tri Pointe Homes, Inc. (NYSE:TPH) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 719,901 shares of the construction company’s stock after selling 5,636 shares during the quarter. Fisher Asset Management LLC owned about 0.77% of Tri Pointe Homes worth $26,104,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TPH. Venturi Wealth Management LLC lifted its stake in Tri Pointe Homes by 562.1% in the fourth quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock valued at $81,000 after buying an additional 1,900 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in Tri Pointe Homes by 51.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock valued at $84,000 after buying an additional 789 shares during the last quarter. Blue Trust Inc. lifted its stake in Tri Pointe Homes by 72.8% in the fourth quarter. Blue Trust Inc. now owns 4,093 shares of the construction company’s stock valued at $148,000 after buying an additional 1,725 shares during the last quarter. KBC Group NV lifted its stake in Tri Pointe Homes by 65.9% in the fourth quarter. KBC Group NV now owns 4,254 shares of the construction company’s stock valued at $154,000 after buying an additional 1,690 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Tri Pointe Homes in the third quarter valued at approximately $184,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TPH shares. Wedbush reiterated a “neutral” rating and issued a $38.00 price objective (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Oppenheimer reduced their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Evercore ISI cut their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada cut Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $41.00 to $37.00 in a research note on Wednesday, February 19th. Finally, StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $40.60.

Tri Pointe Homes Price Performance

Tri Pointe Homes stock opened at $30.97 on Tuesday. Tri Pointe Homes, Inc. has a 12 month low of $30.25 and a 12 month high of $47.78. 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 business has a 50 day simple moving average of $35.45 and a 200-day simple moving average of $40.17. The stock has a market capitalization of $2.85 billion, a PE ratio of 6.41, a price-to-earnings-growth ratio of 0.67 and a beta of 1.64.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.07. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. Equities analysts predict that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its board has initiated a stock buyback program on Wednesday, December 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to buy up to 7.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $39.15, for a total value of $3,029,583.60. Following the completion of the transaction, the chief operating officer now owns 708,159 shares in the company, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by company insiders.

Tri Pointe Homes 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.