Horizon Kinetics Asset Management LLC Has $4.50 Million Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Horizon Kinetics Asset Management LLC decreased its holdings in Tri Pointe Homes, Inc. (NYSE:TPH) by 11.4% during the 4th quarter, HoldingsChannel.com reports. The firm owned 124,012 shares of the construction company’s stock after selling 16,000 shares during the period. Horizon Kinetics Asset Management LLC’s holdings in Tri Pointe Homes were worth $4,497,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Counterpoint Mutual Funds LLC grew its stake in shares of Tri Pointe Homes by 73.7% in the fourth quarter. Counterpoint Mutual Funds LLC now owns 10,139 shares of the construction company’s stock worth $368,000 after purchasing an additional 4,303 shares during the last quarter. Cibc World Markets Corp bought a new stake in shares of Tri Pointe Homes in the fourth quarter worth $313,000. Royce & Associates LP grew its stake in shares of Tri Pointe Homes by 12.0% in the fourth quarter. Royce & Associates LP now owns 539,080 shares of the construction company’s stock worth $19,547,000 after purchasing an additional 57,559 shares during the last quarter. Vestcor Inc bought a new stake in shares of Tri Pointe Homes in the fourth quarter worth $265,000. Finally, HighTower Advisors LLC bought a new stake in shares of Tri Pointe Homes in the fourth quarter worth $5,553,000. Institutional investors own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TPH shares. StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Seaport Res Ptn raised shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Evercore ISI cut their price target on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Wedbush reaffirmed a “neutral” rating and set a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Finally, Oppenheimer cut their price target on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Four research 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Tri Pointe Homes Price Performance

TPH stock opened at $31.52 on Monday. The stock has a market capitalization of $2.89 billion, a PE ratio of 6.53, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. The company’s 50-day moving average is $34.65 and its 200-day moving average is $39.43. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64. Tri Pointe Homes, Inc. has a 1 year low of $30.25 and a 1 year high of $47.78.

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 analysts’ consensus estimates of $1.30 by $0.07. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. Equities research analysts expect that Tri Pointe Homes, Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes declared that its board has initiated a share buyback program on Wednesday, December 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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.