Royce & Associates LP Raises Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Royce & Associates LP raised its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 12.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 539,080 shares of the construction company’s stock after acquiring an additional 57,559 shares during the quarter. Royce & Associates LP’s holdings in Tri Pointe Homes were worth $19,547,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC lifted its stake in Tri Pointe Homes by 3.2% in the third quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock worth $112,644,000 after acquiring an additional 76,830 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Tri Pointe Homes by 3.5% during the 4th quarter. Principal Financial Group Inc. now owns 486,100 shares of the construction company’s stock worth $17,626,000 after buying an additional 16,380 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Tri Pointe Homes by 404.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 43,849 shares of the construction company’s stock worth $1,987,000 after buying an additional 35,162 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of Tri Pointe Homes by 15.3% during the 4th quarter. New York State Teachers Retirement System now owns 67,505 shares of the construction company’s stock worth $2,448,000 after buying an additional 8,948 shares during the last quarter. Finally, GW&K Investment Management LLC lifted its position in shares of Tri Pointe Homes by 5.3% during the 4th quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company’s stock worth $73,850,000 after buying an additional 102,187 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Stock Up 1.2 %

TPH stock opened at $31.52 on Monday. The company has a fifty day moving average price of $34.65 and a 200 day moving average price of $39.43. Tri Pointe Homes, Inc. has a 12 month low of $30.25 and a 12 month high of $47.78. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 6.53, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. 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 (NYSE:TPH) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.30 by $0.07. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. Sell-side analysts expect that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 18th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

TPH has been the subject of several recent analyst reports. Oppenheimer reduced their price objective on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Royal Bank of Canada downgraded shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. Evercore ISI reduced their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Finally, Wedbush reiterated a “neutral” rating and issued a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $40.60.

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.