Tri Pointe Homes, Inc. (NYSE:TPH) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. reduced its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 5.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 220,773 shares of the construction company’s stock after selling 13,635 shares during the period. Phocas Financial Corp. owned approximately 0.24% of Tri Pointe Homes worth $10,003,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of TPH. Gradient Investments LLC acquired a new stake in Tri Pointe Homes in the second quarter valued at approximately $30,000. Reston Wealth Management LLC acquired a new position in shares of Tri Pointe Homes during the 3rd quarter valued at about $45,000. GAMMA Investing LLC grew its holdings in shares of Tri Pointe Homes by 63.1% in the second quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company’s stock valued at $57,000 after purchasing an additional 588 shares during the period. Blue Trust Inc. increased its position in Tri Pointe Homes by 31.7% during the second quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock worth $69,000 after purchasing an additional 427 shares during the last quarter. Finally, CWM LLC raised its stake in Tri Pointe Homes by 70.8% during the second quarter. CWM LLC now owns 2,220 shares of the construction company’s stock worth $83,000 after purchasing an additional 920 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

Tri Pointe Homes Price Performance

Shares of TPH opened at $41.56 on Tuesday. The company has a market cap of $3.89 billion, a P/E ratio of 8.62, a PEG ratio of 0.68 and a beta of 1.60. The firm’s 50 day moving average price is $43.33 and its 200 day moving average price is $41.46. Tri Pointe Homes, Inc. has a fifty-two week low of $28.74 and a fifty-two week 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 released its earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the firm earned $0.76 earnings per share. The business’s quarterly revenue was up 34.9% compared to the same quarter last year. On average, research analysts forecast that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wedbush restated a “neutral” rating and set a $42.00 price target on shares of Tri Pointe Homes in a report on Thursday, October 24th. Royal Bank of Canada decreased their price target on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective for the company in a research report on Tuesday, September 17th. Oppenheimer decreased their target price on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Finally, Evercore ISI upgraded shares of Tri Pointe Homes to a “strong-buy” rating in a research report on Friday, July 26th. 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 company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $45.75.

Insider Activity at Tri Pointe Homes

In related news, General Counsel David Ch Lee sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $44.28, for a total value of $221,400.00. Following the completion of the transaction, the general counsel now directly owns 85,792 shares of the company’s stock, valued at $3,798,869.76. This represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.50% of the stock is currently owned by corporate 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.