QRG Capital Management Inc. Acquires 7,482 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

QRG Capital Management Inc. grew its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 28.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 33,442 shares of the construction company’s stock after purchasing an additional 7,482 shares during the quarter. QRG Capital Management Inc.’s holdings in Tri Pointe Homes were worth $1,213,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of TPH. Wealth Enhancement Advisory Services LLC bought a new position in Tri Pointe Homes during the third quarter valued at about $226,000. First Trust Direct Indexing L.P. increased its holdings in shares of Tri Pointe Homes by 9.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,266 shares of the construction company’s stock valued at $284,000 after acquiring an additional 541 shares during the last quarter. Innealta Capital LLC raised its stake in shares of Tri Pointe Homes by 24.9% in the 3rd quarter. Innealta Capital LLC now owns 4,905 shares of the construction company’s stock valued at $222,000 after acquiring an additional 978 shares in the last quarter. Atria Investments Inc lifted its holdings in Tri Pointe Homes by 30.0% in the 3rd quarter. Atria Investments Inc now owns 15,839 shares of the construction company’s stock worth $718,000 after purchasing an additional 3,653 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its position in Tri Pointe Homes by 132.8% during the third quarter. Los Angeles Capital Management LLC now owns 58,779 shares of the construction company’s stock worth $2,663,000 after purchasing an additional 33,528 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes 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 sale, the chief operating officer now owns 708,159 shares of the company’s stock, valued at approximately $27,724,424.85. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Tri Pointe Homes Price Performance

NYSE:TPH opened at $30.97 on Tuesday. 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 one year low of $30.25 and a one year high of $47.78. The company has a fifty day moving average price of $35.45 and a 200 day moving average price of $40.17. The stock has a market cap of $2.85 billion, a P/E ratio of 6.41, a PEG ratio of 0.67 and a beta of 1.64.

Tri Pointe Homes (NYSE:TPH) last posted 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. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, December 18th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to repurchase up to 7.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board 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.