Alliancebernstein L.P. Has $6.77 Million Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Alliancebernstein L.P. reduced its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 186,824 shares of the construction company's stock after selling 37,410 shares during the quarter. Alliancebernstein L.P. owned approximately 0.20% of Tri Pointe Homes worth $6,774,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TPH. CIBC Private Wealth Group LLC boosted its stake in shares of Tri Pointe Homes by 8.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,563 shares of the construction company's stock valued at $126,000 after buying an additional 287 shares during the period. Assetmark Inc. boosted its position in Tri Pointe Homes by 19.6% during the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company's stock valued at $66,000 after purchasing an additional 300 shares during the last quarter. Hillsdale Investment Management Inc. grew its stake in Tri Pointe Homes by 0.3% in the fourth quarter. Hillsdale Investment Management Inc. now owns 99,800 shares of the construction company's stock valued at $3,619,000 after purchasing an additional 340 shares in the last quarter. Highland Capital Management LLC increased its position in Tri Pointe Homes by 6.7% in the 4th quarter. Highland Capital Management LLC now owns 5,852 shares of the construction company's stock worth $212,000 after purchasing an additional 368 shares during the last quarter. Finally, Park Avenue Securities LLC increased its position in Tri Pointe Homes by 7.4% in the 4th quarter. Park Avenue Securities LLC now owns 6,412 shares of the construction company's stock worth $232,000 after purchasing an additional 444 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Evercore ISI lowered 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. 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. 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 report on Wednesday, February 19th. Royal Bank of Canada cut shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Finally, Wedbush restated a "neutral" rating and set a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tri Pointe Homes currently has a consensus rating of "Moderate Buy" and an average target price of $40.60.

Tri Pointe Homes Stock Performance

Tri Pointe Homes stock traded up $0.49 on Thursday, reaching $29.55. 415,136 shares of the stock were exchanged, compared to its average volume of 870,699. The stock has a market cap of $2.71 billion, a PE ratio of 6.12, a PEG ratio of 0.67 and a beta of 1.44. The firm has a fifty day moving average price of $31.83 and a two-hundred day moving average price of $37.29. Tri Pointe Homes, Inc. has a twelve month low of $27.90 and a twelve month high of $47.78. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share 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 return on equity of 14.34% and a net margin of 10.36%. Sell-side analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes declared that its board has approved a stock buyback plan on Wednesday, December 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board of directors believes its shares are undervalued.

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.