Allianz Asset Management GmbH Buys 444,153 Shares of Tri Pointe Homes Inc. (NYSE:TPH)

Allianz Asset Management GmbH raised its position in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 54.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,255,057 shares of the construction company's stock after purchasing an additional 444,153 shares during the period. Allianz Asset Management GmbH owned about 1.38% of Tri Pointe Homes worth $40,061,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in TPH. CIBC Private Wealth Group LLC lifted 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 worth $126,000 after purchasing an additional 287 shares during the period. Covestor Ltd boosted its holdings in Tri Pointe Homes by 58.5% in the fourth quarter. Covestor Ltd now owns 908 shares of the construction company's stock valued at $33,000 after acquiring an additional 335 shares during the last quarter. Xponance Inc. grew its position in Tri Pointe Homes by 5.0% during the first quarter. Xponance Inc. now owns 7,095 shares of the construction company's stock valued at $226,000 after acquiring an additional 336 shares during the period. Hancock Whitney Corp increased its stake in Tri Pointe Homes by 8.3% during the fourth quarter. Hancock Whitney Corp now owns 5,779 shares of the construction company's stock worth $210,000 after acquiring an additional 442 shares during the last quarter. Finally, Summit Investment Advisors Inc. raised its holdings in shares of Tri Pointe Homes by 5.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,645 shares of the construction company's stock worth $350,000 after purchasing an additional 488 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

Tri Pointe Homes Stock Performance

TPH traded down $0.15 during trading hours on Friday, hitting $31.59. The company's stock had a trading volume of 1,482,663 shares, compared to its average volume of 1,022,682. Tri Pointe Homes Inc. has a fifty-two week low of $27.90 and a fifty-two week high of $47.78. The firm has a market capitalization of $2.86 billion, a PE ratio of 7.02, a PEG ratio of 0.92 and a beta of 1.25. The company has a 50-day simple moving average of $31.65 and a 200 day simple moving average of $32.43. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.11. The company had revenue of $884.01 million for the quarter, compared to analysts' expectations of $810.77 million. Tri Pointe Homes had a return on equity of 12.97% and a net margin of 10.02%. The business's revenue for the quarter was down 22.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.25 EPS. As a group, sell-side analysts expect that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its Board of Directors has initiated a share buyback plan on Thursday, July 24th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, CEO Douglas F. Bauer sold 120,287 shares of Tri Pointe Homes stock in a transaction on Monday, April 28th. The stock was sold at an average price of $30.15, for a total value of $3,626,653.05. Following the completion of the transaction, the chief executive officer owned 627,833 shares in the company, valued at approximately $18,929,164.95. The trade was a 16.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.70% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on TPH shares. Evercore ISI decreased their target price on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Friday. Wedbush reiterated an "outperform" rating and set a $43.00 price objective on shares of Tri Pointe Homes in a research note on Friday. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Tri Pointe Homes presently has a consensus rating of "Moderate Buy" and a consensus price target of $40.80.

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.