American Century Companies Inc. Purchases 262,695 Shares of Tri Pointe Homes Inc. $TPH

Key Points

• American Century Companies Inc. increased its holdings in Tri Pointe Homes by 13.5% during the first quarter, owning 2.44% of the company worth approximately $70.5 million.
• Analysts have varying ratings for Tri Pointe Homes, with a consensus rating of "Moderate Buy" and an average price target of $40.80.
• Tri Pointe Homes announced a $50 million stock repurchase program, indicating company leadership's belief that the stock is undervalued.

American Century Companies Inc. grew its holdings in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 13.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 2,209,166 shares of the construction company's stock after purchasing an additional 262,695 shares during the period. American Century Companies Inc. owned approximately 2.44% of Tri Pointe Homes worth $70,517,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Tri Pointe Homes by 9.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,272 shares of the construction company's stock valued at $296,000 after purchasing an additional 800 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Tri Pointe Homes by 57.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,880 shares of the construction company's stock valued at $252,000 after purchasing an additional 2,875 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Tri Pointe Homes by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 500,398 shares of the construction company's stock valued at $15,973,000 after purchasing an additional 14,298 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Tri Pointe Homes in the 1st quarter valued at $300,000. Finally, Entropy Technologies LP bought a new position in shares of Tri Pointe Homes in the 1st quarter valued at $676,000. Institutional investors own 97.01% of the company's stock.

Analyst Ratings Changes

TPH has been the topic of a number of research reports. Wedbush restated an "outperform" rating and set a $43.00 price objective on shares of Tri Pointe Homes in a research report on Friday, July 25th. Wolfe Research lowered Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday, July 27th. Evercore ISI reduced their price objective on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Finally, Wall Street Zen lowered Tri Pointe Homes from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, Tri Pointe Homes has an average rating of "Moderate Buy" and an average price target of $40.80.

Tri Pointe Homes Trading Up 5.5%

TPH traded up $1.8850 during midday trading on Friday, hitting $36.1550. 1,536,842 shares of the company were exchanged, compared to its average volume of 1,200,628. The firm has a market capitalization of $3.28 billion, a P/E ratio of 9.20, a P/E/G ratio of 0.93 and a beta of 1.22. Tri Pointe Homes Inc. has a 1-year low of $27.90 and a 1-year high of $46.91. The firm's 50 day moving average price is $32.88 and its 200-day moving average price is $31.94. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. The company had revenue of $884.01 million for the quarter, compared to the consensus estimate of $810.77 million. Tri Pointe Homes had a return on equity of 11.33% and a net margin of 9.22%.The firm's revenue was down 22.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.25 EPS. As a group, equities analysts forecast that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has initiated a stock repurchase program on Thursday, July 24th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board 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.