Bank of America Corp DE Has $15.04 Million Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Bank of America Corp DE cut its stake in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 16.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 414,855 shares of the construction company's stock after selling 79,205 shares during the quarter. Bank of America Corp DE owned approximately 0.44% of Tri Pointe Homes worth $15,043,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TPH. Algert Global LLC grew its position in shares of Tri Pointe Homes by 25.2% during the 4th quarter. Algert Global LLC now owns 348,864 shares of the construction company's stock worth $12,650,000 after purchasing an additional 70,113 shares in the last quarter. Aristeia Capital L.L.C. grew its position in Tri Pointe Homes by 26.2% during the fourth quarter. Aristeia Capital L.L.C. now owns 17,260 shares of the construction company's stock worth $626,000 after buying an additional 3,584 shares in the last quarter. Gallagher Fiduciary Advisors LLC increased its stake in Tri Pointe Homes by 11.0% during the 4th quarter. Gallagher Fiduciary Advisors LLC now owns 10,022 shares of the construction company's stock worth $363,000 after acquiring an additional 994 shares during the period. Mercer Global Advisors Inc. ADV increased its stake in Tri Pointe Homes by 2.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 29,941 shares of the construction company's stock worth $1,086,000 after acquiring an additional 573 shares during the period. Finally, Freestone Grove Partners LP acquired a new position in Tri Pointe Homes in the 4th quarter valued at $401,000. Institutional investors and hedge funds own 97.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Evercore ISI reduced their target price on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Wedbush raised shares of Tri Pointe Homes from a "neutral" rating to an "outperform" rating and raised their target price for the company from $38.00 to $43.00 in a report on Monday, April 28th. Royal Bank of Canada downgraded shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Oppenheimer reduced 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 research report on Wednesday, February 19th. Finally, Seaport Res Ptn upgraded shares of Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Three equities 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 data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.60.

Tri Pointe Homes Trading Down 3.5%

Shares of Tri Pointe Homes stock opened at $30.21 on Thursday. The firm's 50 day moving average is $30.95 and its 200 day moving average is $35.14. The firm has a market capitalization of $2.74 billion, a PE ratio of 6.25, a price-to-earnings-growth ratio of 0.67 and a beta of 1.34. Tri Pointe Homes, Inc. has a 1 year low of $27.90 and a 1 year 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 quarterly earnings results on Thursday, April 24th. The construction company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.25. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The company had revenue of $720.79 million during the quarter, compared to the consensus estimate of $713.65 million. During the same period in the prior year, the business earned $1.03 earnings per share. The company's revenue for the quarter was down 21.5% compared to the same quarter last year. Equities research analysts forecast that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Douglas F. Bauer sold 120,287 shares of the firm's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $30.15, for a total transaction of $3,626,653.05. Following the completion of the transaction, the chief executive officer now owns 627,833 shares of the company's stock, valued at approximately $18,929,164.95. This trade represents a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.70% 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.

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