Bank of New York Mellon Corp Cuts Position in Tri Pointe Homes Inc. (NYSE:TPH)

Bank of New York Mellon Corp decreased its position in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 4.2% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 757,661 shares of the construction company's stock after selling 33,332 shares during the period. Bank of New York Mellon Corp owned about 0.83% of Tri Pointe Homes worth $24,185,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of TPH. Covestor Ltd lifted its position in shares of 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 in the last quarter. Sterling Capital Management LLC lifted its position in shares of Tri Pointe Homes by 729.5% in the fourth quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company's stock valued at $75,000 after acquiring an additional 1,831 shares in the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Tri Pointe Homes in the fourth quarter valued at $118,000. CIBC Private Wealth Group LLC lifted its position in shares of Tri Pointe Homes by 8.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,563 shares of the construction company's stock valued at $126,000 after acquiring an additional 287 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Tri Pointe Homes by 67.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,578 shares of the construction company's stock valued at $130,000 after acquiring an additional 1,445 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush upgraded Tri Pointe Homes from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $38.00 to $43.00 in a research report on Monday, April 28th. Three investment 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $41.60.

Tri Pointe Homes Trading Down 0.5%

NYSE TPH traded down $0.16 during trading hours on Monday, hitting $32.83. 1,127,384 shares of the company's stock were exchanged, compared to its average volume of 922,378. The business's 50 day moving average is $31.50 and its 200-day moving average is $32.44. Tri Pointe Homes Inc. has a 12-month low of $27.90 and a 12-month high of $47.78. The firm has a market capitalization of $2.98 billion, a P/E ratio of 7.30, a price-to-earnings-growth ratio of 0.86 and a beta of 1.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.97 and a current ratio of 1.97.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its earnings results on Thursday, April 24th. The construction company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.25. Tri Pointe Homes had a return on equity of 12.97% and a net margin of 10.02%. The firm had revenue of $720.79 million for the quarter, compared to the consensus estimate of $713.65 million. During the same period in the prior year, the business posted $1.03 earnings per share. The firm's revenue for the quarter was down 21.5% compared to the same quarter last year. As a group, analysts anticipate that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Douglas F. Bauer sold 120,287 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer directly owned 627,833 shares in the company, valued at $18,929,164.95. This trade represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.70% of the company's stock.

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.