Bank of New York Mellon Corp Sells 33,332 Shares of Tri Pointe Homes Inc. (NYSE:TPH)

Bank of New York Mellon Corp lessened its holdings in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 4.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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 approximately 0.83% of Tri Pointe Homes worth $24,185,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Covestor Ltd raised its holdings in shares of Tri Pointe Homes by 58.5% during the fourth quarter. Covestor Ltd now owns 908 shares of the construction company's stock worth $33,000 after acquiring an additional 335 shares during the period. Sterling Capital Management LLC increased its position in Tri Pointe Homes by 729.5% in the 4th 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 during the period. New Age Alpha Advisors LLC bought a new stake in shares of Tri Pointe Homes in the 4th quarter valued at $118,000. CIBC Private Wealth Group LLC lifted its stake 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 buying an additional 287 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in Tri Pointe Homes by 67.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,578 shares of the construction company's stock worth $130,000 after buying an additional 1,445 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush upgraded shares of Tri Pointe Homes from a "neutral" rating to an "outperform" rating and upped their price target for the company from $38.00 to $43.00 in a report on Monday, April 28th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tri Pointe Homes presently has a consensus rating of "Moderate Buy" and an average target price of $41.60.

Insider Buying and Selling

In other news, CEO Douglas F. Bauer sold 120,287 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 627,833 shares of the company's stock, valued at $18,929,164.95. This represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.70% of the stock is currently owned by corporate insiders.

Tri Pointe Homes Stock Up 0.6%

Shares of Tri Pointe Homes stock opened at $33.27 on Friday. The business's 50 day simple moving average is $31.46 and its 200-day simple moving average is $32.51. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of 7.39, a PEG ratio of 0.86 and a beta of 1.25. Tri Pointe Homes Inc. has a twelve month low of $27.90 and a twelve month high of $47.78.

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

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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