Boston Partners Raises Stake in Tri Pointe Homes Inc. $TPH

Key Points

• Boston Partners increased its holdings in Tri Pointe Homes Inc. by 108.8% in Q1, acquiring an additional 266,685 shares and raising its total to 511,741 shares worth approximately $16.33 million.
• Tri Pointe Homes reported a quarterly earnings per share of $0.77, exceeding analysts' expectations, although revenue decreased by 22.3% year-over-year.
• The company's Board of Directors authorized a stock buyback program of $50 million, indicating confidence that the stock may be undervalued.

Boston Partners grew its holdings in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 108.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 511,741 shares of the construction company's stock after buying an additional 266,685 shares during the period. Boston Partners owned 0.56% of Tri Pointe Homes worth $16,333,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TPH. Castlekeep Investment Advisors LLC acquired a new stake in Tri Pointe Homes during the fourth quarter worth about $60,261,000. Nuveen LLC acquired a new stake in Tri Pointe Homes during the first quarter worth about $43,906,000. Allianz Asset Management GmbH increased its position in Tri Pointe Homes by 54.8% during the first quarter. Allianz Asset Management GmbH now owns 1,255,057 shares of the construction company's stock worth $40,061,000 after purchasing an additional 444,153 shares during the last quarter. Assenagon Asset Management S.A. increased its position in Tri Pointe Homes by 23.3% during the first quarter. Assenagon Asset Management S.A. now owns 1,114,358 shares of the construction company's stock worth $35,570,000 after purchasing an additional 210,810 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Tri Pointe Homes during the fourth quarter worth about $6,380,000. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Tri Pointe Homes Stock Down 0.9%

Shares of NYSE TPH traded down $0.3230 during midday trading on Thursday, hitting $33.9770. The company's stock had a trading volume of 218,343 shares, compared to its average volume of 1,037,108. The business's fifty day simple moving average is $32.70 and its two-hundred day simple moving average is $31.96. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.79. Tri Pointe Homes Inc. has a 1 year low of $27.90 and a 1 year high of $46.91. The firm has a market capitalization of $3.08 billion, a price-to-earnings ratio of 8.65, a price-to-earnings-growth ratio of 0.95 and a beta of 1.22.

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

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

Analyst Upgrades and Downgrades

TPH has been the subject of several recent analyst reports. Evercore ISI cut their price objective on shares of Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. Wedbush reiterated an "outperform" rating and set a $43.00 price target on shares of Tri Pointe Homes in a research report on Friday, July 25th. Wolfe Research cut shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday, July 27th. Finally, Wall Street Zen cut shares of Tri Pointe Homes from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $40.80.

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.