Burney Co. Sells 22,700 Shares of Tri Pointe Homes Inc. (NYSE:TPH)

Burney Co. trimmed its holdings in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 35.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 41,517 shares of the construction company's stock after selling 22,700 shares during the quarter. Burney Co.'s holdings in Tri Pointe Homes were worth $1,325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPH. Covestor Ltd raised its stake in Tri Pointe Homes by 58.5% during the 4th quarter. Covestor Ltd now owns 908 shares of the construction company's stock worth $33,000 after buying an additional 335 shares during the period. Sterling Capital Management LLC raised its stake 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 worth $75,000 after purchasing an additional 1,831 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Tri Pointe Homes in the fourth quarter worth approximately $118,000. CWM LLC raised its stake in shares of Tri Pointe Homes by 67.8% in the first quarter. CWM LLC now owns 3,797 shares of the construction company's stock worth $121,000 after purchasing an additional 1,534 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised 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 worth $126,000 after purchasing an additional 287 shares during the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Tri Pointe Homes news, CEO Douglas F. Bauer sold 120,287 shares of the stock in a transaction on Monday, April 28th. The stock was 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 directly owned 627,833 shares of the company's stock, valued at approximately $18,929,164.95. This represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TPH. Wedbush reissued an "outperform" rating and issued a $43.00 price objective on shares of Tri Pointe Homes in a research note on Friday. Evercore ISI lowered their price objective on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $40.80.

Tri Pointe Homes Stock Performance

Shares of TPH stock traded down $0.15 during trading on Friday, hitting $31.59. The company's stock had a trading volume of 1,482,663 shares, compared to its average volume of 1,119,506. The company has a market cap of $2.86 billion, a PE ratio of 8.04, a P/E/G ratio of 0.83 and a beta of 1.25. The company has a current ratio of 1.79, a quick ratio of 1.97 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $31.64 and a 200-day moving average of $32.40. Tri Pointe Homes Inc. has a 52 week low of $27.90 and a 52 week high of $47.78.

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

Tri Pointe Homes declared that its Board of Directors has authorized a stock repurchase plan on Thursday, July 24th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the construction company to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management 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.