Charles Schwab Investment Management Inc. Lowers Stock Holdings in Tri Pointe Homes Inc. $TPH

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Tri Pointe Homes by 1.4%, selling 16,632 shares, and now owns approximately 1.27% of the company, valued at $36.67 million.
• Tri Pointe Homes reported $0.77 earnings per share (EPS) for the last quarter, exceeding analysts' expectations, although revenue decreased by 22.3% year-over-year.
• The company has authorized a $50 million stock buyback plan, indicating confidence from the board in the valuation of its shares.

Charles Schwab Investment Management Inc. decreased its position in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,148,911 shares of the construction company's stock after selling 16,632 shares during the period. Charles Schwab Investment Management Inc. owned about 1.27% of Tri Pointe Homes worth $36,673,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC increased its holdings in shares of 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 last quarter. CWM LLC increased its holdings in shares of Tri Pointe Homes by 67.8% in the 1st quarter. CWM LLC now owns 3,797 shares of the construction company's stock valued at $121,000 after acquiring an additional 1,534 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Tri Pointe Homes by 67.7% in the 4th 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 during the last quarter. Hancock Whitney Corp increased its holdings in shares of Tri Pointe Homes by 8.3% in the 4th quarter. Hancock Whitney Corp now owns 5,779 shares of the construction company's stock valued at $210,000 after acquiring an additional 442 shares during the last quarter. Finally, Elevated Capital Advisors LLC grew its stake in Tri Pointe Homes by 9.3% during the 1st quarter. Elevated Capital Advisors LLC now owns 7,034 shares of the construction company's stock worth $225,000 after buying an additional 599 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TPH. Wall Street Zen downgraded Tri Pointe Homes from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Evercore ISI decreased their price objective on 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 reaffirmed an "outperform" rating and set a $43.00 price objective on shares of Tri Pointe Homes in a research report on Friday, July 25th. Finally, Wolfe Research cut Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday, July 27th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $40.80.

Tri Pointe Homes Price Performance

NYSE TPH traded up $1.7850 during mid-day trading on Friday, hitting $36.0550. The stock had a trading volume of 944,549 shares, compared to its average volume of 1,041,364. Tri Pointe Homes Inc. has a 52-week low of $27.90 and a 52-week high of $46.91. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 9.18, a P/E/G ratio of 0.93 and a beta of 1.22. The company has a 50 day simple moving average of $32.76 and a 200 day simple moving average of $31.94. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.11. The company had revenue of $884.01 million during the quarter, compared to the consensus estimate 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 revenue was down 22.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.25 earnings per share. Equities analysts forecast that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has approved a share buyback plan on Thursday, July 24th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership 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.