Connor Clark & Lunn Investment Management Ltd. Increases Stake in Tri Pointe Homes Inc. (NYSE:TPH)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 52.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 115,167 shares of the construction company's stock after buying an additional 39,531 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.13% of Tri Pointe Homes worth $3,676,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Factorial Partners LLC grew its position in shares of Tri Pointe Homes by 27.9% in the 1st quarter. Factorial Partners LLC now owns 87,000 shares of the construction company's stock worth $2,777,000 after buying an additional 19,000 shares during the last quarter. LSV Asset Management grew its position in shares of Tri Pointe Homes by 4.8% in the 1st quarter. LSV Asset Management now owns 1,762,922 shares of the construction company's stock worth $56,272,000 after buying an additional 80,198 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of Tri Pointe Homes in the 1st quarter worth approximately $322,000. US Bancorp DE grew its position in shares of Tri Pointe Homes by 11.8% in the 1st quarter. US Bancorp DE now owns 40,740 shares of the construction company's stock worth $1,300,000 after buying an additional 4,284 shares during the last quarter. Finally, Bayforest Capital Ltd grew its position in shares of Tri Pointe Homes by 1,799.6% in the 1st quarter. Bayforest Capital Ltd now owns 30,660 shares of the construction company's stock worth $979,000 after buying an additional 29,046 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TPH. Wedbush reiterated an "outperform" rating and issued a $43.00 price objective on shares of Tri Pointe Homes in a research report on Friday, July 25th. Evercore ISI dropped their price target on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Wolfe Research lowered Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday, July 27th. Finally, Wall Street Zen lowered Tri Pointe Homes from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $40.80.

Tri Pointe Homes Trading Up 4.5%

NYSE TPH opened at $35.66 on Thursday. The stock's 50 day moving average is $32.30 and its 200 day moving average is $32.05. The firm has a market capitalization of $3.23 billion, a PE ratio of 9.07, a P/E/G ratio of 0.93 and a beta of 1.22. Tri Pointe Homes Inc. has a twelve month low of $27.90 and a twelve month high of $46.91. 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 announced its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. The business had revenue of $884.01 million during the quarter, compared to analysts' expectations of $810.77 million. Tri Pointe Homes had a return on equity of 11.33% and a net margin of 9.22%. The firm's quarterly revenue was down 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.25 earnings per share. Research analysts forecast that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has initiated a share buyback plan on Thursday, July 24th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.