Great Lakes Advisors LLC Acquires 117,511 Shares of Tri Pointe Homes Inc. $TPH

Key Points

• Great Lakes Advisors LLC significantly increased its holdings in Tri Pointe Homes by acquiring an additional 117,511 shares, boosting its ownership by over 2,085% in the 1st quarter, now totaling 123,146 shares valued at approximately $3.93 million.
• Tri Pointe Homes has recently received mixed reviews from analysts, with ratings ranging from "Strong Buy" to "Hold" and a consensus target price of $40.80.
• The company's stock price is currently at $35.53, with a significant year-over-year revenue decline of 22.3%, despite exceeding EPS estimates in its latest earnings report.

Great Lakes Advisors LLC lifted its position in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 2,085.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 123,146 shares of the construction company's stock after buying an additional 117,511 shares during the quarter. Great Lakes Advisors LLC owned about 0.14% of Tri Pointe Homes worth $3,931,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC grew its stake in shares of Tri Pointe Homes by 56.5% in the 1st quarter. Smartleaf Asset Management LLC now owns 2,096 shares of the construction company's stock valued at $67,000 after buying an additional 757 shares in the last quarter. CWM LLC grew its stake 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 buying an additional 1,534 shares in the last quarter. Covestor Ltd grew its stake in shares of Tri Pointe Homes by 327.8% in the 1st quarter. Covestor Ltd now owns 3,884 shares of the construction company's stock valued at $124,000 after buying an additional 2,976 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in shares of Tri Pointe Homes in the 1st quarter valued at approximately $202,000. Finally, Elevated Capital Advisors LLC grew its stake in shares of Tri Pointe Homes by 9.3% in the 1st quarter. Elevated Capital Advisors LLC now owns 7,034 shares of the construction company's stock valued at $225,000 after buying an additional 599 shares in the last quarter. Institutional investors own 97.01% of the company's stock.

Tri Pointe Homes Price Performance

NYSE:TPH traded down $0.37 during trading hours on Monday, reaching $34.90. The company had a trading volume of 188,308 shares, compared to its average volume of 1,022,645. The stock has a 50-day moving average of $34.09 and a two-hundred day moving average of $32.10. Tri Pointe Homes Inc. has a one year low of $27.90 and a one year high of $46.91. The firm has a market capitalization of $3.16 billion, a PE ratio of 8.88, a PEG ratio of 0.95 and a beta of 1.27. 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 results on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. Tri Pointe Homes had a return on equity of 11.33% and a net margin of 9.22%.The firm had revenue of $884.01 million for the quarter, compared to analysts' expectations of $810.77 million. During the same period in the prior year, the business posted $1.25 earnings per share. The business's revenue was down 22.3% compared to the same quarter last year. Analysts forecast that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes announced that its Board of Directors has approved a stock repurchase program on Thursday, July 24th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to buy up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wall Street Zen raised Tri Pointe Homes from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. Evercore ISI lowered their price target on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating for the company in a research note on Friday, July 25th. Wolfe Research cut Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Finally, Wedbush reissued an "outperform" rating and issued a $43.00 price target on shares of Tri Pointe Homes in a research note on Friday, July 25th. 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's stock. According to data from MarketBeat, Tri Pointe Homes has an average rating of "Moderate Buy" and an average price target of $40.80.

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.