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 holdings in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 2,085.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. American Century Companies Inc. lifted its stake in shares of Tri Pointe Homes by 13.5% during the 1st quarter. American Century Companies Inc. now owns 2,209,166 shares of the construction company's stock valued at $70,517,000 after buying an additional 262,695 shares in the last quarter. LSV Asset Management lifted its stake in shares of Tri Pointe Homes by 4.8% during the 1st quarter. LSV Asset Management now owns 1,762,922 shares of the construction company's stock valued at $56,272,000 after buying an additional 80,198 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in shares of Tri Pointe Homes by 3.0% during the 4th quarter. Nuveen Asset Management LLC now owns 1,736,288 shares of the construction company's stock valued at $62,958,000 after buying an additional 49,916 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Tri Pointe Homes during the 1st quarter valued at approximately $43,906,000. Finally, Allianz Asset Management GmbH lifted its stake in shares of Tri Pointe Homes by 54.8% during the 1st quarter. Allianz Asset Management GmbH now owns 1,255,057 shares of the construction company's stock valued at $40,061,000 after buying an additional 444,153 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Tri Pointe Homes Price Performance

Shares of Tri Pointe Homes stock traded down $1.04 on Friday, hitting $35.32. 608,159 shares of the company traded hands, compared to its average volume of 841,914. The firm's 50-day simple moving average is $34.09 and its 200 day simple moving average is $32.10. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.28. The company has a market cap of $3.20 billion, a P/E ratio of 8.99, a P/E/G ratio of 0.99 and a beta of 1.27. Tri Pointe Homes Inc. has a 12-month low of $27.90 and a 12-month high of $46.91.

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

Tri Pointe Homes declared that its board has approved a stock buyback plan on Thursday, July 24th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 1.6% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Evercore ISI decreased their target price on shares of Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Wedbush reaffirmed an "outperform" rating and set a $43.00 target price on shares of Tri Pointe Homes in a report on Friday, July 25th. Wall Street Zen raised shares of Tri Pointe Homes from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Finally, Wolfe Research lowered shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a report on Sunday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Tri Pointe Homes currently has a consensus 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.