Intech Investment Management LLC Has $1.79 Million Stake in Tri Pointe Homes Inc. $TPH

Key Points

• Intech Investment Management LLC has increased its stake in Tri Pointe Homes Inc. by 33.5%, bringing its total holdings to approximately $1.79 million.
• Tri Pointe Homes reported earnings of $0.77 EPS, exceeding analyst expectations of $0.66, although revenue fell by 22.3% year-over-year.
• The company initiated a stock repurchase plan allowing for the repurchase of up to $50 million in outstanding shares, signaling that leadership may view the stock as undervalued.

Intech Investment Management LLC increased its position in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 33.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,013 shares of the construction company's stock after purchasing an additional 14,069 shares during the period. Intech Investment Management LLC owned approximately 0.06% of Tri Pointe Homes worth $1,788,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TPH. Bayforest Capital Ltd increased its position in Tri Pointe Homes by 1,799.6% during the first quarter. Bayforest Capital Ltd now owns 30,660 shares of the construction company's stock worth $979,000 after acquiring an additional 29,046 shares during the period. Great Lakes Advisors LLC increased its holdings in shares of Tri Pointe Homes by 2,085.4% during the first quarter. Great Lakes Advisors LLC now owns 123,146 shares of the construction company's stock worth $3,931,000 after purchasing an additional 117,511 shares during the period. Caxton Associates LLP acquired a new stake in shares of Tri Pointe Homes in the first quarter valued at approximately $1,318,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Tri Pointe Homes by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,879 shares of the construction company's stock valued at $1,752,000 after buying an additional 2,398 shares during the period. Finally, Hancock Whitney Corp grew its position in Tri Pointe Homes by 76.2% during the first quarter. Hancock Whitney Corp now owns 10,184 shares of the construction company's stock worth $325,000 after buying an additional 4,405 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Tri Pointe Homes Price Performance

TPH stock opened at $34.90 on Wednesday. The company has a market capitalization of $3.16 billion, a P/E ratio of 8.88, a PEG ratio of 0.95 and a beta of 1.27. Tri Pointe Homes Inc. has a 52-week low of $27.90 and a 52-week high of $46.91. The company has a fifty day moving average price of $34.19 and a 200-day moving average price of $32.15. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.79 and a current ratio of 1.79.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The construction company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. The firm had revenue of $884.01 million for 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%.The business's revenue was down 22.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.25 EPS. As a group, equities analysts expect that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes declared that its board has initiated a stock repurchase plan on Thursday, July 24th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Evercore ISI dropped their price objective on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Wolfe Research cut Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday, July 27th. 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, Wall Street Zen upgraded shares of Tri Pointe Homes from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $40.25.

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.

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