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

A number of other hedge funds have also recently bought and sold shares of the company. Bayforest Capital Ltd raised its stake 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 purchasing an additional 29,046 shares during the period. Great Lakes Advisors LLC raised its stake in shares of Tri Pointe Homes by 2,085.4% in the 1st quarter. Great Lakes Advisors LLC now owns 123,146 shares of the construction company's stock valued at $3,931,000 after acquiring an additional 117,511 shares during the period. Caxton Associates LLP purchased a new position in Tri Pointe Homes in the 1st quarter valued at about $1,318,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Tri Pointe Homes by 4.6% in the 1st 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 last quarter. Finally, Hancock Whitney Corp boosted its position in Tri Pointe Homes by 76.2% in the 1st quarter. Hancock Whitney Corp now owns 10,184 shares of the construction company's stock valued at $325,000 after buying an additional 4,405 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Tri Pointe Homes Stock Down 2.8%

Tri Pointe Homes stock traded down $0.99 on Friday, hitting $34.13. 4,183,289 shares of the stock traded hands, compared to its average volume of 829,997. The business's fifty day simple moving average is $34.22 and its 200 day simple moving average is $32.21. 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 firm has a market cap of $3.09 billion, a P/E ratio of 8.68, a price-to-earnings-growth ratio of 0.95 and a beta of 1.27. Tri Pointe Homes Inc. has a 1 year low of $27.90 and a 1 year high of $46.91.

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 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%.The firm's revenue was down 22.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 EPS. As a group, sell-side 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 plan on Thursday, July 24th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wolfe Research lowered shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Wedbush restated an "outperform" rating and issued a $43.00 price target on shares of Tri Pointe Homes in a research note on Friday, July 25th. Wall Street Zen upgraded Tri Pointe Homes from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Finally, Evercore ISI decreased their price objective on shares of 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. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Tri Pointe Homes currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.25.

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.