Moran Wealth Management LLC Takes Position in Tri Pointe Homes Inc. $TPH

Key Points

• Moran Wealth Management LLC has acquired a new stake in Tri Pointe Homes Inc., purchasing 67,089 shares valued at approximately $2.14 million, which represents 0.07% ownership in the company.
• Tri Pointe Homes recently announced a $50 million share buyback plan, indicating that the company's leadership may believe its stock is currently undervalued.
• The company reported earnings of $0.77 per share for the last quarter, surpassing analysts' expectations of $0.66, although revenue declined by 22.3% year-over-year.

Moran Wealth Management LLC acquired a new stake in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 67,089 shares of the construction company's stock, valued at approximately $2,143,000. Moran Wealth Management LLC owned 0.07% of Tri Pointe Homes as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Xponance Inc. grew its position in Tri Pointe Homes by 5.0% during the first quarter. Xponance Inc. now owns 7,095 shares of the construction company's stock valued at $226,000 after purchasing an additional 336 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Tri Pointe Homes by 19.6% during the 2nd quarter. GAMMA Investing LLC now owns 2,377 shares of the construction company's stock valued at $76,000 after buying an additional 389 shares during the period. Blue Trust Inc. grew its holdings in shares of Tri Pointe Homes by 16.6% during the 2nd quarter. Blue Trust Inc. now owns 2,982 shares of the construction company's stock valued at $95,000 after acquiring an additional 424 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Tri Pointe Homes by 0.8% in the first quarter. Federated Hermes Inc. now owns 55,975 shares of the construction company's stock worth $1,787,000 after acquiring an additional 430 shares during the last quarter. Finally, QRG Capital Management Inc. raised its holdings in shares of Tri Pointe Homes by 1.7% during the second quarter. QRG Capital Management Inc. now owns 32,326 shares of the construction company's stock worth $1,033,000 after acquiring an additional 545 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Tri Pointe Homes Price Performance

NYSE TPH opened at $32.18 on Thursday. Tri Pointe Homes Inc. has a 1 year low of $27.90 and a 1 year high of $46.91. The company has a fifty day simple moving average of $34.34 and a 200 day simple moving average of $32.34. 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 $2.92 billion, a P/E ratio of 8.19, a P/E/G ratio of 0.87 and a beta of 1.30.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.11. The firm had revenue of $884.01 million during the quarter, compared to analyst estimates 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 revenue was down 22.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 EPS. On average, sell-side analysts predict that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its board has initiated a share buyback 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 reacquire up to 1.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Wall Street Zen raised Tri Pointe Homes from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Wolfe Research cut Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Tri Pointe Homes in a research report on Wednesday, October 8th. Wedbush reissued an "outperform" rating and issued a $43.00 target price on shares of Tri Pointe Homes in a research report on Friday, July 25th. Finally, Evercore ISI restated an "in-line" rating and set a $34.00 price target (down previously from $38.00) on shares of Tri Pointe Homes in a report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $39.25.

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.

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