Nuveen LLC Invests $43.91 Million in Tri Pointe Homes Inc. $TPH

Key Points

• Nuveen LLC has made a significant investment in Tri Pointe Homes Inc., acquiring approximately $43.91 million worth of shares, which amounts to about 1.52% ownership of the company as of their latest filing.
• Tri Pointe Homes reported $0.77 earnings per share (EPS) for the most recent quarter, exceeding analyst expectations, despite a 22.3% decline in revenue compared to the same period last year.
• The company has announced a $50 million share buyback plan, suggesting management's belief that the stock is currently undervalued.

Nuveen LLC acquired a new position in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 1,375,496 shares of the construction company's stock, valued at approximately $43,906,000. Nuveen LLC owned 1.52% of Tri Pointe Homes as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of TPH. Sumitomo Mitsui Trust Group Inc. lifted its stake in shares of Tri Pointe Homes by 9.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,272 shares of the construction company's stock valued at $296,000 after purchasing an additional 800 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Tri Pointe Homes by 57.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,880 shares of the construction company's stock valued at $252,000 after purchasing an additional 2,875 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Tri Pointe Homes by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 500,398 shares of the construction company's stock valued at $15,973,000 after purchasing an additional 14,298 shares during the period. SG Americas Securities LLC purchased a new position in shares of Tri Pointe Homes in the 1st quarter valued at approximately $300,000. Finally, Entropy Technologies LP purchased a new position in shares of Tri Pointe Homes in the 1st quarter valued at approximately $676,000. Hedge funds and other institutional investors own 97.01% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Wolfe Research cut Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Evercore ISI reduced their price objective on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating for the company in a research report on Friday, July 25th. 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 lowered Tri Pointe Homes from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Tri Pointe Homes currently has an average rating of "Moderate Buy" and a consensus target price of $40.80.

Tri Pointe Homes Stock Down 0.2%

Shares of Tri Pointe Homes stock traded down $0.0630 on Thursday, reaching $34.2370. The company's stock had a trading volume of 922,063 shares, compared to its average volume of 1,242,941. The company has a market capitalization of $3.10 billion, a price-to-earnings ratio of 8.71, a P/E/G ratio of 0.93 and a beta of 1.22. The firm's fifty day simple moving average is $32.76 and its two-hundred day simple moving average is $31.94. Tri Pointe Homes Inc. has a 52 week low of $27.90 and a 52 week high of $46.91. 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 posted its earnings results on Thursday, July 24th. The construction company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.11. The business had revenue of $884.01 million during 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 company's quarterly revenue was down 22.3% compared to the same quarter last year. During the same quarter last year, the company earned $1.25 EPS. Equities analysts anticipate that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.

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

About Tri Pointe Homes

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.