Public Sector Pension Investment Board Increases Stock Holdings in Tri Pointe Homes Inc. (NYSE:TPH)

Key Points

• The Public Sector Pension Investment Board increased its stake in Tri Pointe Homes Inc. by 46.5%, owning a total of 341,444 shares worth approximately $10.9 million.
• Tri Pointe Homes reported a quarterly EPS of $0.77, surpassing analysts' expectations of $0.66, but noted a 22.3% decrease in revenue compared to the same quarter last year.
• The company has initiated a $50 million share repurchase plan, indicating that the board believes its shares are undervalued.

Public Sector Pension Investment Board increased its holdings in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 46.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 341,444 shares of the construction company's stock after buying an additional 108,306 shares during the quarter. Public Sector Pension Investment Board owned 0.38% of Tri Pointe Homes worth $10,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Wells Fargo & Company MN raised its holdings in Tri Pointe Homes by 24.9% in the 4th quarter. Wells Fargo & Company MN now owns 53,413 shares of the construction company's stock worth $1,937,000 after purchasing an additional 10,650 shares during the period. Bank of Montreal Can raised its holdings in Tri Pointe Homes by 9.6% in the 4th quarter. Bank of Montreal Can now owns 12,256 shares of the construction company's stock worth $444,000 after purchasing an additional 1,078 shares during the period. Invesco Ltd. raised its holdings in shares of Tri Pointe Homes by 12.4% during the fourth quarter. Invesco Ltd. now owns 1,068,073 shares of the construction company's stock valued at $38,728,000 after acquiring an additional 118,204 shares during the last quarter. Capital Fund Management S.A. raised its holdings in shares of Tri Pointe Homes by 13.3% during the fourth quarter. Capital Fund Management S.A. now owns 29,489 shares of the construction company's stock valued at $1,069,000 after acquiring an additional 3,471 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Tri Pointe Homes by 58.5% during the fourth quarter. Covestor Ltd now owns 908 shares of the construction company's stock valued at $33,000 after acquiring an additional 335 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

Tri Pointe Homes Price Performance

TPH stock opened at $35.66 on Thursday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.79. The business has a 50 day simple moving average of $32.30 and a 200-day simple moving average of $32.05. The firm has a market capitalization of $3.23 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 0.93 and a beta of 1.22. 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 posted its quarterly earnings results 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 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 business's revenue was down 22.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.25 earnings per share. Equities research analysts anticipate that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Wall Street Zen cut Tri Pointe Homes from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Wolfe Research cut Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a report on Sunday, July 27th. Evercore ISI reduced their target price 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. Finally, Wedbush reissued an "outperform" rating and set a $43.00 target price on shares of Tri Pointe Homes in a report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Tri Pointe Homes has an average rating of "Moderate Buy" and a consensus price target of $40.80.

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.

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