Public Sector Pension Investment Board Increases Stock Position in Tri Pointe Homes Inc. $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 grew its position in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 46.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 341,444 shares of the construction company's stock after acquiring an additional 108,306 shares during the quarter. Public Sector Pension Investment Board owned about 0.38% of Tri Pointe Homes worth $10,899,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TPH. Covestor Ltd boosted its stake 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 purchasing an additional 335 shares in the last quarter. Xponance Inc. boosted its position in Tri Pointe Homes by 5.0% during the 1st quarter. Xponance Inc. now owns 7,095 shares of the construction company's stock valued at $226,000 after acquiring an additional 336 shares in the last quarter. Federated Hermes Inc. boosted its position in Tri Pointe Homes by 0.8% during the 1st quarter. Federated Hermes Inc. now owns 55,975 shares of the construction company's stock valued at $1,787,000 after acquiring an additional 430 shares in the last quarter. Hancock Whitney Corp increased its holdings in shares of Tri Pointe Homes by 8.3% in the 4th quarter. Hancock Whitney Corp now owns 5,779 shares of the construction company's stock valued at $210,000 after acquiring an additional 442 shares during the period. Finally, Summit Investment Advisors Inc. raised its position in shares of Tri Pointe Homes by 5.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,645 shares of the construction company's stock worth $350,000 after acquiring an additional 488 shares in the last quarter. Institutional investors own 97.01% of the company's stock.

Tri Pointe Homes Stock Up 0.2%

Shares of TPH stock traded up $0.08 during trading hours on Monday, reaching $34.99. 163,661 shares of the company's stock were exchanged, compared to its average volume of 1,040,968. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.28. Tri Pointe Homes Inc. has a 1 year low of $27.90 and a 1 year high of $46.91. The stock has a market cap of $3.17 billion, a PE ratio of 8.90, a PEG ratio of 0.95 and a beta of 1.22. The stock's fifty day moving average price is $32.49 and its two-hundred day moving average price is $31.93.

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, topping analysts' consensus estimates of $0.66 by $0.11. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. The company had revenue of $884.01 million during the quarter, compared to analyst estimates of $810.77 million. During the same period last year, the firm posted $1.25 EPS. Tri Pointe Homes's revenue for the quarter was down 22.3% compared to the same quarter last year. Research analysts predict that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes declared that its Board of Directors has initiated a share repurchase program on Thursday, July 24th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

TPH has been the topic of a number of recent research reports. Wall Street Zen downgraded Tri Pointe Homes from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Evercore ISI decreased their price target on shares of 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 issued a $43.00 price objective on shares of Tri Pointe Homes in a research report on Friday, July 25th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average 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.