Richard Bernstein Advisors LLC Sells 12,720 Shares of Tri Pointe Homes Inc. (NYSE:TPH)

Richard Bernstein Advisors LLC trimmed its position in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 8.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 140,049 shares of the construction company's stock after selling 12,720 shares during the period. Richard Bernstein Advisors LLC owned approximately 0.15% of Tri Pointe Homes worth $4,470,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Tri Pointe Homes by 9.4% in the first 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 in the last quarter. SG Americas Securities LLC acquired a new position in shares of Tri Pointe Homes during the 1st quarter worth approximately $300,000. HighTower Advisors LLC bought a new stake in shares of Tri Pointe Homes during the 4th quarter worth approximately $5,553,000. Oppenheimer Asset Management Inc. boosted its holdings in shares of Tri Pointe Homes by 3.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 27,396 shares of the construction company's stock valued at $874,000 after buying an additional 801 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Tri Pointe Homes in the 1st quarter valued at approximately $1,024,000. 97.01% of the stock is currently owned by institutional investors.

Insider Activity at Tri Pointe Homes

In other news, CEO Douglas F. Bauer sold 120,287 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $30.15, for a total value of $3,626,653.05. Following the completion of the transaction, the chief executive officer directly owned 627,833 shares in the company, valued at approximately $18,929,164.95. This represents a 16.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.70% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wedbush upgraded Tri Pointe Homes from a "neutral" rating to an "outperform" rating and upped their price objective for the company from $38.00 to $43.00 in a research note on Monday, April 28th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $41.60.

Tri Pointe Homes Stock Performance

Shares of NYSE TPH traded down $0.51 during trading hours on Monday, reaching $32.47. 861,934 shares of the stock were exchanged, compared to its average volume of 921,405. The firm has a market capitalization of $2.94 billion, a price-to-earnings ratio of 7.22, a P/E/G ratio of 0.86 and a beta of 1.25. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.97 and a current ratio of 1.97. Tri Pointe Homes Inc. has a 52 week low of $27.90 and a 52 week high of $47.78. The stock's fifty day simple moving average is $31.01 and its 200 day simple moving average is $32.66.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The construction company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.25. The business had revenue of $720.79 million for the quarter, compared to the consensus estimate of $713.65 million. Tri Pointe Homes had a return on equity of 12.97% and a net margin of 10.02%. The firm's quarterly revenue was down 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 earnings per share. Sell-side analysts predict that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes Company 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.