Tri Pointe Homes Inc. (NYSE:TPH) Shares Purchased by Royce & Associates LP

Royce & Associates LP boosted its holdings in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 7.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 577,303 shares of the construction company's stock after buying an additional 38,223 shares during the period. Royce & Associates LP owned approximately 0.64% of Tri Pointe Homes worth $18,428,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of TPH. Vanguard Group Inc. boosted its holdings in Tri Pointe Homes by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 11,573,813 shares of the construction company's stock valued at $419,666,000 after purchasing an additional 143,365 shares in the last quarter. Geode Capital Management LLC raised its stake in Tri Pointe Homes by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 2,529,823 shares of the construction company's stock worth $91,748,000 after buying an additional 44,160 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Tri Pointe Homes by 3.0% in the fourth quarter. Nuveen Asset Management LLC now owns 1,736,288 shares of the construction company's stock valued at $62,958,000 after purchasing an additional 49,916 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Tri Pointe Homes during the 4th quarter worth about $60,261,000. Finally, Northern Trust Corp increased its stake in shares of Tri Pointe Homes by 13.8% during the 4th quarter. Northern Trust Corp now owns 1,286,390 shares of the construction company's stock worth $46,645,000 after purchasing an additional 155,694 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Evercore ISI dropped 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. Wedbush restated an "outperform" rating and issued a $43.00 target price on shares of Tri Pointe Homes in a report on Friday. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued 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 price target of $40.80.

Insiders Place Their Bets

In other news, CEO Douglas F. Bauer sold 120,287 shares of the company's 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 sale, the chief executive officer directly owned 627,833 shares in the company, valued at $18,929,164.95. This represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.70% of the company's stock.

Tri Pointe Homes Trading Down 0.5%

Shares of NYSE:TPH traded down $0.15 on Friday, reaching $31.59. 1,482,663 shares of the company traded hands, compared to its average volume of 1,119,506. The business's 50-day simple moving average is $31.64 and its 200 day simple moving average is $32.40. Tri Pointe Homes Inc. has a 52 week low of $27.90 and a 52 week high of $47.78. The stock has a market capitalization of $2.86 billion, a P/E ratio of 8.04, a price-to-earnings-growth ratio of 0.83 and a beta of 1.25. The company has a current ratio of 1.79, a quick ratio of 1.97 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $810.77 million. During the same quarter in the previous year, the business posted $1.25 EPS. Tri Pointe Homes's revenue was down 22.3% compared to the same quarter last year. As a group, equities analysts anticipate that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has initiated a share repurchase plan on Thursday, July 24th that authorizes the company to repurchase $50.00 million in outstanding 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 generally an indication that the company's board believes its stock is undervalued.

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.