Strs Ohio Invests $606,000 in Tri Pointe Homes Inc. $TPH

Key Points

• Strs Ohio purchased 19,000 shares of Tri Pointe Homes Inc. (NYSE: TPH) valued at approximately $606,000 during the first quarter.
• The company reported earnings of $0.77 per share for the latest quarter, exceeding the consensus estimate of $0.66, but revenue decreased by 22.3% year-over-year.
• Tri Pointe Homes has authorized a $50 million stock buyback program, indicating that its leadership believes the stock is undervalued.

Strs Ohio bought a new position in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,000 shares of the construction company's stock, valued at approximately $606,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in Tri Pointe Homes by 56.5% during the first quarter. Smartleaf Asset Management LLC now owns 2,096 shares of the construction company's stock worth $67,000 after purchasing an additional 757 shares during the last quarter. CWM LLC lifted its stake in Tri Pointe Homes by 67.8% during the first quarter. CWM LLC now owns 3,797 shares of the construction company's stock worth $121,000 after purchasing an additional 1,534 shares during the last quarter. Covestor Ltd lifted its stake in shares of Tri Pointe Homes by 327.8% in the 1st quarter. Covestor Ltd now owns 3,884 shares of the construction company's stock valued at $124,000 after acquiring an additional 2,976 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. bought a new position in shares of Tri Pointe Homes in the 1st quarter valued at $202,000. Finally, Elevated Capital Advisors LLC boosted its holdings in shares of Tri Pointe Homes by 9.3% during the 1st quarter. Elevated Capital Advisors LLC now owns 7,034 shares of the construction company's stock valued at $225,000 after acquiring an additional 599 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Tri Pointe Homes Stock Down 0.6%

TPH traded down $0.20 during midday trading on Tuesday, reaching $33.31. 236,802 shares of the company were exchanged, compared to its average volume of 1,038,005. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.79 and a current ratio of 1.79. The company's fifty day moving average price is $34.20 and its 200 day moving average price is $32.22. The company has a market cap of $3.02 billion, a price-to-earnings ratio of 8.48, a price-to-earnings-growth ratio of 0.92 and a beta of 1.27. Tri Pointe Homes Inc. has a one year low of $27.90 and a one year high of $46.91.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its quarterly earnings data 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 firm 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 revenue for the quarter was down 22.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.25 EPS. As a group, analysts expect that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its Board of Directors has approved a share repurchase program on Thursday, July 24th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

TPH has been the topic of several research reports. Wall Street Zen upgraded Tri Pointe Homes from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Wedbush restated an "outperform" rating and set a $43.00 price target on shares of Tri Pointe Homes in a report on Friday, July 25th. Wolfe Research cut Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a report on Sunday, July 27th. Finally, Evercore ISI reduced their price target on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, Tri Pointe Homes has an average rating of "Moderate Buy" and a consensus price target of $40.25.

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.