Tri Pointe Homes Inc. (NYSE:TPH) Shares Bought by Factorial Partners LLC

Key Points

• Factorial Partners LLC increased its stake in Tri Pointe Homes Inc. by 27.9% in the first quarter, acquiring an additional 19,000 shares, bringing its total ownership to 87,000 shares.
• Tri Pointe Homes reported earnings of $0.77 per share, outperforming estimates, but its revenue of $884.01 million marked a 22.3% decline year-over-year.
• The company has initiated a $50 million stock repurchase plan, suggesting confidence from the board that the stock is undervalued.

Factorial Partners LLC lifted its holdings in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 27.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,000 shares of the construction company's stock after acquiring an additional 19,000 shares during the quarter. Tri Pointe Homes accounts for 1.7% of Factorial Partners LLC's holdings, making the stock its 25th biggest position. Factorial Partners LLC owned approximately 0.10% of Tri Pointe Homes worth $2,777,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Covestor Ltd lifted its stake in shares of Tri Pointe Homes by 58.5% in the 4th quarter. Covestor Ltd now owns 908 shares of the construction company's stock valued at $33,000 after purchasing an additional 335 shares during the period. Sterling Capital Management LLC grew its stake in Tri Pointe Homes by 729.5% in the 4th quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company's stock valued at $75,000 after acquiring an additional 1,831 shares during the period. CWM LLC grew its stake in Tri Pointe Homes by 67.8% in the 1st quarter. CWM LLC now owns 3,797 shares of the construction company's stock valued at $121,000 after acquiring an additional 1,534 shares during the period. CIBC Private Wealth Group LLC grew its stake in Tri Pointe Homes by 8.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,563 shares of the construction company's stock valued at $126,000 after acquiring an additional 287 shares during the period. Finally, Tower Research Capital LLC TRC grew its stake in Tri Pointe Homes by 67.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 3,578 shares of the construction company's stock valued at $130,000 after acquiring an additional 1,445 shares during the period. Institutional investors and hedge funds own 97.01% of the company's stock.

Wall Street Analysts Forecast Growth

TPH has been the topic of a number of research analyst reports. Wedbush reissued an "outperform" rating and issued a $43.00 price target on shares of Tri Pointe Homes in a research note on Friday, July 25th. Wolfe Research cut shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Wall Street Zen cut shares of Tri Pointe Homes from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Finally, Evercore ISI dropped their price target on shares of Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $40.80.

Tri Pointe Homes Price Performance

NYSE TPH traded up $0.22 during mid-day trading on Friday, hitting $33.01. The stock had a trading volume of 985,905 shares, compared to its average volume of 1,323,064. The firm's 50 day moving average is $32.04 and its 200 day moving average is $32.12. Tri Pointe Homes Inc. has a twelve month low of $27.90 and a twelve month high of $46.91. 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 stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 0.89 and a beta of 1.22.

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 forecast that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

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

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.