LSV Asset Management Buys 80,198 Shares of Tri Pointe Homes Inc. (NYSE:TPH)

Key Points

• LSV Asset Management increased its stake in Tri Pointe Homes by 4.8%, owning 1,762,922 shares valued at approximately $56.27 million.
• Tri Pointe Homes reported a quarterly earnings of $0.77 EPS, surpassing analysts' estimates and generating revenue of $884.01 million, despite a year-over-year decline.
• The company announced a $50 million share repurchase program, suggesting that its leadership believes the stock is currently undervalued.

LSV Asset Management raised its stake in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 4.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,762,922 shares of the construction company's stock after acquiring an additional 80,198 shares during the period. LSV Asset Management owned approximately 1.94% of Tri Pointe Homes worth $56,272,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Jefferies Financial Group Inc. purchased a new stake in shares of Tri Pointe Homes in the first quarter worth $322,000. US Bancorp DE boosted its position in shares of Tri Pointe Homes by 11.8% during the first quarter. US Bancorp DE now owns 40,740 shares of the construction company's stock valued at $1,300,000 after buying an additional 4,284 shares during the last quarter. Bayforest Capital Ltd boosted its position in shares of Tri Pointe Homes by 1,799.6% during the first quarter. Bayforest Capital Ltd now owns 30,660 shares of the construction company's stock valued at $979,000 after buying an additional 29,046 shares during the last quarter. Vestcor Inc boosted its position in shares of Tri Pointe Homes by 93.2% during the first quarter. Vestcor Inc now owns 14,098 shares of the construction company's stock valued at $450,000 after buying an additional 6,800 shares during the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of Tri Pointe Homes during the first quarter valued at $593,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Stock Performance

NYSE:TPH traded up $0.06 on Thursday, hitting $33.11. The stock had a trading volume of 66,904 shares, compared to its average volume of 1,039,188. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 8.41, a price-to-earnings-growth ratio of 0.91 and a beta of 1.22. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The business's 50-day simple moving average is $31.83 and its two-hundred day simple moving average is $32.17. Tri Pointe Homes Inc. has a 52-week low of $27.90 and a 52-week high of $46.91.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.11. The business had revenue of $884.01 million for the quarter, compared to analysts' expectations 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 for the quarter was down 22.3% on a year-over-year basis. During the same period last year, the firm posted $1.25 earnings per share. As a group, research analysts predict that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.

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

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Wall Street Zen cut Tri Pointe Homes from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Wedbush reaffirmed an "outperform" rating and set a $43.00 price objective on shares of Tri Pointe Homes in a research report on Friday, July 25th. Evercore ISI dropped their price objective on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. Finally, Wolfe Research cut Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday, July 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.