Tri Pointe Homes Inc. $TPH Shares Sold by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC reduced its holdings in Tri Pointe Homes by 5.2%, now owning approximately 388,811 shares valued at $12.41 million.
• Tri Pointe Homes reported earnings of $0.77 per share for the last quarter, surpassing analysts' expectations of $0.66, but revenue decreased by 22.3% year-over-year.
• The company's Board of Directors approved a $50 million share buyback program, reflecting confidence in the undervaluation of its stock.

Brandywine Global Investment Management LLC lessened its holdings in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 5.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 388,811 shares of the construction company's stock after selling 21,516 shares during the quarter. Brandywine Global Investment Management LLC owned 0.43% of Tri Pointe Homes worth $12,411,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Wells Fargo & Company MN raised its stake in shares of Tri Pointe Homes by 24.9% during the 4th quarter. Wells Fargo & Company MN now owns 53,413 shares of the construction company's stock valued at $1,937,000 after purchasing an additional 10,650 shares during the period. Bank of Montreal Can lifted its stake in Tri Pointe Homes by 9.6% during the fourth quarter. Bank of Montreal Can now owns 12,256 shares of the construction company's stock worth $444,000 after purchasing an additional 1,078 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Tri Pointe Homes by 729.5% in the fourth quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company's stock worth $75,000 after buying an additional 1,831 shares in the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Tri Pointe Homes by 5.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 9,645 shares of the construction company's stock valued at $350,000 after purchasing an additional 488 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Tri Pointe Homes by 955.1% in the fourth quarter. Canada Pension Plan Investment Board now owns 51,700 shares of the construction company's stock worth $1,875,000 after buying an additional 46,800 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Trading Down 2.2%

NYSE TPH traded down $0.7680 during trading on Wednesday, hitting $34.2520. The stock had a trading volume of 1,116,631 shares, compared to its average volume of 1,042,729. The stock has a 50 day simple moving average of $32.64 and a 200 day simple moving average of $31.94. Tri Pointe Homes Inc. has a one year low of $27.90 and a one year high of $46.91. 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 stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 8.72, a P/E/G ratio of 0.94 and a beta of 1.22.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. The company had revenue of $884.01 million during the quarter, compared to analyst estimates of $810.77 million. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. The firm's revenue for the quarter was down 22.3% on a year-over-year basis. During the same quarter last year, the business posted $1.25 EPS. Sell-side 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 of Directors has approved a share buyback program on Thursday, July 24th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TPH. Evercore ISI dropped their target price on shares of Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating for the company in a report on Friday, July 25th. Wall Street Zen cut shares of Tri Pointe Homes from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Wolfe Research downgraded Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a report on Sunday, July 27th. Finally, Wedbush reiterated an "outperform" rating and set a $43.00 target price on shares of Tri Pointe Homes in a research note on Friday, July 25th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.