Jennison Associates LLC Purchases 26,515 Shares of Tri Pointe Homes Inc. (NYSE:TPH)

Jennison Associates LLC increased its position in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 74.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,965 shares of the construction company's stock after acquiring an additional 26,515 shares during the quarter. Jennison Associates LLC owned 0.07% of Tri Pointe Homes worth $1,978,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Covestor Ltd increased its stake in 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 buying an additional 335 shares during the period. Sterling Capital Management LLC increased its stake in shares of Tri Pointe Homes by 729.5% during the 4th quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company's stock worth $75,000 after purchasing an additional 1,831 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Tri Pointe Homes during the 4th quarter worth $118,000. CIBC Private Wealth Group LLC increased its stake in shares of Tri Pointe Homes by 8.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,563 shares of the construction company's stock worth $126,000 after purchasing an additional 287 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of Tri Pointe Homes by 67.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,578 shares of the construction company's stock worth $130,000 after purchasing an additional 1,445 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Tri Pointe Homes Stock Performance

Shares of NYSE TPH traded down $3.28 during trading hours on Thursday, hitting $31.92. 919,143 shares of the stock were exchanged, compared to its average volume of 1,012,127. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.97 and a quick ratio of 1.97. The company's 50 day moving average is $31.64 and its 200 day moving average is $32.45. The firm has a market capitalization of $2.89 billion, a P/E ratio of 7.11, a P/E/G ratio of 0.92 and a beta of 1.25. Tri Pointe Homes Inc. has a one year low of $27.90 and a one year high of $47.78.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $810.77 million. Tri Pointe Homes had a net margin of 10.02% and a return on equity of 12.97%. Tri Pointe Homes's quarterly revenue was down 22.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.25 EPS. On average, research analysts expect that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Insider Activity

In other Tri Pointe Homes news, CEO Douglas F. Bauer sold 120,287 shares of the stock in a transaction on Monday, April 28th. The shares were 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 of the company's stock, valued at $18,929,164.95. This represents a 16.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.70% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wedbush upgraded shares of Tri Pointe Homes from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $38.00 to $43.00 in a research note on Monday, April 28th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Tri Pointe Homes has a consensus rating of "Moderate Buy" and an average target price of $41.60.

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.