Jennison Associates LLC Boosts Stake in Tri Pointe Homes Inc. (NYSE:TPH)

Jennison Associates LLC raised 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 disclosure with the Securities & Exchange Commission. The institutional investor owned 61,965 shares of the construction company's stock after purchasing an additional 26,515 shares during the period. Jennison Associates LLC owned approximately 0.07% of Tri Pointe Homes worth $1,978,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Covestor Ltd increased its holdings in Tri Pointe Homes by 58.5% during 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 boosted its position in shares of 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 worth $75,000 after purchasing an additional 1,831 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Tri Pointe Homes in the 4th quarter worth approximately $118,000. CIBC Private Wealth Group LLC boosted its position in shares of 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 worth $126,000 after purchasing an additional 287 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in shares of 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 worth $130,000 after purchasing an additional 1,445 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on TPH. Wedbush reissued an "outperform" rating and issued a $43.00 price target on shares of Tri Pointe Homes in a research report on Friday. Evercore ISI dropped their price target on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $40.80.

Tri Pointe Homes Stock Down 0.5%

TPH stock traded down $0.15 during midday trading on Friday, hitting $31.59. The company's stock had a trading volume of 1,482,663 shares, compared to its average volume of 1,119,506. The company has a market cap of $2.86 billion, a PE ratio of 8.04, a P/E/G ratio of 0.83 and a beta of 1.25. Tri Pointe Homes Inc. has a 12 month low of $27.90 and a 12 month high of $47.78. The company has a current ratio of 1.79, a quick ratio of 1.97 and a debt-to-equity ratio of 0.28. The firm's 50-day moving average is $31.64 and its 200-day moving average is $32.40.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, beating 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 firm's quarterly revenue was down 22.3% on a year-over-year basis. During the same period in the prior year, the firm posted $1.25 EPS. On average, equities research analysts forecast that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has authorized a share repurchase plan 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 stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other Tri Pointe Homes news, CEO Douglas F. Bauer sold 120,287 shares of the business's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $30.15, for a total transaction of $3,626,653.05. Following the completion of the sale, the chief executive officer directly owned 627,833 shares in the company, valued at approximately $18,929,164.95. The trade was a 16.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company's stock.

Tri Pointe Homes 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.