Mackenzie Financial Corp Raises Stock Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Mackenzie Financial Corp grew its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 129.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,968 shares of the construction company's stock after purchasing an additional 29,281 shares during the period. Mackenzie Financial Corp owned approximately 0.06% of Tri Pointe Homes worth $1,884,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Castlekeep Investment Advisors LLC purchased a new stake in Tri Pointe Homes in the fourth quarter worth about $60,261,000. Norges Bank purchased a new position in shares of Tri Pointe Homes in the 4th quarter valued at approximately $14,815,000. Raymond James Financial Inc. purchased a new position in shares of Tri Pointe Homes in the 4th quarter valued at approximately $13,342,000. Boston Partners bought a new stake in shares of Tri Pointe Homes during the fourth quarter valued at approximately $8,888,000. Finally, American Century Companies Inc. grew its stake in Tri Pointe Homes by 14.0% in the fourth quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company's stock worth $70,579,000 after purchasing an additional 238,807 shares during the period. Hedge funds and other institutional investors own 97.01% of the company's stock.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, CEO Douglas F. Bauer sold 120,287 shares of the business's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $30.15, for a total value of $3,626,653.05. Following the completion of the transaction, the chief executive officer now owns 627,833 shares of the company's stock, 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 can be accessed through this hyperlink. Company insiders own 2.70% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Royal Bank of Canada downgraded Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Oppenheimer decreased their price target on shares of Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Evercore ISI dropped their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Seaport Res Ptn upgraded Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Finally, Wedbush upgraded Tri Pointe Homes from a "neutral" rating to an "outperform" rating and lifted their price objective for the company 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $41.60.

Tri Pointe Homes Stock Down 0.4%

NYSE:TPH traded down $0.12 on Monday, reaching $29.36. 1,025,387 shares of the stock traded hands, compared to its average volume of 907,067. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 6.08, a PEG ratio of 0.67 and a beta of 1.34. Tri Pointe Homes, Inc. has a 12 month low of $27.90 and a 12 month high of $47.78. The company's fifty day simple moving average is $30.68 and its 200 day simple moving average is $34.45.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The construction company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.25. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The company had revenue of $720.79 million during the quarter, compared to the consensus estimate of $713.65 million. During the same quarter last year, the firm earned $1.03 earnings per share. The firm's quarterly revenue was down 21.5% compared to the same quarter last year. Equities analysts predict that Tri Pointe Homes, Inc. will post 3.58 EPS for the current fiscal year.

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.