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

Mackenzie Financial Corp boosted its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 129.1% in the fourth quarter, according to the company in its most recent 13F 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 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPH. Covestor Ltd grew its stake in shares of Tri Pointe Homes by 58.5% during the fourth quarter. Covestor Ltd now owns 908 shares of the construction company's stock valued at $33,000 after acquiring an additional 335 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Tri Pointe Homes by 84.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company's stock worth $49,000 after acquiring an additional 613 shares in the last quarter. Assetmark Inc. boosted its holdings in Tri Pointe Homes by 19.6% in the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company's stock valued at $66,000 after purchasing an additional 300 shares during the last quarter. Sterling Capital Management LLC grew its stake in 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 valued at $75,000 after purchasing an additional 1,831 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Tri Pointe Homes by 562.1% during the 4th quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company's stock worth $81,000 after purchasing an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

Insider Buying and Selling at Tri Pointe Homes

In other news, CEO Douglas F. Bauer sold 120,287 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $30.15, for a total transaction of $3,626,653.05. Following the sale, the chief executive officer now directly owns 627,833 shares in the company, valued at approximately $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 can be accessed through the SEC website. 2.70% of the stock is currently owned by insiders.

Tri Pointe Homes Stock Performance

TPH stock traded up $0.65 during trading on Wednesday, hitting $30.49. 769,162 shares of the company's stock traded hands, compared to its average volume of 908,037. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of 6.31, a price-to-earnings-growth ratio of 0.67 and a beta of 1.34. Tri Pointe Homes, Inc. has a 52 week low of $27.90 and a 52 week high of $47.78. The stock has a fifty day moving average price of $30.53 and a two-hundred day moving average price of $34.31. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The construction company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.45 by $0.25. The business had revenue of $720.79 million during the quarter, compared to analyst estimates of $713.65 million. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The company's quarterly revenue was down 21.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.03 EPS. As a group, equities analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. 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 report on Wednesday, February 19th. Evercore ISI decreased their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Wedbush raised shares of Tri Pointe Homes from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $38.00 to $43.00 in a research report on Monday, April 28th. Royal Bank of Canada cut shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. Finally, Seaport Res Ptn raised Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Tri Pointe Homes currently has an average rating of "Moderate Buy" and an average price target of $41.60.

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.