Teacher Retirement System of Texas decreased its stake in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 48.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 71,108 shares of the construction company's stock after selling 67,095 shares during the period. Teacher Retirement System of Texas owned 0.08% of Tri Pointe Homes worth $2,270,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of Tri Pointe Homes by 9.4% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,272 shares of the construction company's stock valued at $296,000 after acquiring an additional 800 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Tri Pointe Homes by 57.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,880 shares of the construction company's stock valued at $252,000 after acquiring an additional 2,875 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Tri Pointe Homes during the 1st quarter valued at about $300,000. HighTower Advisors LLC acquired a new position in shares of Tri Pointe Homes during the 4th quarter valued at about $5,553,000. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Tri Pointe Homes by 3.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 27,396 shares of the construction company's stock valued at $874,000 after acquiring an additional 801 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.
Tri Pointe Homes Stock Performance
TPH traded down $0.31 during midday trading on Friday, reaching $34.12. The company's stock had a trading volume of 798,727 shares, compared to its average volume of 923,551. The stock has a market cap of $3.09 billion, a P/E ratio of 7.58, a PEG ratio of 0.90 and a beta of 1.25. The company has a fifty day simple moving average of $31.30 and a 200 day simple moving average of $32.60. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.28. Tri Pointe Homes Inc. has a twelve month low of $27.90 and a twelve month high of $47.78.
Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its earnings results on Thursday, April 24th. The construction company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.25. The firm had revenue of $720.79 million for the quarter, compared to analyst estimates of $713.65 million. Tri Pointe Homes had a return on equity of 12.97% and a net margin of 10.02%. The company's revenue was down 21.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.03 EPS. Research analysts expect that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.
Insider Transactions at Tri Pointe Homes
In other Tri Pointe Homes news, CEO Douglas F. Bauer sold 120,287 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer owned 627,833 shares of the company's stock, valued at $18,929,164.95. This trade represents a 16.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.70% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Separately, Wedbush raised Tri Pointe Homes from a "neutral" rating to an "outperform" rating and increased their price objective for the company from $38.00 to $43.00 in a report on Monday, April 28th. Three investment 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 stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $41.60.
Read Our Latest Research Report on Tri Pointe Homes
About Tri Pointe Homes
(
Free Report)
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.
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