Tri Pointe Homes Inc. (NYSE:TPH) Stock Holdings Trimmed by Teacher Retirement System of Texas

Teacher Retirement System of Texas lowered its holdings in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 48.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,108 shares of the construction company's stock after selling 67,095 shares during the period. Teacher Retirement System of Texas owned approximately 0.08% of Tri Pointe Homes worth $2,270,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Covestor Ltd increased its position in shares of 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. Assetmark Inc. increased its position in shares of Tri Pointe Homes by 19.6% during the 4th 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 period. Sterling Capital Management LLC increased its position 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 valued at $75,000 after purchasing an additional 1,831 shares during the period. New Age Alpha Advisors LLC acquired a new position in shares of Tri Pointe Homes during the 4th quarter valued at $118,000. Finally, CIBC Private Wealth Group LLC increased its position 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 valued at $126,000 after purchasing an additional 287 shares during the period. Institutional investors own 97.01% of the company's stock.

Wall Street Analyst Weigh In

Separately, Wedbush upgraded Tri Pointe Homes from a "neutral" rating to an "outperform" rating and lifted their price target for the company from $38.00 to $43.00 in a research 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 company. According to data from MarketBeat.com, Tri Pointe Homes presently has an average rating of "Moderate Buy" and a consensus price target of $41.60.

Insider Transactions at Tri Pointe Homes

In related news, CEO Douglas F. Bauer sold 120,287 shares of the 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 sale, the chief executive officer directly owned 627,833 shares of the company's stock, valued at approximately $18,929,164.95. This represents a 16.08% decrease in their position. The sale was disclosed in a legal 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 Stock Performance

Shares of NYSE TPH opened at $34.28 on Thursday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.28. The stock has a market capitalization of $3.11 billion, a price-to-earnings ratio of 7.62, a PEG ratio of 0.85 and a beta of 1.25. The stock's fifty day simple moving average is $31.18 and its 200 day simple moving average is $32.64. Tri Pointe Homes Inc. has a 52-week low of $27.90 and a 52-week high of $47.78.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The construction company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.25. The firm had revenue of $720.79 million during the quarter, compared to the consensus estimate of $713.65 million. Tri Pointe Homes had a return on equity of 12.97% and a net margin of 10.02%. The business's revenue for the quarter was down 21.5% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 EPS. As a group, sell-side analysts forecast that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

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.

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