Teacher Retirement System of Texas trimmed its position in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 48.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,108 shares of the construction company's stock after selling 67,095 shares during the quarter. Teacher Retirement System of Texas owned approximately 0.08% of Tri Pointe Homes worth $2,270,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of TPH. Covestor Ltd raised its holdings in shares of Tri Pointe Homes by 58.5% in 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 in the last quarter. Assetmark Inc. grew its position in shares of Tri Pointe Homes by 19.6% in the 4th quarter. Assetmark Inc. now owns 1,827 shares of the construction company's stock valued at $66,000 after buying an additional 300 shares during the last quarter. Sterling Capital Management LLC grew 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 valued at $75,000 after buying an additional 1,831 shares during the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of Tri Pointe Homes in the 4th quarter valued at $118,000. Finally, CIBC Private Wealth Group LLC grew 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 valued at $126,000 after buying an additional 287 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.
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 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 transaction, the chief executive officer directly owned 627,833 shares of the company's stock, valued at approximately $18,929,164.95. This trade represents a 16.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.70% of the company's stock.
Tri Pointe Homes Stock Performance
Tri Pointe Homes stock traded down $0.31 during midday trading on Friday, hitting $34.12. 798,727 shares of the company's stock were exchanged, compared to its average volume of 922,879. Tri Pointe Homes Inc. has a 12-month low of $27.90 and a 12-month high of $47.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a market cap of $3.09 billion, a price-to-earnings ratio of 7.58, a price-to-earnings-growth ratio of 0.89 and a beta of 1.25. The firm's 50 day simple moving average is $31.30 and its 200 day simple moving average is $32.57.
Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued 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. Tri Pointe Homes had a net margin of 10.02% and a return on equity of 12.97%. The company had revenue of $720.79 million for the quarter, compared to the consensus estimate of $713.65 million. During the same period last year, the firm posted $1.03 EPS. Tri Pointe Homes's revenue for the quarter was down 21.5% on a year-over-year basis. Equities research analysts predict that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.
Analysts Set New Price Targets
Separately, Wedbush raised shares of Tri Pointe Homes from a "neutral" rating to an "outperform" rating and increased their target price for the company from $38.00 to $43.00 in a research report on Monday, April 28th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $41.60.
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About Tri Pointe Homes
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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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