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

Mackenzie Financial Corp cut its position in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 27.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,644 shares of the construction company's stock after selling 14,324 shares during the quarter. Mackenzie Financial Corp's holdings in Tri Pointe Homes were worth $1,202,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of TPH. Castlekeep Investment Advisors LLC bought a new stake in Tri Pointe Homes in the 4th quarter valued at about $60,261,000. Allianz Asset Management GmbH lifted its position in Tri Pointe Homes by 54.8% in the 1st quarter. Allianz Asset Management GmbH now owns 1,255,057 shares of the construction company's stock valued at $40,061,000 after purchasing an additional 444,153 shares during the last quarter. Norges Bank bought a new stake in Tri Pointe Homes in the 4th quarter valued at about $14,815,000. Assenagon Asset Management S.A. lifted its position in Tri Pointe Homes by 23.3% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,114,358 shares of the construction company's stock valued at $35,570,000 after purchasing an additional 210,810 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Tri Pointe Homes in the 4th quarter valued at about $6,380,000. 97.01% of the stock is currently owned by institutional investors.

Tri Pointe Homes Stock Up 2.3%

NYSE TPH opened at $32.74 on Tuesday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.79. The company's 50 day simple moving average is $31.78 and its 200 day simple moving average is $32.16. Tri Pointe Homes Inc. has a 12 month low of $27.90 and a 12 month high of $46.91. The company has a market capitalization of $2.97 billion, a P/E ratio of 8.33, a PEG ratio of 0.87 and a beta of 1.22.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its earnings results on Thursday, July 24th. The construction company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.11. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. The business had revenue of $884.01 million for the quarter, compared to the consensus estimate of $810.77 million. During the same period in the previous year, the firm earned $1.25 EPS. The business's revenue for the quarter was down 22.3% on a year-over-year basis. Equities research analysts expect that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its board has approved a share repurchase program on Thursday, July 24th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 1.6% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

TPH has been the topic of several recent research reports. Wedbush reiterated an "outperform" rating and issued a $43.00 price objective on shares of Tri Pointe Homes in a research report on Friday, July 25th. Wall Street Zen downgraded shares of Tri Pointe Homes from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Wolfe Research downgraded shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday, July 27th. Finally, Evercore ISI dropped their price target on shares of Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating on the stock in a research report on Friday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tri Pointe Homes currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.80.

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.

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