Tri Pointe Homes Inc. (NYSE:TPH) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its position in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 27.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm 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 reporting period.

A number of other large investors have also recently added to or reduced their stakes in TPH. Inspire Advisors LLC increased its stake in Tri Pointe Homes by 121.0% during the first quarter. Inspire Advisors LLC now owns 38,778 shares of the construction company's stock worth $1,238,000 after acquiring an additional 21,231 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Tri Pointe Homes by 9.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,430 shares of the construction company's stock worth $971,000 after purchasing an additional 2,670 shares during the last quarter. Knights of Columbus Asset Advisors LLC increased its position in shares of Tri Pointe Homes by 2.8% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 62,749 shares of the construction company's stock worth $2,003,000 after purchasing an additional 1,681 shares during the last quarter. Neo Ivy Capital Management purchased a new stake in Tri Pointe Homes in the 1st quarter valued at about $911,000. Finally, Royce & Associates LP lifted its position in Tri Pointe Homes by 7.1% in the first quarter. Royce & Associates LP now owns 577,303 shares of the construction company's stock valued at $18,428,000 after buying an additional 38,223 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Tri Pointe Homes Stock Up 0.5%

Shares of Tri Pointe Homes stock traded up $0.16 during trading hours on Friday, reaching $32.95. 447,627 shares of the company were exchanged, compared to its average volume of 1,041,553. The firm has a market cap of $2.99 billion, a PE ratio of 8.38, a PEG ratio of 0.90 and a beta of 1.22. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.79 and a current ratio of 1.79. Tri Pointe Homes Inc. has a 1 year low of $27.90 and a 1 year high of $46.91. The stock's fifty day moving average is $31.97 and its 200 day moving average is $32.15.

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 the consensus estimate of $0.66 by $0.11. The firm had revenue of $884.01 million during the quarter, compared to analysts' expectations of $810.77 million. Tri Pointe Homes had a return on equity of 11.33% and a net margin of 9.22%. Tri Pointe Homes's revenue for the quarter was down 22.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.25 EPS. As a group, equities research analysts forecast that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its Board of Directors has initiated a share repurchase program on Thursday, July 24th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Wolfe Research downgraded shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Evercore ISI cut their target price on 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. Wall Street Zen lowered Tri Pointe Homes from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $43.00 price objective on shares of Tri Pointe Homes in a research note on Friday, July 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $40.80.

Tri Pointe Homes Company 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.