Tri Pointe Homes Inc. $TPH Holdings Decreased by Rhumbline Advisers

Key Points

• Rhumbline Advisers has reduced its stake in Tri Pointe Homes by 4.6%, holding 282,240 shares valued at approximately $9 million.
• Tri Pointe Homes reported earnings of $0.77 per share, surpassing analysts' expectations, although revenue fell by 22.3% year-over-year to $884.01 million.
• The company has implemented a $50 million stock buyback plan suggesting management believes its shares are undervalued, with institutional investors owning 97.01% of the stock.

Rhumbline Advisers trimmed its holdings in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 4.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 282,240 shares of the construction company's stock after selling 13,482 shares during the period. Rhumbline Advisers owned 0.31% of Tri Pointe Homes worth $9,009,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Smartleaf Asset Management LLC raised its position in shares of Tri Pointe Homes by 56.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,096 shares of the construction company's stock worth $67,000 after purchasing an additional 757 shares during the period. CWM LLC increased its position in Tri Pointe Homes by 67.8% in the first quarter. CWM LLC now owns 3,797 shares of the construction company's stock worth $121,000 after buying an additional 1,534 shares during the period. Covestor Ltd lifted its stake in Tri Pointe Homes by 327.8% in the first quarter. Covestor Ltd now owns 3,884 shares of the construction company's stock valued at $124,000 after buying an additional 2,976 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. acquired a new position in shares of Tri Pointe Homes during the first quarter valued at $202,000. Finally, Elevated Capital Advisors LLC grew its position in shares of Tri Pointe Homes by 9.3% during the first quarter. Elevated Capital Advisors LLC now owns 7,034 shares of the construction company's stock worth $225,000 after acquiring an additional 599 shares during the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Tri Pointe Homes Stock Performance

Shares of NYSE TPH opened at $35.07 on Thursday. Tri Pointe Homes Inc. has a 1 year low of $27.90 and a 1 year high of $46.91. The firm has a market cap of $3.18 billion, a P/E ratio of 8.92, a PEG ratio of 0.96 and a beta of 1.27. The stock has a fifty day moving average price of $33.97 and a two-hundred day moving average price of $32.04. 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 (NYSE:TPH - Get Free Report) last announced its earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.11. Tri Pointe Homes had a return on equity of 11.33% and a net margin of 9.22%.The business had revenue of $884.01 million during the quarter, compared to analysts' expectations of $810.77 million. During the same quarter last year, the business posted $1.25 earnings per share. The company's quarterly revenue was down 22.3% on a year-over-year basis. Research analysts forecast that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has approved a stock repurchase plan on Thursday, July 24th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several brokerages have commented on TPH. Wolfe Research lowered shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Wall Street Zen upgraded Tri Pointe Homes from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. 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 note on Friday, July 25th. Finally, Wedbush reissued an "outperform" rating and issued a $43.00 price target on shares of Tri Pointe Homes in a research note on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $40.80.

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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