Rhumbline Advisers Lowers Stake in Tri Pointe Homes Inc. $TPH

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 lowered its stake in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 4.6% during the 1st quarter, according to its most recent 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 approximately 0.31% of Tri Pointe Homes worth $9,009,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Strs Ohio bought a new position in shares of Tri Pointe Homes in the 1st quarter worth approximately $606,000. Belpointe Asset Management LLC lifted its stake in shares of Tri Pointe Homes by 25.3% in the 1st quarter. Belpointe Asset Management LLC now owns 10,189 shares of the construction company's stock worth $325,000 after purchasing an additional 2,058 shares during the period. Intech Investment Management LLC lifted its stake in shares of Tri Pointe Homes by 33.5% in the 1st quarter. Intech Investment Management LLC now owns 56,013 shares of the construction company's stock worth $1,788,000 after purchasing an additional 14,069 shares during the period. Bayforest Capital Ltd lifted its stake in shares of Tri Pointe Homes by 1,799.6% in the 1st quarter. Bayforest Capital Ltd now owns 30,660 shares of the construction company's stock worth $979,000 after purchasing an additional 29,046 shares during the period. Finally, Great Lakes Advisors LLC lifted its stake in shares of Tri Pointe Homes by 2,085.4% in the 1st quarter. Great Lakes Advisors LLC now owns 123,146 shares of the construction company's stock worth $3,931,000 after purchasing an additional 117,511 shares during the period. Institutional investors own 97.01% of the company's stock.

Tri Pointe Homes Trading Down 0.6%

NYSE TPH traded down $0.20 on Tuesday, hitting $34.88. 276,536 shares of the stock were exchanged, compared to its average volume of 1,022,026. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a fifty day moving average price of $34.14 and a two-hundred day moving average price of $32.13. The firm has a market capitalization of $3.16 billion, a P/E ratio of 8.87, a P/E/G ratio of 0.95 and a beta of 1.27. Tri Pointe Homes Inc. has a 52-week low of $27.90 and a 52-week high of $46.91.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $884.01 million during the quarter, compared to analyst estimates of $810.77 million. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. Tri Pointe Homes's quarterly revenue was down 22.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.25 earnings per share. Research analysts forecast that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes declared that its board has approved a stock repurchase program on Thursday, July 24th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the construction company to repurchase up to 1.6% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several equities analysts have recently weighed in on TPH shares. Wedbush reiterated an "outperform" rating and issued a $43.00 price objective on shares of Tri Pointe Homes in a research note on Friday, July 25th. Evercore ISI lowered their price objective on shares of 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. Wolfe Research cut shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Finally, Wall Street Zen raised shares of Tri Pointe Homes from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, Tri Pointe Homes presently has a consensus rating of "Moderate Buy" and a consensus price target 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.