Tri Pointe Homes Inc. $TPH Holdings Trimmed by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH has reduced its stake in Tri Pointe Homes by 4.4%, now holding approximately 1.32% of the company's shares, valued at around $38.3 million.
• Analysts have mixed opinions on Tri Pointe Homes, with ratings ranging from "Strong Buy" to "Peer Perform," and a consensus target price of $39.25.
• The company reported an EPS of $0.77 for the last quarter, surpassing estimates, despite a 22.3% revenue decline compared to the previous year.

Allianz Asset Management GmbH lowered its position in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 4.4% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,199,586 shares of the construction company's stock after selling 55,471 shares during the quarter. Allianz Asset Management GmbH owned 1.32% of Tri Pointe Homes worth $38,327,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Moran Wealth Management LLC bought a new position in Tri Pointe Homes during the second quarter valued at about $2,143,000. CWM LLC boosted its position in shares of Tri Pointe Homes by 1,190.9% in the 2nd quarter. CWM LLC now owns 49,017 shares of the construction company's stock valued at $1,566,000 after purchasing an additional 45,220 shares during the period. Inspire Investing LLC boosted its position in shares of Tri Pointe Homes by 16.1% in the 2nd quarter. Inspire Investing LLC now owns 14,689 shares of the construction company's stock valued at $469,000 after purchasing an additional 2,037 shares during the period. Blue Trust Inc. boosted its position in shares of Tri Pointe Homes by 16.6% in the 2nd quarter. Blue Trust Inc. now owns 2,982 shares of the construction company's stock valued at $95,000 after purchasing an additional 424 shares during the period. Finally, Belpointe Asset Management LLC boosted its position in shares of Tri Pointe Homes by 24.9% in the 2nd quarter. Belpointe Asset Management LLC now owns 12,730 shares of the construction company's stock valued at $407,000 after purchasing an additional 2,541 shares during the period. Institutional investors own 97.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wolfe Research lowered Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday, July 27th. Wedbush reissued 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 reissued an "in-line" rating and issued a $34.00 price objective (down from $38.00) on shares of Tri Pointe Homes in a research note on Tuesday, October 7th. Weiss Ratings reissued a "hold (c+)" rating on shares of Tri Pointe Homes in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Tri Pointe Homes from a "sell" rating to a "hold" rating in a research note on Saturday, August 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $39.25.

Tri Pointe Homes Stock Up 0.2%

Shares of TPH stock opened at $31.96 on Friday. The stock's 50 day simple moving average is $34.30 and its 200 day simple moving average is $32.34. 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 twelve month low of $27.90 and a twelve month high of $46.91. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 8.13, a PEG ratio of 0.86 and a beta of 1.30.

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

Tri Pointe Homes announced that its Board of Directors has authorized a stock buyback program on Thursday, July 24th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to buy up to 1.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its shares are undervalued.

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.

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