Russell Investments Group Ltd. Sells 96,284 Shares of Tri Pointe Homes Inc. $TPH

Key Points

• Russell Investments Group Ltd. reduced its stake in Tri Pointe Homes Inc. by 26.8% in Q1, holding 263,237 shares worth approximately $8.4 million.
• Tri Pointe Homes has experienced mixed analyst ratings, with a current consensus of "Moderate Buy" and a price target of $40.80, despite some recent downgrades.
• The company's board authorized a $50 million share repurchase plan, indicating a belief that its shares are undervalued.

Russell Investments Group Ltd. lowered its holdings in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 26.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 263,237 shares of the construction company's stock after selling 96,284 shares during the period. Russell Investments Group Ltd. owned approximately 0.29% of Tri Pointe Homes worth $8,403,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TPH. LSV Asset Management grew its position in Tri Pointe Homes by 4.8% during the 1st quarter. LSV Asset Management now owns 1,762,922 shares of the construction company's stock worth $56,272,000 after acquiring an additional 80,198 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Tri Pointe Homes by 3.0% during the fourth quarter. Nuveen Asset Management LLC now owns 1,736,288 shares of the construction company's stock valued at $62,958,000 after buying an additional 49,916 shares during the last quarter. Castlekeep Investment Advisors LLC purchased a new position in Tri Pointe Homes during the fourth quarter valued at $60,261,000. Nuveen LLC purchased a new position in shares of Tri Pointe Homes in the first quarter worth $43,906,000. Finally, Northern Trust Corp raised its stake in shares of Tri Pointe Homes by 13.8% in the fourth quarter. Northern Trust Corp now owns 1,286,390 shares of the construction company's stock worth $46,645,000 after purchasing an additional 155,694 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Trading Up 5.5%

NYSE:TPH traded up $1.8850 during midday trading on Friday, hitting $36.1550. The stock had a trading volume of 1,536,842 shares, compared to its average volume of 1,200,628. Tri Pointe Homes Inc. has a one year low of $27.90 and a one year high of $46.91. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 0.98 and a beta of 1.22. The stock has a 50-day moving average of $32.88 and a 200 day moving average of $31.91. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, topping 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 company had revenue of $884.01 million for the quarter, compared to analysts' expectations of $810.77 million. During the same quarter in the prior year, the firm earned $1.25 earnings per share. Tri Pointe Homes's revenue was down 22.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Evercore ISI decreased their price objective 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 downgraded Tri Pointe Homes from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Wolfe Research downgraded Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday, July 27th. Finally, Wedbush restated an "outperform" rating and set a $43.00 price objective on shares of Tri Pointe Homes in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company's stock. According to 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.