Russell Investments Group Ltd. Reduces Stake in 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. decreased its stake in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 26.8% during the first quarter, according to its most recent filing with the SEC. 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 0.29% of Tri Pointe Homes worth $8,403,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. LSV Asset Management lifted its holdings 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 purchasing an additional 80,198 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Tri Pointe Homes by 3.0% in the 4th quarter. Nuveen Asset Management LLC now owns 1,736,288 shares of the construction company's stock valued at $62,958,000 after acquiring an additional 49,916 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in shares of Tri Pointe Homes in the 4th quarter valued at about $60,261,000. Nuveen LLC purchased a new stake in shares of Tri Pointe Homes in the 1st quarter valued at about $43,906,000. Finally, Northern Trust Corp raised its holdings in shares of Tri Pointe Homes by 13.8% in the 4th quarter. Northern Trust Corp now owns 1,286,390 shares of the construction company's stock valued at $46,645,000 after acquiring an additional 155,694 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

Tri Pointe Homes Trading Down 1.3%

TPH traded down $0.4660 on Monday, hitting $35.6840. 926,030 shares of the company were exchanged, compared to its average volume of 1,203,321. The firm has a fifty day simple moving average of $32.98 and a two-hundred day simple moving average of $31.88. 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 12 month low of $27.90 and a 12 month high of $46.91. The stock has a market capitalization of $3.24 billion, a PE ratio of 9.08, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $884.01 million for the quarter, compared to analyst estimates of $810.77 million. During the same period last year, the company earned $1.25 EPS. Tri Pointe Homes's revenue for the quarter was down 22.3% compared to the same quarter last year. Sell-side analysts expect that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes announced that its board has authorized a stock repurchase program on Thursday, July 24th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TPH. Wolfe Research cut Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a report on Sunday, July 27th. Wedbush reaffirmed an "outperform" rating and issued a $43.00 price target on shares of Tri Pointe Homes in a report on Friday, July 25th. Evercore ISI reduced 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. Finally, Wall Street Zen lowered Tri Pointe Homes from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, Tri Pointe Homes currently has an average 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.