Tri Pointe Homes Inc. $TPH Shares Bought by Public Employees Retirement System of Ohio

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in Tri Pointe Homes Inc. by 54.8% during the 2nd quarter, owning a total of 31,551 shares valued at approximately $1,008,000.
• Tri Pointe Homes recently announced a $50 million share buyback plan, indicating that the company's leadership believes its shares are undervalued.
• Despite a 22.3% decline in year-over-year revenue, Tri Pointe Homes reported an EPS of $0.77 for the last quarter, exceeding analysts' expectations.

Public Employees Retirement System of Ohio grew its holdings in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 54.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 31,551 shares of the construction company's stock after purchasing an additional 11,167 shares during the period. Public Employees Retirement System of Ohio's holdings in Tri Pointe Homes were worth $1,008,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TPH. Nuveen LLC acquired a new stake in shares of Tri Pointe Homes in the 1st quarter worth approximately $43,906,000. Allianz Asset Management GmbH grew its holdings in shares of Tri Pointe Homes by 54.8% in the 1st quarter. Allianz Asset Management GmbH now owns 1,255,057 shares of the construction company's stock worth $40,061,000 after acquiring an additional 444,153 shares during the period. First Wilshire Securities Management Inc. acquired a new stake in shares of Tri Pointe Homes in the 1st quarter worth approximately $9,987,000. Boston Partners grew its holdings in shares of Tri Pointe Homes by 108.8% in the 1st quarter. Boston Partners now owns 511,741 shares of the construction company's stock worth $16,333,000 after acquiring an additional 266,685 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Tri Pointe Homes by 13.5% in the 1st quarter. American Century Companies Inc. now owns 2,209,166 shares of the construction company's stock worth $70,517,000 after acquiring an additional 262,695 shares during the period. Institutional investors and hedge funds own 97.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TPH. Wedbush restated 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 lowered their price target on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating on the stock in a report on Friday, July 25th. Weiss Ratings restated a "hold (c+)" rating on shares of Tri Pointe Homes in a report on Saturday, September 27th. Wall Street Zen upgraded Tri Pointe Homes from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Finally, Wolfe Research cut Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a report on Sunday, July 27th. 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. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $40.25.

Tri Pointe Homes Price Performance

Shares of NYSE:TPH opened at $34.67 on Friday. The company has a market cap of $3.14 billion, a P/E ratio of 8.82, a P/E/G ratio of 0.94 and a beta of 1.30. 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 Inc. has a 52 week low of $27.90 and a 52 week high of $46.91. The business has a fifty day simple moving average of $34.33 and a 200-day simple moving average of $32.35.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. The business had revenue of $884.01 million during 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 business's revenue for the quarter was down 22.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.25 earnings per share. Equities research 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 approved a share buyback plan on Thursday, July 24th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

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.

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