Tri Pointe Homes Inc. $TPH Shares Purchased by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Key Points

• Empirical Financial Services LLC increased its stake in Tri Pointe Homes by 43.2% in Q2, owning 33,684 shares worth approximately $1,076,000.
• Tri Pointe Homes has approved a stock buyback plan of $50 million, indicating confidence in the company's valuation.
• The company reported earnings per share of $0.77 for the last quarter, surpassing analysts' expectations of $0.66, despite a 22.3% year-over-year revenue decline.

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 43.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,684 shares of the construction company's stock after acquiring an additional 10,162 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Tri Pointe Homes were worth $1,076,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its position in shares of Tri Pointe Homes by 56.5% during the first quarter. Smartleaf Asset Management LLC now owns 2,096 shares of the construction company's stock worth $67,000 after acquiring an additional 757 shares during the last quarter. GAMMA Investing LLC lifted its position in Tri Pointe Homes by 19.6% in the second quarter. GAMMA Investing LLC now owns 2,377 shares of the construction company's stock worth $76,000 after purchasing an additional 389 shares during the period. CWM LLC boosted its stake in Tri Pointe Homes by 67.8% during the first quarter. CWM LLC now owns 3,797 shares of the construction company's stock valued at $121,000 after buying an additional 1,534 shares in the last quarter. Covestor Ltd grew its holdings in Tri Pointe Homes by 327.8% during the first quarter. Covestor Ltd now owns 3,884 shares of the construction company's stock worth $124,000 after acquiring an additional 2,976 shares during the period. Finally, Banco Bilbao Vizcaya Argentaria S.A. bought a new stake in Tri Pointe Homes in the first quarter worth about $202,000. 97.01% of the stock is owned by institutional investors.

Tri Pointe Homes Stock Up 1.5%

NYSE:TPH opened at $34.67 on Friday. The business's fifty day moving average price is $34.33 and its 200 day moving average price is $32.35. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 0.94 and a beta of 1.30. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.28. Tri Pointe Homes Inc. has a 1-year low of $27.90 and a 1-year high of $46.91.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.11. The company had revenue of $884.01 million for the quarter, compared to analysts' expectations 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 posted $1.25 EPS. On average, sell-side analysts forecast that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its board has approved 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 purchase up to 1.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Wolfe Research lowered shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday, July 27th. Wedbush restated an "outperform" rating and issued a $43.00 price target on shares of Tri Pointe Homes in a research report on Friday, July 25th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Tri Pointe Homes in a report on Saturday, September 27th. Evercore ISI decreased their target price 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. Finally, Wall Street Zen raised Tri Pointe Homes from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $40.25.

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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