Tri Pointe Homes Inc. $TPH Shares Purchased by HighTower Advisors LLC

Key Points

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HighTower Advisors LLC increased its holdings in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 31.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 201,374 shares of the construction company's stock after acquiring an additional 48,241 shares during the period. HighTower Advisors LLC owned approximately 0.22% of Tri Pointe Homes worth $6,428,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Public Sector Pension Investment Board grew its holdings in Tri Pointe Homes by 46.5% during the first quarter. Public Sector Pension Investment Board now owns 341,444 shares of the construction company's stock worth $10,899,000 after acquiring an additional 108,306 shares during the period. Nuveen LLC acquired a new position in Tri Pointe Homes during the first quarter worth $43,906,000. Entropy Technologies LP acquired a new position in Tri Pointe Homes during the first quarter worth $676,000. 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, Connor Clark & Lunn Investment Management Ltd. grew its holdings in Tri Pointe Homes by 52.3% during the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 115,167 shares of the construction company's stock worth $3,676,000 after acquiring an additional 39,531 shares during the period. Institutional investors and hedge funds own 97.01% of the company's stock.

Tri Pointe Homes Stock Down 0.7%

Shares of NYSE:TPH opened at $34.65 on Tuesday. 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 stock's fifty day simple moving average is $32.57 and its 200-day simple moving average is $31.92. The company has a market capitalization of $3.14 billion, a P/E ratio of 8.82, a P/E/G ratio of 0.95 and a beta of 1.22.

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 (EPS) for the quarter, beating 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 the consensus estimate of $810.77 million. During the same period in the prior year, the business earned $1.25 earnings per share. The business's revenue was down 22.3% on a year-over-year basis. As a group, equities research analysts forecast that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

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

Wall Street Analyst Weigh In

A number of research firms have commented on TPH. Wedbush reiterated an "outperform" rating and set a $43.00 target price on shares of Tri Pointe Homes 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, 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 research report on Friday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tri Pointe Homes has an average rating of "Moderate Buy" and an average target price of $40.80.

About Tri Pointe Homes

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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