HighTower Advisors LLC Grows Stake in Tri Pointe Homes Inc. $TPH

Key Points

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HighTower Advisors LLC boosted its position in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 31.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 201,374 shares of the construction company's stock after buying 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.

Other large investors have also added to or reduced their stakes in the company. LSV Asset Management raised its holdings in shares of 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 in 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 purchasing an additional 49,916 shares in the last quarter. Castlekeep Investment Advisors LLC purchased a new stake in Tri Pointe Homes during the fourth quarter valued at $60,261,000. Nuveen LLC purchased a new stake in Tri Pointe Homes during the first quarter valued at $43,906,000. Finally, Northern Trust Corp raised its stake in Tri Pointe Homes by 13.8% during the fourth quarter. Northern Trust Corp now owns 1,286,390 shares of the construction company's stock valued at $46,645,000 after purchasing an additional 155,694 shares in the last quarter. Institutional investors own 97.01% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Evercore ISI decreased their price target on shares of Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday, July 25th. Wedbush reiterated an "outperform" rating and issued a $43.00 price target on shares of Tri Pointe Homes in a research report on Friday, July 25th. Wall Street Zen lowered Tri Pointe Homes from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. Finally, Wolfe Research lowered Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $40.80.

Tri Pointe Homes Trading Up 5.5%

Shares of 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 1,203,321. Tri Pointe Homes Inc. has a 1 year low of $27.90 and a 1 year high of $46.91. The firm has a market cap of $3.28 billion, a PE ratio of 9.20, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.79. The stock's 50 day moving average is $32.88 and its 200 day moving average is $31.88.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced 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. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. The business had revenue of $884.01 million for the quarter, compared to the consensus estimate of $810.77 million. During the same quarter in the prior year, the firm posted $1.25 earnings per share. The business's revenue for the quarter was down 22.3% on a year-over-year basis. As a group, analysts forecast that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

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

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.