Tri Pointe Homes Inc. $TPH Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. significantly reduced its stake in Tri Pointe Homes Inc. by 53.8% during the first quarter, leaving it with 492,983 shares worth approximately $15.7 million.
• Tri Pointe Homes reported earnings per share (EPS) of $0.77 for the last quarter, exceeding analysts' expectations of $0.66, despite a year-over-year revenue decline of 22.3%.
• The company has initiated a $50 million share repurchase plan, indicating that its board believes the stock is currently undervalued.

Invesco Ltd. reduced its holdings in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 53.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 492,983 shares of the construction company's stock after selling 575,090 shares during the quarter. Invesco Ltd. owned approximately 0.54% of Tri Pointe Homes worth $15,736,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its holdings in Tri Pointe Homes by 67.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 3,578 shares of the construction company's stock valued at $130,000 after acquiring an additional 1,445 shares in the last quarter. CWM LLC increased its holdings in Tri Pointe Homes by 67.8% during the 1st quarter. CWM LLC now owns 3,797 shares of the construction company's stock valued at $121,000 after acquiring an additional 1,534 shares in the last quarter. Covestor Ltd increased its holdings in Tri Pointe Homes by 327.8% during the 1st quarter. Covestor Ltd now owns 3,884 shares of the construction company's stock valued at $124,000 after acquiring an additional 2,976 shares in the last quarter. Hancock Whitney Corp increased its holdings in Tri Pointe Homes by 8.3% during the 4th quarter. Hancock Whitney Corp now owns 5,779 shares of the construction company's stock valued at $210,000 after acquiring an additional 442 shares in the last quarter. Finally, PharVision Advisers LLC purchased a new position in Tri Pointe Homes during the 4th quarter valued at about $242,000. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Tri Pointe Homes Trading Down 0.1%

Shares of NYSE TPH traded down $0.05 during midday trading on Thursday, reaching $35.28. 935,286 shares of the stock were exchanged, compared to its average volume of 1,095,962. The company has a market capitalization of $3.20 billion, a P/E ratio of 8.98, a P/E/G ratio of 0.96 and a beta of 1.22. Tri Pointe Homes Inc. has a 52-week low of $27.90 and a 52-week high of $46.91. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.28. The stock has a 50 day moving average price of $33.30 and a 200-day moving average price of $31.92.

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 (EPS) for the quarter, topping 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 analysts' expectations of $810.77 million. During the same period last year, the company earned $1.25 earnings per share. The company's quarterly revenue was down 22.3% on a year-over-year basis. Equities research analysts expect that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its board has initiated a stock buyback program 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 shares through open market purchases. Shares repurchase programs are usually a sign that the company's board believes its shares are undervalued.

Analyst Upgrades and Downgrades

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

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.