Jacobs Levy Equity Management Inc. Sells 688,613 Shares of Tri Pointe Homes Inc. $TPH

Key Points

• Jacobs Levy Equity Management Inc. significantly reduced its stake in Tri Pointe Homes by 58.2%, selling 688,613 shares to end up with 494,133 shares valued at approximately $15.77 million.
• Tri Pointe Homes reported a net margin of 9.22% and earnings per share (EPS) of $0.77 for the latest quarter, surpassing analysts' expectations.
• The company's Board of Directors has authorized a $50 million share buyback program, indicating confidence in the stock’s valuation.

Jacobs Levy Equity Management Inc. reduced its holdings in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 58.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 494,133 shares of the construction company's stock after selling 688,613 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.54% of Tri Pointe Homes worth $15,773,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. increased its stake in Tri Pointe Homes by 9.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,272 shares of the construction company's stock valued at $296,000 after purchasing an additional 800 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Tri Pointe Homes by 57.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,880 shares of the construction company's stock worth $252,000 after acquiring an additional 2,875 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Tri Pointe Homes by 2.9% during the first quarter. Principal Financial Group Inc. now owns 500,398 shares of the construction company's stock worth $15,973,000 after acquiring an additional 14,298 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Tri Pointe Homes during the first quarter worth $300,000. Finally, Entropy Technologies LP bought a new stake in shares of Tri Pointe Homes during the first quarter worth $676,000. Institutional investors own 97.01% of the company's stock.

Tri Pointe Homes Stock Performance

TPH stock traded down $0.79 during trading hours on Friday, reaching $35.57. The stock had a trading volume of 129,542 shares, compared to its average volume of 1,024,720. The stock has a market capitalization of $3.22 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 0.95 and a beta of 1.27. 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 has a 50-day simple moving average of $34.04 and a 200 day simple moving average of $32.07. Tri Pointe Homes Inc. has a fifty-two week low of $27.90 and a fifty-two week high of $46.91.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.11. The company had revenue of $884.01 million during the quarter, compared to analysts' expectations of $810.77 million. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. Tri Pointe Homes's quarterly revenue was down 22.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.25 EPS. Analysts predict that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes announced that its board has initiated a share repurchase program on Thursday, July 24th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Wedbush reissued an "outperform" rating and set a $43.00 price objective on shares of Tri Pointe Homes in a research report on Friday, July 25th. Wall Street Zen raised shares of Tri Pointe Homes from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Wolfe Research downgraded shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday, July 27th. Finally, Evercore ISI reduced their target price 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 investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $40.80.

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.