Tri Pointe Homes Inc. $TPH Shares Sold by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP reduced its stake in Tri Pointe Homes Inc. by 6.9%, owning approximately 0.65% of the company worth $18.69 million after selling 43,720 shares.
• Tri Pointe Homes reported $0.77 earnings per share for the last quarter, beating estimates of $0.66, although revenue was down 22.3% year-over-year at $884.01 million.
• The company's board has authorized a $50 million share buyback plan, indicating confidence in its own stock valuation amid recent market activity.

Wellington Management Group LLP trimmed its holdings in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 6.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 585,624 shares of the construction company's stock after selling 43,720 shares during the period. Wellington Management Group LLP owned approximately 0.65% of Tri Pointe Homes worth $18,693,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. CWM LLC increased its holdings in shares of 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 purchasing an additional 1,534 shares during the period. Covestor Ltd increased its holdings in shares of Tri Pointe Homes by 327.8% during the first quarter. Covestor Ltd now owns 3,884 shares of the construction company's stock valued at $124,000 after purchasing an additional 2,976 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Tri Pointe Homes by 67.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 3,578 shares of the construction company's stock valued at $130,000 after purchasing an additional 1,445 shares during the period. Hancock Whitney Corp increased its holdings in shares of Tri Pointe Homes by 8.3% during the fourth quarter. Hancock Whitney Corp now owns 5,779 shares of the construction company's stock valued at $210,000 after purchasing an additional 442 shares during the period. Finally, Elevated Capital Advisors LLC increased its holdings in shares of Tri Pointe Homes by 9.3% during the first quarter. Elevated Capital Advisors LLC now owns 7,034 shares of the construction company's stock valued at $225,000 after purchasing an additional 599 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

Tri Pointe Homes Trading Down 1.3%

NYSE:TPH opened at $35.6840 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 1-year low of $27.90 and a 1-year high of $46.91. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 9.08, a price-to-earnings-growth ratio of 0.98 and a beta of 1.22. The stock has a fifty day simple moving average of $32.98 and a 200 day simple moving average of $31.88.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $810.77 million. During the same quarter last year, the company posted $1.25 EPS. Tri Pointe Homes's revenue for the quarter was down 22.3% on a year-over-year basis. Sell-side analysts forecast that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its board has authorized a share buyback plan on Thursday, July 24th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the construction company to buy up to 1.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on TPH shares. Wall Street Zen lowered Tri Pointe Homes from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Evercore ISI lowered their price target 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. Wolfe Research cut Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research note on Sunday, July 27th. Finally, Wedbush reaffirmed an "outperform" rating and set a $43.00 target price on shares of Tri Pointe Homes in a research note on Friday, July 25th. One equities research 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 company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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