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 position in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 585,624 shares of the construction company's stock after selling 43,720 shares during the quarter. Wellington Management Group LLP owned about 0.65% of Tri Pointe Homes worth $18,693,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. CWM LLC raised its position in 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 acquiring an additional 1,534 shares in the last quarter. Covestor Ltd raised its position in 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 acquiring an additional 2,976 shares in the last quarter. Tower Research Capital LLC TRC raised its position in 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 acquiring an additional 1,445 shares in the last quarter. Hancock Whitney Corp raised its position in 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 acquiring an additional 442 shares in the last quarter. Finally, Elevated Capital Advisors LLC raised its position in 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 acquiring an additional 599 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Tri Pointe Homes Price Performance

TPH traded down $0.01 during trading on Friday, hitting $35.30. The company's stock had a trading volume of 591,329 shares, compared to its average volume of 990,022. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.28. Tri Pointe Homes Inc. has a twelve month low of $27.90 and a twelve month high of $46.91. The business's fifty day simple moving average is $33.39 and its 200 day simple moving average is $31.87. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 8.98, a P/E/G ratio of 0.96 and a beta of 1.27.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.66 by $0.11. The company had revenue of $884.01 million for the quarter, compared to analyst estimates of $810.77 million. Tri Pointe Homes had a return on equity of 11.33% and a net margin of 9.22%.Tri Pointe Homes's quarterly revenue was down 22.3% compared to the same quarter last year. During the same period last year, the company earned $1.25 earnings per share. On average, equities research 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 program on Thursday, July 24th that permits the company to repurchase $50.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 1.6% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on TPH. Wall Street Zen upgraded Tri Pointe Homes from a "sell" rating to a "hold" rating in a research report on Saturday. Wedbush reissued an "outperform" rating and issued a $43.00 price objective on shares of Tri Pointe Homes in a report on Friday, July 25th. Wolfe Research lowered Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a report on Sunday, July 27th. Finally, Evercore ISI dropped their price objective 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. One research 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 stock. Based on data from MarketBeat.com, the company 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.