Victory Capital Management Inc. Purchases 26,836 Shares of Tri Pointe Homes Inc. (NYSE:TPH)

Victory Capital Management Inc. grew its holdings in shares of Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 333,422 shares of the construction company's stock after buying an additional 26,836 shares during the quarter. Victory Capital Management Inc. owned 0.37% of Tri Pointe Homes worth $10,643,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TPH. CWM LLC boosted its holdings in Tri Pointe Homes by 67.8% in the first quarter. CWM LLC now owns 3,797 shares of the construction company's stock worth $121,000 after purchasing an additional 1,534 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Tri Pointe Homes by 2.0% during the first quarter. New York State Common Retirement Fund now owns 59,760 shares of the construction company's stock worth $1,908,000 after purchasing an additional 1,150 shares during the period. Xponance Inc. grew its position in shares of Tri Pointe Homes by 5.0% during the 1st quarter. Xponance Inc. now owns 7,095 shares of the construction company's stock valued at $226,000 after buying an additional 336 shares during the last quarter. Cerity Partners LLC grew its position in shares of Tri Pointe Homes by 9.1% during the 1st quarter. Cerity Partners LLC now owns 69,018 shares of the construction company's stock valued at $2,203,000 after buying an additional 5,754 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale grew its position in shares of Tri Pointe Homes by 66.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 7,916 shares of the construction company's stock valued at $248,000 after buying an additional 3,168 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TPH shares. Evercore ISI cut their target price on Tri Pointe Homes from $39.00 to $38.00 and set an "outperform" rating on the stock in a research note on Friday. Wedbush reiterated an "outperform" rating and issued a $43.00 target price on shares of Tri Pointe Homes in a research note on Friday. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Tri Pointe Homes currently has an average rating of "Moderate Buy" and a consensus price target of $40.80.

Tri Pointe Homes Price Performance

Shares of NYSE:TPH traded down $0.15 during trading hours on Friday, hitting $31.59. 1,482,663 shares of the company's stock traded hands, compared to its average volume of 1,119,506. Tri Pointe Homes Inc. has a 52 week low of $27.90 and a 52 week high of $47.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.97 and a current ratio of 1.79. The company's fifty day simple moving average is $31.65 and its two-hundred day simple moving average is $32.43. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 8.04, a price-to-earnings-growth ratio of 0.83 and a beta of 1.25.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $884.01 million during the quarter, compared to analyst estimates of $810.77 million. During the same quarter last year, the firm posted $1.25 EPS. The business's revenue for the quarter was down 22.3% on a year-over-year basis. As a group, equities analysts anticipate 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 repurchase $50.00 million in 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 typically a sign that the company's board of directors believes its shares are undervalued.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, CEO Douglas F. Bauer sold 120,287 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $30.15, for a total value of $3,626,653.05. Following the completion of the transaction, the chief executive officer directly owned 627,833 shares in the company, valued at $18,929,164.95. This trade represents a 16.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 2.70% of the stock is currently owned by insiders.

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.