Wealth Enhancement Advisory Services LLC Raises Stock Holdings in Tri Pointe Homes Inc. $TPH

Key Points

• Wealth Enhancement Advisory Services LLC significantly increased its stake in Tri Pointe Homes Inc. by 324.6% during the second quarter, now holding 33,462 shares valued at approximately $1.1 million.
• Tri Pointe Homes recently reported $0.77 EPS for the quarter, surpassing analyst expectations, while its revenue totaled $884.01 million despite a 22.3% decline year-over-year.
• The company announced a stock repurchase plan allowing it to buy back $50 million worth of shares, indicating management's belief that the stock is undervalued.

Wealth Enhancement Advisory Services LLC raised its stake in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 324.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,462 shares of the construction company's stock after acquiring an additional 25,582 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Tri Pointe Homes were worth $1,104,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of TPH. GAMMA Investing LLC grew its stake in shares of Tri Pointe Homes by 3,491.2% in the first quarter. GAMMA Investing LLC now owns 63,457 shares of the construction company's stock worth $1,988,000 after acquiring an additional 61,690 shares during the last quarter. Signet Financial Management LLC grew its stake in shares of Tri Pointe Homes by 0.7% in the first quarter. Signet Financial Management LLC now owns 132,046 shares of the construction company's stock worth $4,215,000 after acquiring an additional 960 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Tri Pointe Homes in the first quarter worth $300,000. Assenagon Asset Management S.A. grew its stake in shares of Tri Pointe Homes by 23.3% in the first quarter. Assenagon Asset Management S.A. now owns 1,114,358 shares of the construction company's stock worth $35,570,000 after acquiring an additional 210,810 shares during the last quarter. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Tri Pointe Homes in the first quarter worth $1,024,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Stock Up 0.9%

NYSE TPH opened at $34.28 on Thursday. The stock's 50-day moving average price is $34.22 and its 200-day moving average price is $32.30. 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 52 week low of $27.90 and a 52 week high of $46.91. The company has a market capitalization of $3.11 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 0.92 and a beta of 1.30.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $884.01 million for the quarter, compared to the consensus estimate of $810.77 million. During the same quarter last year, the company earned $1.25 earnings per share. The business's revenue for the quarter was down 22.3% compared to the same quarter last year. On average, equities research analysts predict that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on TPH shares. Wall Street Zen raised Tri Pointe Homes from a "sell" rating to a "hold" rating in a report on Saturday, August 30th. Wolfe Research downgraded Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a report on Sunday, July 27th. 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. Finally, Wedbush reaffirmed an "outperform" rating and set a $43.00 price target on shares of Tri Pointe Homes in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $40.25.

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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