Wellington Management Group LLP Cuts Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Wellington Management Group LLP lessened its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 7.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 629,344 shares of the construction company's stock after selling 50,963 shares during the period. Wellington Management Group LLP owned 0.69% of Tri Pointe Homes worth $22,820,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Castlekeep Investment Advisors LLC purchased a new position in shares of Tri Pointe Homes in the fourth quarter valued at $60,261,000. Norges Bank bought a new position in Tri Pointe Homes during the fourth quarter valued at $14,815,000. Raymond James Financial Inc. purchased a new position in shares of Tri Pointe Homes in the 4th quarter worth $13,342,000. Boston Partners bought a new stake in Tri Pointe Homes during the fourth quarter worth approximately $8,888,000. Finally, American Century Companies Inc. increased its stake in Tri Pointe Homes by 14.0% during the fourth quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company's stock worth $70,579,000 after acquiring an additional 238,807 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

Tri Pointe Homes Trading Up 2.2%

Shares of TPH traded up $0.65 during trading hours on Wednesday, reaching $30.49. 769,162 shares of the company traded hands, compared to its average volume of 908,037. The stock's fifty day moving average price is $30.53 and its 200 day moving average price is $34.31. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The firm has a market cap of $2.76 billion, a price-to-earnings ratio of 6.31, a PEG ratio of 0.67 and a beta of 1.34. Tri Pointe Homes, Inc. has a 12-month low of $27.90 and a 12-month high of $47.78.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The construction company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.25. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The company had revenue of $720.79 million during the quarter, compared to analysts' expectations of $713.65 million. During the same period in the previous year, the company earned $1.03 EPS. The firm's quarterly revenue was down 21.5% 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.

Insider Buying and Selling

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 transaction of $3,626,653.05. Following the transaction, the chief executive officer now owns 627,833 shares of the company's stock, valued at approximately $18,929,164.95. This trade represents a 16.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Wedbush upgraded Tri Pointe Homes from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $38.00 to $43.00 in a report on Monday, April 28th. Oppenheimer dropped their price objective on shares of Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Evercore ISI cut their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada downgraded shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. Finally, Seaport Res Ptn raised shares of Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $41.60.

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.