William Blair Investment Management LLC Reduces Holdings in Tri Pointe Homes Inc. $TPH

Key Points

• William Blair Investment Management LLC reduced its holdings in Tri Pointe Homes Inc. by 7.7%, now owning 1.11% of the company, valued at approximately $32 million.
• Tri Pointe Homes reported a quarterly earnings per share of $0.77, surpassing analysts' estimates of $0.66, although revenue decreased by 22.3% compared to the previous year.
• The company authorized a $50 million share buyback program, indicating confidence in its undervalued stock amidst various institutional investor activity.

William Blair Investment Management LLC cut its position in Tri Pointe Homes Inc. (NYSE:TPH - Free Report) by 7.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,004,810 shares of the construction company's stock after selling 83,470 shares during the quarter. William Blair Investment Management LLC owned 1.11% of Tri Pointe Homes worth $32,104,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. American Century Companies Inc. lifted its holdings in Tri Pointe Homes by 13.5% in the 1st quarter. American Century Companies Inc. now owns 2,209,166 shares of the construction company's stock worth $70,517,000 after buying an additional 262,695 shares in the last quarter. LSV Asset Management increased its position in shares of Tri Pointe Homes by 4.8% during the first quarter. LSV Asset Management now owns 1,762,922 shares of the construction company's stock worth $56,272,000 after acquiring an additional 80,198 shares during the last quarter. Nuveen LLC acquired a new position in shares of Tri Pointe Homes in the first quarter worth about $43,906,000. Allianz Asset Management GmbH boosted its holdings in Tri Pointe Homes by 54.8% in the first quarter. Allianz Asset Management GmbH now owns 1,255,057 shares of the construction company's stock valued at $40,061,000 after purchasing an additional 444,153 shares during the last quarter. Finally, Royce & Associates LP grew its stake in Tri Pointe Homes by 7.1% during the 1st quarter. Royce & Associates LP now owns 577,303 shares of the construction company's stock valued at $18,428,000 after purchasing an additional 38,223 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Tri Pointe Homes Price Performance

Shares of NYSE:TPH opened at $31.96 on Friday. The company has a market cap of $2.90 billion, a PE ratio of 8.13, a P/E/G ratio of 0.86 and a beta of 1.30. Tri Pointe Homes Inc. has a fifty-two week low of $27.90 and a fifty-two week high of $46.91. The firm has a 50-day simple moving average of $34.30 and a 200 day simple moving average of $32.34. 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 (NYSE:TPH - Get Free Report) last issued its earnings results on Thursday, July 24th. The construction company reported $0.77 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.11. The company had revenue of $884.01 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $1.25 earnings per share. On average, sell-side analysts anticipate that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its board has authorized 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 buy up to 1.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on TPH shares. Wall Street Zen raised Tri Pointe Homes from a "sell" rating to a "hold" rating in a research report on Saturday, August 30th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Tri Pointe Homes in a report on Wednesday, October 8th. Wedbush reissued an "outperform" rating and set a $43.00 price objective on shares of Tri Pointe Homes in a report on Friday, July 25th. Wolfe Research downgraded shares of Tri Pointe Homes from an "outperform" rating to a "peer perform" rating in a research report on Sunday, July 27th. Finally, Evercore ISI reaffirmed an "in-line" rating and set a $34.00 price target (down previously from $38.00) on shares of Tri Pointe Homes in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Tri Pointe Homes presently has an average rating of "Moderate Buy" and a consensus price target of $39.25.

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.

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