Martingale Asset Management L P Has $1.68 Million Stock Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Martingale Asset Management L P grew its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 43.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,261 shares of the construction company's stock after buying an additional 14,087 shares during the period. Martingale Asset Management L P's holdings in Tri Pointe Homes were worth $1,677,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC raised its stake in shares of Tri Pointe Homes by 8.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 3,563 shares of the construction company's stock worth $126,000 after buying an additional 287 shares in the last quarter. Assetmark Inc. grew its holdings in Tri Pointe Homes by 19.6% during the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company's stock worth $66,000 after acquiring an additional 300 shares during the period. Hillsdale Investment Management Inc. raised its position in Tri Pointe Homes by 0.3% in the fourth quarter. Hillsdale Investment Management Inc. now owns 99,800 shares of the construction company's stock worth $3,619,000 after acquiring an additional 340 shares in the last quarter. Highland Capital Management LLC lifted its holdings in Tri Pointe Homes by 6.7% in the 4th quarter. Highland Capital Management LLC now owns 5,852 shares of the construction company's stock valued at $212,000 after acquiring an additional 368 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in shares of Tri Pointe Homes by 7.4% in the 4th quarter. Park Avenue Securities LLC now owns 6,412 shares of the construction company's stock worth $232,000 after purchasing an additional 444 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on TPH shares. 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. Royal Bank of Canada downgraded Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $41.00 to $37.00 in a research report on Wednesday, February 19th. Wedbush restated a "neutral" rating and issued a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Oppenheimer reduced their target price on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Finally, Evercore ISI dropped their price target on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Tri Pointe Homes currently has an average rating of "Moderate Buy" and an average target price of $40.60.

Tri Pointe Homes Stock Up 2.1 %

Shares of TPH stock traded up $0.61 on Thursday, reaching $29.67. 495,022 shares of the company's stock traded hands, compared to its average volume of 870,996. The business's 50 day moving average price is $31.83 and its two-hundred day moving average price is $37.29. The company has a market capitalization of $2.72 billion, a P/E ratio of 6.14, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24. 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 posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The business had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.22 billion. On average, equities analysts forecast that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes announced that its board has authorized a share buyback program on Wednesday, December 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to repurchase up to 7.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

About Tri Pointe Homes

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.