Renaissance Technologies LLC Sells 14,900 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Renaissance Technologies LLC cut its position in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 4.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 362,236 shares of the construction company's stock after selling 14,900 shares during the quarter. Renaissance Technologies LLC owned about 0.39% of Tri Pointe Homes worth $13,135,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of TPH. MML Investors Services LLC acquired a new stake in Tri Pointe Homes during the third quarter worth approximately $246,000. Barclays PLC increased its stake in shares of Tri Pointe Homes by 103.7% in the 3rd quarter. Barclays PLC now owns 209,239 shares of the construction company's stock valued at $9,480,000 after purchasing an additional 106,543 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Tri Pointe Homes by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company's stock worth $112,644,000 after buying an additional 76,830 shares in the last quarter. Virtu Financial LLC bought a new stake in shares of Tri Pointe Homes during the 3rd quarter worth $343,000. Finally, Franklin Resources Inc. grew its position in Tri Pointe Homes by 1.4% in the third quarter. Franklin Resources Inc. now owns 712,673 shares of the construction company's stock valued at $31,971,000 after acquiring an additional 9,542 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Wall Street Analyst Weigh In

TPH has been the topic of a number of research analyst reports. Oppenheimer reduced their price target on shares of Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Evercore ISI dropped their price target on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Wedbush restated a "neutral" rating and issued a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. 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. Finally, Royal Bank of Canada downgraded Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and decreased their price target for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Tri Pointe Homes currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.60.

Tri Pointe Homes Stock Down 1.7 %

TPH stock traded down $0.51 during trading on Monday, reaching $29.06. The stock had a trading volume of 40,470 shares, compared to its average volume of 867,625. Tri Pointe Homes, Inc. has a one year low of $27.90 and a one year high of $47.78. The company's 50 day moving average is $31.58 and its two-hundred day moving average is $36.97. The company has a market capitalization of $2.67 billion, a price-to-earnings ratio of 6.02, a P/E/G ratio of 0.67 and a beta of 1.44. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.07. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. Equities research analysts forecast that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

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.