Vanguard Group Inc. Sells 957,237 Shares of Tri Pointe Homes Inc. $TPH

Vanguard Group Inc. decreased its position in shares of Tri Pointe Homes Inc. (NYSE:TPH) by 9.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,630,636 shares of the construction company’s stock after selling 957,237 shares during the quarter. Vanguard Group Inc. owned about 11.20% of Tri Pointe Homes worth $327,153,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Tri Pointe Homes by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,008,454 shares of the construction company’s stock valued at $34,257,000 after acquiring an additional 130,855 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in Tri Pointe Homes by 6.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,214 shares of the construction company’s stock valued at $347,000 after buying an additional 604 shares during the last quarter. HighTower Advisors LLC lifted its position in Tri Pointe Homes by 11.4% during the third quarter. HighTower Advisors LLC now owns 234,103 shares of the construction company’s stock worth $7,952,000 after acquiring an additional 23,999 shares during the last quarter. MQS Management LLC boosted its holdings in shares of Tri Pointe Homes by 66.2% during the third quarter. MQS Management LLC now owns 13,875 shares of the construction company’s stock worth $471,000 after acquiring an additional 5,527 shares during the period. Finally, Savant Capital LLC grew its position in shares of Tri Pointe Homes by 5.5% in the third quarter. Savant Capital LLC now owns 26,145 shares of the construction company’s stock valued at $888,000 after purchasing an additional 1,363 shares during the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Tri Pointe Homes

In other news, Director Steven J. Gilbert sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $46.33, for a total transaction of $2,316,500.00. Following the completion of the transaction, the director directly owned 30,330 shares of the company’s stock, valued at $1,405,188.90. The trade was a 62.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.70% of the stock is owned by corporate insiders.

Tri Pointe Homes Price Performance

Shares of NYSE:TPH opened at $46.31 on Friday. Tri Pointe Homes Inc. has a 12 month low of $27.90 and a 12 month high of $46.62. The company has a 50 day moving average of $36.53 and a 200 day moving average of $34.56. The stock has a market cap of $3.98 billion, a P/E ratio of 17.03, a P/E/G ratio of 1.38 and a beta of 1.39. The company has a current ratio of 2.63, a quick ratio of 2.01 and a debt-to-equity ratio of 0.33.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Wednesday, February 25th. The construction company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. The company had revenue of $972.63 million during the quarter, compared to analyst estimates of $917.86 million. Tri Pointe Homes had a net margin of 7.09% and a return on equity of 7.96%. The firm’s revenue was down 22.5% compared to the same quarter last year. During the same period in the prior year, the business posted $1.37 EPS. As a group, sell-side analysts forecast that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tri Pointe Homes in a report on Tuesday, January 27th. Citigroup started coverage on shares of Tri Pointe Homes in a report on Wednesday, January 7th. They set an “outperform” rating on the stock. Citizens Jmp began coverage on shares of Tri Pointe Homes in a report on Wednesday, January 7th. They set a “market outperform” rating and a $46.00 price target for the company. Oppenheimer cut Tri Pointe Homes from an “outperform” rating to a “market perform” rating in a research report on Friday, February 13th. Finally, Royal Bank Of Canada boosted their target price on shares of Tri Pointe Homes from $31.00 to $47.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 17th. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $42.50.

Tri Pointe Homes Profile

Tri Pointe Homes, Inc (NYSE: TPH) is a national homebuilder engaged in the acquisition, development, construction, marketing and sale of single-family detached homes and attached products. The company’s operations span a range of new residential communities, offering customizable floor plans in both tract and luxury segments. Its integrated business model encompasses land sourcing, entitlement, design, construction oversight and in-house customer care and warranty service.

Founded in 2009 through the combination of three regional builders, Tri Pointe Homes has grown into a prominent player across key western U.S.