Alliancebernstein L.P. Sells 37,410 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Alliancebernstein L.P. cut its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 16.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 186,824 shares of the construction company's stock after selling 37,410 shares during the period. Alliancebernstein L.P. owned approximately 0.20% of Tri Pointe Homes worth $6,774,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Captrust Financial Advisors lifted its position in shares of Tri Pointe Homes by 27.6% during the 3rd quarter. Captrust Financial Advisors now owns 6,931 shares of the construction company's stock valued at $314,000 after acquiring an additional 1,499 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Tri Pointe Homes by 2.0% in the 3rd quarter. Janus Henderson Group PLC now owns 39,376 shares of the construction company's stock valued at $1,785,000 after purchasing an additional 760 shares during the period. Quantinno Capital Management LP increased its stake in Tri Pointe Homes by 7.8% in the 3rd quarter. Quantinno Capital Management LP now owns 8,204 shares of the construction company's stock worth $372,000 after purchasing an additional 596 shares in the last quarter. Wolverine Trading LLC purchased a new position in Tri Pointe Homes in the 3rd quarter worth about $308,000. Finally, National Bank of Canada FI purchased a new stake in Tri Pointe Homes during the third quarter valued at about $333,000. 97.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Evercore ISI dropped their target price 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. StockNews.com downgraded shares of Tri Pointe Homes from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Seaport Res Ptn raised Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Wedbush reiterated a "neutral" rating and set a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Finally, Oppenheimer reduced their price objective on 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. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $40.60.

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Tri Pointe Homes Stock Down 0.7 %

Shares of NYSE TPH traded down $0.20 during mid-day trading on Tuesday, reaching $29.32. The company had a trading volume of 893,429 shares, compared to its average volume of 874,066. 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 twelve month low of $27.90 and a twelve month high of $47.78. The stock's 50 day moving average is $32.10 and its 200-day moving average is $37.41. The stock has a market capitalization of $2.69 billion, a PE ratio of 6.07, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44.

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

Tri Pointe Homes announced that its board has approved a stock buyback program on Wednesday, December 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to purchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's leadership believes its stock is undervalued.

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.