Tri Pointe Homes, Inc. (NYSE:TPH) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership trimmed its position in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 20.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,194,271 shares of the construction company's stock after selling 302,763 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.28% of Tri Pointe Homes worth $43,304,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Cornercap Investment Counsel Inc. bought a new stake in Tri Pointe Homes during the fourth quarter valued at $369,000. Pictet Asset Management Holding SA grew its position in shares of Tri Pointe Homes by 19.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 14,815 shares of the construction company's stock valued at $537,000 after buying an additional 2,427 shares during the last quarter. New Age Alpha Advisors LLC acquired a new stake in Tri Pointe Homes during the fourth quarter worth about $118,000. Norges Bank acquired a new stake in Tri Pointe Homes during the fourth quarter worth about $14,815,000. Finally, JPMorgan Chase & Co. lifted its holdings in Tri Pointe Homes by 27.4% in the fourth quarter. JPMorgan Chase & Co. now owns 735,026 shares of the construction company's stock worth $26,652,000 after acquiring an additional 158,246 shares during the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Tri Pointe Homes Stock Performance

Shares of NYSE TPH traded up $1.07 during midday trading on Friday, reaching $31.73. 1,565,500 shares of the company traded hands, compared to its average volume of 861,542. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 6.57, a PEG ratio of 0.67 and a beta of 1.44. The stock has a 50-day moving average price of $33.30 and a 200 day moving average price of $38.22. Tri Pointe Homes, Inc. has a 52 week low of $29.91 and a 52 week high of $47.78. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64.

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Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS 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%. Sell-side analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 18th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on TPH. Wedbush reaffirmed a "neutral" rating and set a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Evercore ISI lowered their price objective 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. Royal Bank of Canada cut Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and cut their target price for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. Oppenheimer lowered their price target on shares of Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Finally, StockNews.com downgraded shares of Tri Pointe Homes from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.60.

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.