Burney Co. Purchases 24,358 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Burney Co. raised its stake in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 61.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 64,217 shares of the construction company's stock after buying an additional 24,358 shares during the quarter. Burney Co. owned 0.07% of Tri Pointe Homes worth $2,329,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new position in shares of Tri Pointe Homes in the second quarter worth $271,000. Federated Hermes Inc. increased its position in Tri Pointe Homes by 10,048.1% in the 2nd quarter. Federated Hermes Inc. now owns 35,011 shares of the construction company's stock worth $1,304,000 after purchasing an additional 34,666 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Tri Pointe Homes during the 2nd quarter worth about $536,000. Envestnet Asset Management Inc. lifted its holdings in shares of Tri Pointe Homes by 95.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 123,365 shares of the construction company's stock valued at $4,595,000 after buying an additional 60,093 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new stake in shares of Tri Pointe Homes in the 2nd quarter valued at approximately $324,000. Hedge funds and other institutional investors own 97.01% of the company's stock.

Tri Pointe Homes Stock Performance

Shares of NYSE:TPH traded up $0.12 during trading on Thursday, reaching $37.55. The stock had a trading volume of 662,627 shares, compared to its average volume of 715,903. The stock has a fifty day simple moving average of $39.42 and a two-hundred day simple moving average of $41.64. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. Tri Pointe Homes, Inc. has a 52 week low of $33.24 and a 52 week high of $47.78. The firm has a market capitalization of $3.51 billion, a price-to-earnings ratio of 7.79, a P/E/G ratio of 0.55 and a beta of 1.64.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its earnings results on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.07 by $0.11. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the firm posted $0.76 EPS. The business's quarterly revenue was up 34.9% on a year-over-year basis. As a group, analysts anticipate that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has authorized a share repurchase plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Oppenheimer cut their price objective on shares of Tri Pointe Homes from $56.00 to $53.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Wedbush restated a "neutral" rating and set a $42.00 price target on shares of Tri Pointe Homes in a report on Thursday, October 24th. StockNews.com lowered shares of Tri Pointe Homes from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Finally, Royal Bank of Canada lowered their target price on shares of Tri Pointe Homes from $48.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Three 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 stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $45.75.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $39.15, for a total value of $3,029,583.60. Following the sale, the chief operating officer now owns 708,159 shares in the company, valued at approximately $27,724,424.85. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

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.