Canada Pension Plan Investment Board Boosts Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Canada Pension Plan Investment Board grew its position in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 955.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 51,700 shares of the construction company's stock after buying an additional 46,800 shares during the quarter. Canada Pension Plan Investment Board owned 0.06% of Tri Pointe Homes worth $1,875,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC purchased a new position in Tri Pointe Homes during the 4th quarter valued at about $5,553,000. Principal Financial Group Inc. grew its position in shares of Tri Pointe Homes by 3.5% in the fourth quarter. Principal Financial Group Inc. now owns 486,100 shares of the construction company's stock valued at $17,626,000 after purchasing an additional 16,380 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Tri Pointe Homes by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 1,138,547 shares of the construction company's stock worth $41,284,000 after purchasing an additional 27,691 shares in the last quarter. GW&K Investment Management LLC raised its position in shares of Tri Pointe Homes by 5.3% during the 4th quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company's stock worth $73,850,000 after purchasing an additional 102,187 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Tri Pointe Homes in the 4th quarter valued at approximately $13,342,000. Institutional investors and hedge funds own 97.01% of the company's stock.

Analyst Upgrades and Downgrades

TPH has been the subject of several recent research reports. 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 objective (down previously from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Oppenheimer reduced their price objective 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 decreased their price objective on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Finally, Royal Bank of Canada lowered 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 research note on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Tri Pointe Homes currently has an average rating of "Moderate Buy" and a consensus target price of $40.60.

Tri Pointe Homes Trading Down 0.3 %

Shares of TPH opened at $30.83 on Thursday. Tri Pointe Homes, Inc. has a twelve month low of $27.90 and a twelve month high of $47.78. The firm has a market capitalization of $2.83 billion, a P/E ratio of 6.38, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The stock's fifty day simple moving average is $31.25 and its 200 day simple moving average is $36.78.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its quarterly earnings data 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 return on equity of 14.34% and a net margin of 10.36%. On average, equities research analysts forecast that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

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.

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