Connor Clark & Lunn Investment Management Ltd. lowered its stake in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 52.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,636 shares of the construction company's stock after selling 83,217 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.08% of Tri Pointe Homes worth $2,743,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of TPH. Atria Investments Inc increased its stake in Tri Pointe Homes by 30.0% in the 3rd quarter. Atria Investments Inc now owns 15,839 shares of the construction company's stock worth $718,000 after purchasing an additional 3,653 shares in the last quarter. GSA Capital Partners LLP grew its stake in Tri Pointe Homes by 4.4% during the 3rd quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company's stock valued at $280,000 after acquiring an additional 258 shares in the last quarter. Victory Capital Management Inc. grew its stake in Tri Pointe Homes by 3.7% during the 3rd quarter. Victory Capital Management Inc. now owns 282,612 shares of the construction company's stock valued at $12,805,000 after acquiring an additional 10,116 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in Tri Pointe Homes by 80.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 26,042 shares of the construction company's stock valued at $1,180,000 after acquiring an additional 11,649 shares in the last quarter. Finally, OneDigital Investment Advisors LLC purchased a new position in Tri Pointe Homes during the 3rd quarter valued at about $217,000. Hedge funds and other institutional investors own 97.01% of the company's stock.
Tri Pointe Homes Stock Performance
TPH traded down $0.61 on Friday, hitting $31.37. The company had a trading volume of 3,404,398 shares, compared to its average volume of 805,944. The company's fifty day moving average price is $34.35 and its 200 day moving average price is $39.15. Tri Pointe Homes, Inc. has a 1-year low of $30.25 and a 1-year 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. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 6.49, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71.
Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted 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. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Equities analysts predict 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 authorized a stock buyback program 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 stock through open market purchases. Stock repurchase programs are often an indication that the company's board believes its shares are undervalued.
Analyst Ratings Changes
Several equities analysts have weighed in on the company. Royal Bank of Canada cut Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and lowered their target price for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. Wedbush reiterated a "neutral" rating and set a $38.00 price target (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Oppenheimer reduced their price target on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Evercore ISI reduced their price target on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Finally, StockNews.com lowered Tri Pointe Homes from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Four 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's stock. According to MarketBeat, Tri Pointe Homes has a consensus rating of "Moderate Buy" and an average price target of $40.60.
View Our Latest Report on Tri Pointe Homes
Tri Pointe Homes Profile
(
Free Report)
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.
Further Reading
Before you consider Tri Pointe Homes, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Tri Pointe Homes wasn't on the list.
While Tri Pointe Homes currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
