Edgestream Partners L.P. Purchases 24,739 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Edgestream Partners L.P. increased its position in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 20.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,464 shares of the construction company's stock after buying an additional 24,739 shares during the period. Edgestream Partners L.P. owned 0.16% of Tri Pointe Homes worth $5,311,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TPH. Smartleaf Asset Management LLC increased its holdings in shares of Tri Pointe Homes by 84.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company's stock worth $49,000 after buying an additional 613 shares during the last quarter. Assetmark Inc. grew its position in Tri Pointe Homes by 19.6% in the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company's stock worth $66,000 after acquiring an additional 300 shares in the last quarter. Venturi Wealth Management LLC increased its stake in Tri Pointe Homes by 562.1% during the fourth quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company's stock worth $81,000 after acquiring an additional 1,900 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Tri Pointe Homes by 51.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company's stock valued at $84,000 after purchasing an additional 789 shares during the period. Finally, Truvestments Capital LLC bought a new stake in shares of Tri Pointe Homes in the 3rd quarter valued at approximately $184,000. 97.01% of the stock is owned by institutional investors.

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Tri Pointe Homes Trading Down 1.8 %

TPH stock traded down $0.59 during trading on Wednesday, hitting $31.82. The company had a trading volume of 761,248 shares, compared to its average volume of 899,097. The firm has a market capitalization of $2.92 billion, a P/E ratio of 6.59, a PEG ratio of 0.67 and a beta of 1.71. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. Tri Pointe Homes, Inc. has a 52-week low of $30.25 and a 52-week high of $47.78. The company has a 50 day simple moving average of $34.93 and a 200-day simple moving average of $39.71.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. As a group, research analysts forecast 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 share repurchase program on Wednesday, December 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TPH shares. Royal Bank of Canada downgraded 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 report on Wednesday, February 19th. 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. Seaport Res Ptn raised shares of Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Evercore ISI dropped their price target on shares of 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. Finally, 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 report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Tri Pointe Homes currently has an average rating of "Moderate Buy" and an average target price of $40.60.

Insider Transactions at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the company's stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 708,159 shares of the company's stock, valued at $27,724,424.85. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.50% of the company's stock.

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.