EFG Asset Management North America Corp. Purchases 27,336 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

EFG Asset Management North America Corp. increased its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 58.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,844 shares of the construction company's stock after buying an additional 27,336 shares during the period. EFG Asset Management North America Corp. owned about 0.08% of Tri Pointe Homes worth $2,677,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Pacer Advisors Inc. bought a new stake in Tri Pointe Homes during the fourth quarter valued at approximately $118,407,000. Raymond James Financial Inc. bought a new stake in Tri Pointe Homes during the fourth quarter worth about $13,342,000. Weiss Asset Management LP purchased a new position in shares of Tri Pointe Homes in the 3rd quarter worth about $16,066,000. Boston Partners bought a new position in shares of Tri Pointe Homes during the 4th quarter valued at about $8,888,000. Finally, American Century Companies Inc. raised its holdings in shares of Tri Pointe Homes by 14.0% during the 4th quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company's stock valued at $70,579,000 after buying an additional 238,807 shares in the last quarter. Institutional investors own 97.01% of the company's stock.

Tri Pointe Homes Stock Performance

Shares of NYSE TPH traded down $0.76 during midday trading on Friday, hitting $31.88. 890,474 shares of the stock traded hands, compared to its average volume of 856,702. Tri Pointe Homes, Inc. has a one year low of $30.25 and a one year high of $47.78. The firm has a market capitalization of $2.92 billion, a P/E ratio of 6.60, a PEG ratio of 0.67 and a beta of 1.71. The firm has a 50-day moving average of $33.86 and a two-hundred day moving average of $38.68. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24.

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Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 EPS 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 for the quarter, compared to the consensus estimate of $1.22 billion. On average, equities analysts forecast that Tri Pointe Homes, Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has initiated a stock buyback program on Wednesday, December 18th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the construction company to repurchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TPH shares. Oppenheimer reduced their price target 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. Royal Bank of Canada lowered shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and reduced their target price for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. StockNews.com downgraded shares of Tri Pointe Homes from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Evercore ISI reduced their price objective on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Finally, Wedbush reaffirmed a "neutral" rating and set a $38.00 price objective (down from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Four investment 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 stock. According to MarketBeat, Tri Pointe Homes has an average rating of "Moderate Buy" and a consensus price target of $40.60.

Tri Pointe Homes Profile

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.