Empowered Funds LLC Sells 24,416 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Empowered Funds LLC lowered its position in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 24.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 74,930 shares of the construction company's stock after selling 24,416 shares during the quarter. Empowered Funds LLC owned 0.08% of Tri Pointe Homes worth $2,717,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Tri Pointe Homes by 9.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 8,472 shares of the construction company's stock worth $307,000 after acquiring an additional 700 shares during the period. Highland Capital Management LLC raised its holdings in shares of Tri Pointe Homes by 6.7% in the 4th quarter. Highland Capital Management LLC now owns 5,852 shares of the construction company's stock worth $212,000 after buying an additional 368 shares in the last quarter. Mount Yale Investment Advisors LLC raised its holdings in shares of Tri Pointe Homes by 21.3% in the 4th quarter. Mount Yale Investment Advisors LLC now owns 7,237 shares of the construction company's stock worth $262,000 after buying an additional 1,272 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of Tri Pointe Homes in the 4th quarter worth approximately $118,407,000. Finally, KBC Group NV raised its holdings in shares of Tri Pointe Homes by 65.9% in the 4th quarter. KBC Group NV now owns 4,254 shares of the construction company's stock worth $154,000 after buying an additional 1,690 shares in the last quarter. Institutional investors own 97.01% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada dropped their target price on Tri Pointe Homes from $48.00 to $45.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Oppenheimer dropped their target price on Tri Pointe Homes from $56.00 to $53.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Wedbush reissued a "neutral" rating and issued a $42.00 target price on shares of Tri Pointe Homes in a report on Thursday, October 24th. Finally, StockNews.com cut Tri Pointe Homes from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Three 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 has a consensus rating of "Moderate Buy" and a consensus price target of $45.75.

Tri Pointe Homes Price Performance

TPH stock traded up $0.19 during midday trading on Monday, reaching $36.17. 586,421 shares of the company's stock traded hands, compared to its average volume of 660,455. The company has a 50-day simple moving average of $36.98 and a two-hundred day simple moving average of $40.90. Tri Pointe Homes, Inc. has a 1-year low of $33.24 and a 1-year high of $47.78. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 7.50, a PEG ratio of 0.59 and a beta of 1.64. 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 declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 7.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Insider Activity at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of the firm'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 transaction, the chief operating officer now owns 708,159 shares of the company's stock, valued at approximately $27,724,424.85. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.00% of the company's stock.

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.