Geode Capital Management LLC Increases Stock Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Geode Capital Management LLC increased its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 3.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,485,663 shares of the construction company's stock after purchasing an additional 76,830 shares during the quarter. Geode Capital Management LLC owned approximately 2.66% of Tri Pointe Homes worth $112,644,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TPH. Barclays PLC grew its stake in Tri Pointe Homes by 103.7% in the third quarter. Barclays PLC now owns 209,239 shares of the construction company's stock valued at $9,480,000 after purchasing an additional 106,543 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Tri Pointe Homes by 134.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,941 shares of the construction company's stock valued at $949,000 after buying an additional 12,009 shares during the last quarter. MML Investors Services LLC bought a new position in shares of Tri Pointe Homes in the third quarter valued at $246,000. Orion Portfolio Solutions LLC increased its holdings in Tri Pointe Homes by 73.8% during the third quarter. Orion Portfolio Solutions LLC now owns 31,107 shares of the construction company's stock worth $1,409,000 after buying an additional 13,210 shares during the last quarter. Finally, XTX Topco Ltd bought a new stake in Tri Pointe Homes during the third quarter worth $645,000. Institutional investors own 97.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TPH. StockNews.com cut Tri Pointe Homes from a "buy" rating to a "hold" rating in a research note on Tuesday. Zelman & Associates raised shares of Tri Pointe Homes from an "underperform" rating to a "neutral" rating and set a $43.00 price objective on the stock in a research report on Tuesday, September 17th. Royal Bank of Canada reduced their target price on shares of Tri Pointe Homes from $48.00 to $45.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Wedbush reiterated a "neutral" rating and issued a $42.00 price target on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Finally, Oppenheimer cut their price objective on shares of Tri Pointe Homes from $56.00 to $53.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Three investment 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's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $45.75.

Tri Pointe Homes Trading Down 3.6 %

NYSE:TPH traded down $1.37 during mid-day trading on Wednesday, hitting $36.81. 1,014,697 shares of the company's stock were exchanged, compared to its average volume of 877,989. Tri Pointe Homes, Inc. has a fifty-two week low of $33.24 and a fifty-two week high of $47.78. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $3.45 billion, a P/E ratio of 7.64, a PEG ratio of 0.64 and a beta of 1.60. The company has a 50 day simple moving average of $42.29 and a 200-day simple moving average of $41.90.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its earnings results on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.07 by $0.11. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.05 billion. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. The business's quarterly revenue was up 34.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.76 EPS. As a group, research analysts expect that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current year.

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 that occurred on Monday, December 16th. The shares were sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the completion of the sale, the chief operating officer now owns 708,159 shares of the company's stock, valued at $27,724,424.85. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 2.00% of the stock is owned by company insiders.

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.