HighTower Advisors LLC Purchases New Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

HighTower Advisors LLC acquired a new stake in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 153,133 shares of the construction company's stock, valued at approximately $5,553,000. HighTower Advisors LLC owned 0.16% of Tri Pointe Homes as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of TPH. Pacer Advisors Inc. acquired a new position in shares of Tri Pointe Homes in the 4th quarter valued at approximately $118,407,000. Raymond James Financial Inc. acquired a new position in shares of Tri Pointe Homes in the 4th quarter valued at approximately $13,342,000. Weiss Asset Management LP acquired a new position in shares of Tri Pointe Homes in the 3rd quarter valued at approximately $16,066,000. Bridgewater Associates LP grew its position in shares of Tri Pointe Homes by 476.3% in the 3rd quarter. Bridgewater Associates LP now owns 174,719 shares of the construction company's stock valued at $7,917,000 after purchasing an additional 144,403 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Tri Pointe Homes by 703.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,853 shares of the construction company's stock valued at $7,198,000 after purchasing an additional 139,079 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Oppenheimer decreased their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Wedbush reaffirmed a "neutral" rating and set a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Seaport Res Ptn raised Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. StockNews.com downgraded Tri Pointe Homes from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada downgraded Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and reduced their price target for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $40.60.

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Tri Pointe Homes Stock Down 1.9 %

NYSE:TPH traded down $0.61 during trading hours on Friday, reaching $31.37. 3,404,398 shares of the stock were exchanged, compared to its average volume of 803,996. Tri Pointe Homes, Inc. has a twelve month low of $30.25 and a twelve month high of $47.78. The stock has a market cap of $2.88 billion, a PE ratio of 6.49, a PEG ratio of 0.67 and a beta of 1.71. 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 firm has a 50 day moving average of $34.29 and a 200 day moving average of $39.03.

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

Tri Pointe Homes announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 18th that authorizes the company to buyback $250.00 million in outstanding 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 often an indication that the company's leadership believes its stock is undervalued.

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.