Horizon Kinetics Asset Management LLC lowered its stake in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 11.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 124,012 shares of the construction company's stock after selling 16,000 shares during the period. Horizon Kinetics Asset Management LLC owned approximately 0.13% of Tri Pointe Homes worth $4,497,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in Tri Pointe Homes by 84.4% during the fourth 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 in the last quarter. Assetmark Inc. lifted its holdings in shares of Tri Pointe Homes by 19.6% during the 4th quarter. Assetmark Inc. now owns 1,827 shares of the construction company's stock worth $66,000 after acquiring an additional 300 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Tri Pointe Homes by 562.1% during the 4th 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 in the last quarter. Nisa Investment Advisors LLC increased its stake in Tri Pointe Homes by 51.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company's stock valued at $84,000 after acquiring an additional 789 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new position in Tri Pointe Homes during the third quarter valued at approximately $184,000. Institutional investors and hedge funds own 97.01% of the company's stock.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the company. Evercore ISI reduced their target price on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. StockNews.com lowered Tri Pointe Homes from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Oppenheimer lowered their target price on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada cut shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and dropped their target price for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Finally, Wedbush reaffirmed a "neutral" rating and set a $38.00 price target (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $40.60.
Check Out Our Latest Report on Tri Pointe Homes
Tri Pointe Homes Price Performance
TPH traded down $0.61 on Friday, reaching $31.37. The stock had a trading volume of 3,404,398 shares, compared to its average volume of 805,944. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 6.49, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. Tri Pointe Homes, Inc. has a fifty-two week low of $30.25 and a fifty-two week high of $47.78. The firm has a 50-day moving average of $34.35 and a 200-day moving average of $39.15.
Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $1.22 billion. As a group, sell-side analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.
Tri Pointe Homes announced that its board has authorized a share buyback plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's leadership believes its stock is undervalued.
Tri Pointe Homes Company Profile
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Free Report)
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.
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