Jane Street Group LLC Lowers Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Jane Street Group LLC trimmed its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 22.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 171,625 shares of the construction company's stock after selling 49,074 shares during the quarter. Jane Street Group LLC owned about 0.18% of Tri Pointe Homes worth $7,776,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of TPH. Assenagon Asset Management S.A. grew its stake in Tri Pointe Homes by 260.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company's stock worth $64,216,000 after buying an additional 1,024,425 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Tri Pointe Homes by 11.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,165,651 shares of the construction company's stock worth $52,816,000 after acquiring an additional 115,099 shares in the last quarter. Millennium Management LLC grew its stake in shares of Tri Pointe Homes by 14.1% during the second quarter. Millennium Management LLC now owns 925,498 shares of the construction company's stock worth $34,475,000 after acquiring an additional 114,244 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Tri Pointe Homes by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company's stock valued at $34,135,000 after acquiring an additional 31,041 shares in the last quarter. Finally, Fisher Asset Management LLC raised its position in shares of Tri Pointe Homes by 0.8% in the 3rd quarter. Fisher Asset Management LLC now owns 725,537 shares of the construction company's stock valued at $32,874,000 after purchasing an additional 6,079 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on the stock. Royal Bank of Canada dropped their target price on shares of Tri Pointe Homes from $48.00 to $45.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. 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 report on Tuesday, September 17th. Wedbush restated a "neutral" rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Finally, Oppenheimer lowered their price target on 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. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $45.75.

Tri Pointe Homes Stock Performance

Shares of NYSE:TPH traded down $1.05 during midday trading on Friday, reaching $39.03. The company's stock had a trading volume of 599,938 shares, compared to its average volume of 877,913. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average of $42.49 and a 200 day moving average of $41.84. Tri Pointe Homes, Inc. has a twelve month low of $32.63 and a twelve month high of $47.78. The firm has a market capitalization of $3.65 billion, a PE ratio of 8.10, a P/E/G ratio of 0.66 and a beta of 1.60.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.11. The company 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 firm's revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period last year, the firm earned $0.76 EPS. On average, equities analysts expect that Tri Pointe Homes, Inc. will post 4.72 EPS for the current fiscal year.

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.