JPMorgan Chase & Co. Boosts Position in Tri Pointe Homes, Inc. (NYSE:TPH)

JPMorgan Chase & Co. grew its holdings in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 27.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 735,026 shares of the construction company's stock after acquiring an additional 158,246 shares during the quarter. JPMorgan Chase & Co. owned 0.79% of Tri Pointe Homes worth $26,652,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of TPH. HighTower Advisors LLC purchased a new position in shares of Tri Pointe Homes in the 4th quarter valued at approximately $5,553,000. Geode Capital Management LLC lifted its stake in shares of Tri Pointe Homes by 3.2% during the third quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company's stock worth $112,644,000 after buying an additional 76,830 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Tri Pointe Homes by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 486,100 shares of the construction company's stock valued at $17,626,000 after buying an additional 16,380 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Tri Pointe Homes by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,138,547 shares of the construction company's stock valued at $41,284,000 after acquiring an additional 27,691 shares during the period. Finally, GW&K Investment Management LLC raised its stake in Tri Pointe Homes by 5.3% in the 4th quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company's stock worth $73,850,000 after acquiring an additional 102,187 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

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Wall Street Analysts Forecast Growth

Several analysts have weighed in on TPH shares. StockNews.com downgraded Tri Pointe Homes from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Evercore ISI dropped their target price on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada lowered shares of 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. Oppenheimer cut their price objective on shares of Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 19th. Finally, Seaport Res Ptn upgraded shares of Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Tri Pointe Homes has an average rating of "Moderate Buy" and an average price target of $40.60.

Tri Pointe Homes Price Performance

TPH stock traded up $0.07 during mid-day trading on Friday, reaching $29.17. 744,551 shares of the company's stock were exchanged, compared to its average volume of 871,912. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 6.04, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44. Tri Pointe Homes, Inc. has a 12-month low of $27.90 and a 12-month high of $47.78. The stock's 50 day moving average is $32.24 and its 200 day moving average is $37.52. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. On average, research analysts expect that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its Board of Directors has initiated a stock repurchase program on Wednesday, December 18th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Tri Pointe Homes Company 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.