JPMorgan Chase & Co. Sells 122,225 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

JPMorgan Chase & Co. lowered its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 17.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 576,780 shares of the construction company's stock after selling 122,225 shares during the quarter. JPMorgan Chase & Co. owned about 0.62% of Tri Pointe Homes worth $26,134,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GSA Capital Partners LLP increased its position in shares of Tri Pointe Homes by 4.4% during the 3rd quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company's stock worth $280,000 after purchasing an additional 258 shares during the last quarter. Empowered Funds LLC boosted its stake in Tri Pointe Homes by 0.3% during the 3rd quarter. Empowered Funds LLC now owns 99,346 shares of the construction company's stock worth $4,501,000 after purchasing an additional 265 shares during the period. Evergreen Capital Management LLC increased its holdings in shares of Tri Pointe Homes by 7.1% in the second quarter. Evergreen Capital Management LLC now owns 7,863 shares of the construction company's stock valued at $293,000 after purchasing an additional 519 shares during the period. First Trust Direct Indexing L.P. boosted its holdings in Tri Pointe Homes by 9.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,266 shares of the construction company's stock valued at $284,000 after purchasing an additional 541 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of Tri Pointe Homes by 33.5% in the 3rd quarter. Blue Trust Inc. now owns 2,368 shares of the construction company's stock valued at $107,000 after purchasing an additional 594 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

Insider Buying and Selling at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the firm's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $39.15, for a total value of $3,029,583.60. Following the completion of the transaction, the chief operating officer now owns 708,159 shares of the company's stock, valued at approximately $27,724,424.85. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.50% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Zelman & Associates upgraded shares of Tri Pointe Homes from an "underperform" rating to a "neutral" rating and set a $43.00 target price on the stock in a research report on Tuesday, September 17th. Wedbush reiterated a "neutral" rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday, October 24th. Royal Bank of Canada cut their price target on shares of Tri Pointe Homes from $48.00 to $45.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. StockNews.com cut shares of Tri Pointe Homes from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Finally, Oppenheimer dropped their target price on Tri Pointe Homes from $56.00 to $53.00 and set an "outperform" rating on the stock in a research report on Friday, October 25th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $45.75.

Tri Pointe Homes Stock Performance

TPH traded up $0.31 during trading on Wednesday, reaching $35.41. 622,973 shares of the company's stock were exchanged, compared to its average volume of 659,495. The company has a market capitalization of $3.31 billion, a P/E ratio of 7.35, a PEG ratio of 0.64 and a beta of 1.64. The business has a 50 day moving average price of $40.16 and a 200 day moving average price of $41.76. 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 quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28.

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

Tri Pointe Homes announced that its board has initiated a stock repurchase plan on Wednesday, December 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are 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.