KLP Kapitalforvaltning AS Takes Position in Tri Pointe Homes, Inc. (NYSE:TPH)

KLP Kapitalforvaltning AS purchased a new position in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 25,800 shares of the construction company's stock, valued at approximately $936,000.

A number of other hedge funds and other institutional investors have also modified their holdings of TPH. Smartleaf Asset Management LLC raised its stake in Tri Pointe Homes by 84.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company's stock valued at $49,000 after purchasing an additional 613 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Tri Pointe Homes by 19.6% in the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company's stock valued at $66,000 after buying an additional 300 shares during the period. Venturi Wealth Management LLC grew its position in Tri Pointe Homes by 562.1% during the fourth quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company's stock worth $81,000 after buying an additional 1,900 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Tri Pointe Homes by 51.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company's stock worth $84,000 after buying an additional 789 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in Tri Pointe Homes by 72.8% during the fourth quarter. Blue Trust Inc. now owns 4,093 shares of the construction company's stock valued at $148,000 after acquiring an additional 1,725 shares during the period. Institutional investors own 97.01% of the company's stock.

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Tri Pointe Homes Stock Up 0.8 %

Shares of NYSE:TPH traded up $0.25 during midday trading on Wednesday, hitting $32.46. The stock had a trading volume of 579,613 shares, compared to its average volume of 855,654. The company has a market cap of $2.98 billion, a P/E ratio of 6.72, a PEG ratio of 0.67 and a beta of 1.71. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The business's 50-day simple moving average is $33.65 and its 200-day simple moving average is $38.49. Tri Pointe Homes, Inc. has a 12 month low of $30.25 and a 12 month high of $47.78.

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 for the quarter, topping the consensus estimate of $1.30 by $0.07. The business had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. On average, sell-side analysts forecast that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its board has authorized a stock repurchase program on Wednesday, December 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to repurchase up to 7.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on TPH shares. Wedbush reiterated a "neutral" rating and set a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Oppenheimer cut 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. 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. Royal Bank of Canada lowered shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. Finally, Evercore ISI decreased their price objective 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. Four research 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 MarketBeat, Tri Pointe Homes has a consensus rating of "Moderate Buy" and a consensus price target of $40.60.

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.