New York State Teachers Retirement System Has $2.45 Million Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

New York State Teachers Retirement System increased its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 15.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 67,505 shares of the construction company's stock after acquiring an additional 8,948 shares during the period. New York State Teachers Retirement System owned about 0.07% of Tri Pointe Homes worth $2,448,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TPH. Pacer Advisors Inc. acquired a new stake in Tri Pointe Homes in the 4th quarter valued at $118,407,000. Weiss Asset Management LP bought a new stake in shares of Tri Pointe Homes during the 3rd quarter worth about $16,066,000. Bridgewater Associates LP raised its stake in Tri Pointe Homes by 476.3% in the 3rd quarter. Bridgewater Associates LP now owns 174,719 shares of the construction company's stock worth $7,917,000 after purchasing an additional 144,403 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Tri Pointe Homes by 703.3% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,853 shares of the construction company's stock worth $7,198,000 after purchasing an additional 139,079 shares in the last quarter. Finally, Quantbot Technologies LP raised its stake in Tri Pointe Homes by 562.0% in the 3rd quarter. Quantbot Technologies LP now owns 147,238 shares of the construction company's stock worth $6,671,000 after purchasing an additional 124,998 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on TPH. 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 company from $41.00 to $37.00 in a research report on Wednesday. StockNews.com cut shares of Tri Pointe Homes from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Oppenheimer reduced their target price on shares of Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating on the stock in a report on Wednesday. Wedbush reissued a "neutral" rating and set a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Finally, Evercore ISI reduced their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a research note on Wednesday. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $40.60.

Tri Pointe Homes Stock Down 1.6 %

Shares of NYSE TPH opened at $30.79 on Friday. 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 company's fifty day simple moving average is $36.16 and its 200 day simple moving average is $40.56. Tri Pointe Homes, Inc. has a 12-month low of $30.25 and a 12-month high of $47.78. The firm has a market cap of $2.88 billion, a PE ratio of 6.37, a P/E/G ratio of 0.67 and a beta of 1.64.

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 for the quarter, topping the consensus estimate of $1.30 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. As a group, 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 of Directors has approved a stock repurchase program on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company's board believes its stock is undervalued.

Insider Activity at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the firm's stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the transaction, the chief operating officer now directly owns 708,159 shares of the company's stock, valued at $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 available at this link. 2.00% of the stock is owned by insiders.

About Tri Pointe Homes

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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