Tri Pointe Homes, Inc. (NYSE:TPH) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 6.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 469,720 shares of the construction company's stock after selling 30,760 shares during the period. Principal Financial Group Inc. owned 0.50% of Tri Pointe Homes worth $21,283,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. GSA Capital Partners LLP increased its holdings in shares of Tri Pointe Homes by 4.4% in the 3rd quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company's stock valued at $280,000 after acquiring an additional 258 shares during the last quarter. Empowered Funds LLC boosted its holdings in Tri Pointe Homes by 0.3% in the third quarter. Empowered Funds LLC now owns 99,346 shares of the construction company's stock valued at $4,501,000 after purchasing an additional 265 shares in the last quarter. Evergreen Capital Management LLC increased its stake in 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 last quarter. First Trust Direct Indexing L.P. raised its holdings in Tri Pointe Homes by 9.4% during the third quarter. First Trust Direct Indexing L.P. now owns 6,266 shares of the construction company's stock worth $284,000 after purchasing an additional 541 shares in the last quarter. Finally, Blue Trust Inc. boosted 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 buying an additional 594 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of the company's stock in a transaction on 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 represents a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.00% of the company's stock.

Tri Pointe Homes Stock Performance

TPH traded down $0.25 on Thursday, hitting $36.91. 574,830 shares of the company traded hands, compared to its average volume of 897,312. Tri Pointe Homes, Inc. has a 12-month low of $33.24 and a 12-month high of $47.78. The company has a 50 day moving average of $41.38 and a 200-day moving average of $41.82. 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 market capitalization of $3.45 billion, a PE ratio of 7.66, a PEG ratio of 0.64 and a beta of 1.60.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, topping the consensus estimate 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 business had revenue of $1.11 billion during the quarter, compared to analysts' expectations of $1.05 billion. During the same quarter in the prior year, the business earned $0.76 earnings per share. The company's quarterly revenue was up 34.9% compared to the same quarter last year. Sell-side analysts anticipate that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current year.

Tri Pointe Homes declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently commented on TPH. Wedbush reiterated a "neutral" rating and set a $42.00 price target on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Oppenheimer reduced their target price on Tri Pointe Homes from $56.00 to $53.00 and set an "outperform" rating for the company in a report on Friday, October 25th. Royal Bank of Canada decreased their target price on Tri Pointe Homes from $48.00 to $45.00 and set an "outperform" rating for the company in a research report on Friday, October 25th. Zelman & Associates raised Tri Pointe Homes from an "underperform" rating to a "neutral" rating and set a $43.00 price target on the stock in a research report on Tuesday, September 17th. Finally, StockNews.com downgraded Tri Pointe Homes from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $45.75.

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.