Prudential Financial Inc. Lowers Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Prudential Financial Inc. cut its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 10.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 159,185 shares of the construction company's stock after selling 18,360 shares during the quarter. Prudential Financial Inc. owned about 0.17% of Tri Pointe Homes worth $5,772,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. HighTower Advisors LLC purchased a new stake in Tri Pointe Homes in the fourth quarter valued at approximately $5,553,000. Geode Capital Management LLC raised its holdings in shares of Tri Pointe Homes by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company's stock valued at $112,644,000 after buying an additional 76,830 shares during the period. Principal Financial Group Inc. lifted its stake in Tri Pointe Homes by 3.5% during the 4th quarter. Principal Financial Group Inc. now owns 486,100 shares of the construction company's stock worth $17,626,000 after acquiring an additional 16,380 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in Tri Pointe Homes by 2.5% during 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, New York State Teachers Retirement System grew its position in Tri Pointe Homes by 15.3% in the 4th quarter. New York State Teachers Retirement System now owns 67,505 shares of the construction company's stock valued at $2,448,000 after acquiring an additional 8,948 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

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Tri Pointe Homes Stock Performance

Shares of TPH traded up $0.25 during midday trading on Wednesday, reaching $32.46. 579,613 shares of the stock were exchanged, compared to its average volume of 856,940. Tri Pointe Homes, Inc. has a twelve month low of $30.25 and a twelve month high of $47.78. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64. The company has a market capitalization of $2.98 billion, a price-to-earnings ratio of 6.72, a PEG ratio of 0.67 and a beta of 1.71. The business's 50-day moving average price is $33.65 and its 200 day moving average price is $38.49.

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

Tri Pointe Homes announced that its board has approved a stock buyback plan on Wednesday, December 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 7.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TPH shares. Seaport Res Ptn raised Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research report on Thursday, March 6th. Royal Bank of Canada downgraded Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Evercore ISI decreased their price objective on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Oppenheimer cut 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 research note on Wednesday, February 19th. Finally, Wedbush reaffirmed a "neutral" rating and issued a $38.00 target price (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. 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. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $40.60.

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.