Raymond James Financial Inc. Takes $13.34 Million Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Raymond James Financial Inc. purchased a new position in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 367,970 shares of the construction company's stock, valued at approximately $13,342,000. Raymond James Financial Inc. owned approximately 0.39% of Tri Pointe Homes at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TPH. Smartleaf Asset Management LLC increased its stake in Tri Pointe Homes by 84.4% in the fourth 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 period. Assetmark Inc. increased its stake in 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 purchasing an additional 300 shares during the period. Venturi Wealth Management LLC increased its stake in Tri Pointe Homes by 562.1% in the fourth quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company's stock valued at $81,000 after purchasing an additional 1,900 shares during the period. Nisa Investment Advisors LLC increased its stake in Tri Pointe Homes by 51.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company's stock valued at $84,000 after purchasing an additional 789 shares during the period. Finally, Blue Trust Inc. increased its stake in Tri Pointe Homes by 72.8% in the fourth quarter. Blue Trust Inc. now owns 4,093 shares of the construction company's stock valued at $148,000 after purchasing an additional 1,725 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

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Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock traded down $0.61 on Friday, reaching $31.37. 3,404,398 shares of the stock were exchanged, compared to its average volume of 803,996. The firm has a market capitalization of $2.88 billion, a PE ratio of 6.49, a PEG ratio of 0.67 and a beta of 1.71. Tri Pointe Homes, Inc. has a 1-year low of $30.25 and a 1-year high of $47.78. The business has a fifty day moving average price of $34.29 and a two-hundred day moving average price of $39.03. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its 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. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. As a group, research analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has authorized a stock repurchase program on Wednesday, December 18th that authorizes the company to buyback $250.00 million in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 7.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have commented on TPH shares. StockNews.com lowered shares of Tri Pointe Homes from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Royal Bank of Canada lowered shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and dropped their price objective for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. Oppenheimer dropped their price target 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. Seaport Res Ptn upgraded shares of Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Finally, Evercore ISI dropped their price target 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, February 19th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $40.60.

Tri Pointe Homes 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.