Renaissance Technologies LLC Has $13.14 Million Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Renaissance Technologies LLC trimmed its stake in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 362,236 shares of the construction company's stock after selling 14,900 shares during the period. Renaissance Technologies LLC owned about 0.39% of Tri Pointe Homes worth $13,135,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of TPH. Pacer Advisors Inc. acquired a new position in shares of Tri Pointe Homes during the fourth quarter valued at $118,407,000. Norges Bank acquired a new position in Tri Pointe Homes during the 4th quarter valued at about $14,815,000. Raymond James Financial Inc. bought a new position in shares of Tri Pointe Homes in the 4th quarter valued at about $13,342,000. Boston Partners acquired a new stake in shares of Tri Pointe Homes during the 4th quarter worth approximately $8,888,000. Finally, American Century Companies Inc. raised its stake in shares of Tri Pointe Homes by 14.0% during the fourth quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company's stock worth $70,579,000 after buying an additional 238,807 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. 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 cut shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and decreased their price objective for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. Wedbush reissued a "neutral" rating and set a $38.00 price target (down from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Evercore ISI reduced their target price on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. Finally, Oppenheimer lowered their price target on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating for the company in a report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $40.60.

Tri Pointe Homes Stock Up 1.5 %

TPH traded up $0.44 during trading hours on Friday, hitting $29.50. 1,153,626 shares of the company's stock were exchanged, compared to its average volume of 871,539. The stock has a market cap of $2.71 billion, a price-to-earnings ratio of 6.11, a PEG ratio of 0.67 and a beta of 1.44. Tri Pointe Homes, Inc. has a 1-year low of $27.90 and a 1-year high of $47.78. The stock's 50-day moving average is $31.58 and its two-hundred day moving average is $37.07. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $1.22 billion. Sell-side analysts predict that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

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.