Geode Capital Management LLC Grows Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Geode Capital Management LLC boosted its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 1.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,529,823 shares of the construction company's stock after buying an additional 44,160 shares during the period. Geode Capital Management LLC owned 2.70% of Tri Pointe Homes worth $91,748,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Tri Pointe Homes by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 11,573,813 shares of the construction company's stock valued at $419,666,000 after purchasing an additional 143,365 shares during the last quarter. Pacer Advisors Inc. acquired a new position in Tri Pointe Homes during the fourth quarter worth about $118,407,000. GW&K Investment Management LLC grew its stake in Tri Pointe Homes by 5.3% during the 4th quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company's stock valued at $73,850,000 after acquiring an additional 102,187 shares in the last quarter. American Century Companies Inc. raised its holdings in Tri Pointe Homes by 14.0% in the 4th quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company's stock valued at $70,579,000 after acquiring an additional 238,807 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in shares of 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 worth $41,284,000 after purchasing an additional 27,691 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company's stock.

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Tri Pointe Homes Stock Up 0.2 %

Tri Pointe Homes stock traded up $0.05 during trading on Wednesday, reaching $29.35. The stock had a trading volume of 77,411 shares, compared to its average volume of 869,921. Tri Pointe Homes, Inc. has a 52-week low of $27.55 and a 52-week high of $47.78. The business has a 50 day moving average price of $31.96 and a 200 day moving average price of $37.35. 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 stock has a market cap of $2.69 billion, a PE ratio of 6.07, a P/E/G ratio of 0.67 and a beta of 1.44.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $1.22 billion. On average, analysts predict that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

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

Analyst Upgrades and Downgrades

Several research firms recently commented on TPH. Oppenheimer cut 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. Seaport Res Ptn raised shares of Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Evercore ISI lowered their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada lowered Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and cut their target price for the company from $41.00 to $37.00 in a research report on Wednesday, February 19th. Finally, StockNews.com cut Tri Pointe Homes from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Tri Pointe Homes presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.60.

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.