Envestnet Asset Management Inc. lowered its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 6.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 168,378 shares of the construction company's stock after selling 10,868 shares during the period. Envestnet Asset Management Inc. owned 0.18% of Tri Pointe Homes worth $6,105,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Smartleaf Asset Management LLC lifted its stake in shares of Tri Pointe Homes by 84.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company's stock worth $49,000 after purchasing an additional 613 shares during the period. Assetmark Inc. boosted its stake in Tri Pointe Homes by 19.6% in the 4th quarter. Assetmark Inc. now owns 1,827 shares of the construction company's stock worth $66,000 after buying an additional 300 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Tri Pointe Homes by 562.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company's stock valued at $81,000 after buying an additional 1,900 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Tri Pointe Homes by 51.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company's stock valued at $84,000 after acquiring an additional 789 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of Tri Pointe Homes during the 4th quarter worth about $118,000. Hedge funds and other institutional investors own 97.01% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on TPH shares. Royal Bank of Canada downgraded shares of 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 research note on Wednesday, February 19th. Evercore ISI decreased 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 note on Wednesday, February 19th. Wedbush reissued a "neutral" rating and issued a $38.00 price objective (down previously from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Seaport Res Ptn upgraded shares of Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. 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 investment 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 currently has a consensus rating of "Moderate Buy" and a consensus price target of $40.60.
Check Out Our Latest Stock Report on Tri Pointe Homes
Tri Pointe Homes Stock Down 2.0 %
TPH stock traded down $0.63 during trading on Friday, reaching $30.23. The stock had a trading volume of 772,881 shares, compared to its average volume of 871,665. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The firm has a fifty day moving average price of $31.15 and a 200 day moving average price of $36.70. The company has a market capitalization of $2.77 billion, a P/E ratio of 6.27, 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.
Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The construction company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.25. The company had revenue of $720.79 million for the quarter, compared to the consensus estimate of $713.65 million. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. On average, equities analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.
About Tri Pointe Homes
(
Free Report)
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.
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