Phocas Financial Corp. Sells 187,824 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Phocas Financial Corp. cut its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 85.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,949 shares of the construction company's stock after selling 187,824 shares during the period. Phocas Financial Corp.'s holdings in Tri Pointe Homes were worth $1,195,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TPH. Pacer Advisors Inc. bought a new position in Tri Pointe Homes in the 4th quarter worth approximately $118,407,000. Geode Capital Management LLC increased its position in 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 worth $112,644,000 after buying an additional 76,830 shares during the period. Charles Schwab Investment Management Inc. increased its position in Tri Pointe Homes by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,165,651 shares of the construction company's stock worth $52,816,000 after buying an additional 115,099 shares during the period. Allianz Asset Management GmbH increased its position in Tri Pointe Homes by 4.4% in the 4th quarter. Allianz Asset Management GmbH now owns 810,904 shares of the construction company's stock worth $29,403,000 after buying an additional 34,371 shares during the period. Finally, Fisher Asset Management LLC increased its position in Tri Pointe Homes by 0.8% in the 3rd quarter. Fisher Asset Management LLC now owns 725,537 shares of the construction company's stock worth $32,874,000 after buying an additional 6,079 shares during the period. 97.01% of the stock is owned by institutional investors.

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Tri Pointe Homes Stock Up 1.3 %

Shares of TPH stock traded up $0.42 during trading on Friday, reaching $31.63. The company's stock had a trading volume of 1,436,862 shares, compared to its average volume of 861,635. 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 business has a fifty day moving average price of $35.57 and a 200-day moving average price of $40.25. Tri Pointe Homes, Inc. has a one year low of $30.25 and a one year high of $47.78. The company has a market cap of $2.91 billion, a price-to-earnings ratio of 6.55, a price-to-earnings-growth ratio of 0.67 and a beta of 1.64.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) 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 firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its board has approved a stock buyback plan on Wednesday, December 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board believes its stock is undervalued.

Insiders Place Their Bets

In other news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $39.15, for a total value of $3,029,583.60. Following the transaction, the chief operating officer now directly owns 708,159 shares of the company's stock, valued at $27,724,424.85. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wedbush reaffirmed a "neutral" rating and issued a $38.00 price target (down from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Oppenheimer decreased their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an "outperform" rating on the stock 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 on the stock in a report on Wednesday, February 19th. StockNews.com lowered Tri Pointe Homes from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Finally, Royal Bank of Canada lowered Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target 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.