Tri Pointe Homes, Inc. (NYSE:TPH) Shares Sold by State Street Corp

State Street Corp lessened its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,932,771 shares of the construction company's stock after selling 292,358 shares during the quarter. State Street Corp owned about 5.27% of Tri Pointe Homes worth $223,504,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its stake in Tri Pointe Homes by 260.8% in the third quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company's stock valued at $64,216,000 after buying an additional 1,024,425 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake 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 acquiring an additional 115,099 shares during the last quarter. Millennium Management LLC lifted its position in Tri Pointe Homes by 14.1% during the 2nd quarter. Millennium Management LLC now owns 925,498 shares of the construction company's stock worth $34,475,000 after acquiring an additional 114,244 shares during the period. Bank of New York Mellon Corp grew its stake in Tri Pointe Homes by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company's stock valued at $34,135,000 after purchasing an additional 31,041 shares during the last quarter. Finally, Fisher Asset Management LLC increased its stake in shares of Tri Pointe Homes by 0.8% in the third quarter. Fisher Asset Management LLC now owns 725,537 shares of the construction company's stock worth $32,874,000 after acquiring an additional 6,079 shares during the period. Hedge funds and other institutional investors own 97.01% of the company's stock.

Tri Pointe Homes Trading Down 1.0 %

NYSE:TPH traded down $0.42 during trading hours on Thursday, reaching $40.07. 151,284 shares of the stock were exchanged, compared to its average volume of 876,045. Tri Pointe Homes, Inc. has a twelve month low of $30.27 and a twelve month high of $47.78. The business has a 50-day moving average of $42.68 and a two-hundred day moving average of $41.84. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 0.68 and a beta of 1.60. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last posted its earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.11. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. Tri Pointe Homes's revenue was up 34.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.76 EPS. On average, equities analysts predict that Tri Pointe Homes, Inc. will post 4.72 EPS for the current year.

Insider Activity

In other news, General Counsel David Ch Lee sold 5,000 shares of the business's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $221,400.00. Following the completion of the sale, the general counsel now owns 85,792 shares in the company, valued at approximately $3,798,869.76. The trade was a 5.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on TPH shares. Oppenheimer reduced their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Zelman & Associates raised Tri Pointe Homes from an "underperform" rating to a "neutral" rating and set a $43.00 price target for the company in a report on Tuesday, September 17th. Royal Bank of Canada dropped their price objective on Tri Pointe Homes from $48.00 to $45.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. Finally, Wedbush reaffirmed a "neutral" rating and set a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Tri Pointe Homes has a consensus rating of "Moderate Buy" and an average target price of $45.75.

About Tri Pointe Homes

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.