Victory Capital Management Inc. Raises Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Victory Capital Management Inc. grew its stake in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 8.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 306,586 shares of the construction company's stock after acquiring an additional 23,974 shares during the quarter. Victory Capital Management Inc. owned about 0.33% of Tri Pointe Homes worth $11,117,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of TPH. Pacer Advisors Inc. purchased a new position in shares of Tri Pointe Homes in the 4th quarter valued at about $118,407,000. Weiss Asset Management LP acquired a new position in shares of Tri Pointe Homes during the 3rd quarter worth about $16,066,000. Bridgewater Associates LP increased its holdings in shares of Tri Pointe Homes by 476.3% in the 3rd quarter. Bridgewater Associates LP now owns 174,719 shares of the construction company's stock valued at $7,917,000 after acquiring an additional 144,403 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Tri Pointe Homes by 703.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,853 shares of the construction company's stock worth $7,198,000 after acquiring an additional 139,079 shares in the last quarter. Finally, Quantbot Technologies LP boosted its holdings in Tri Pointe Homes by 562.0% in the third quarter. Quantbot Technologies LP now owns 147,238 shares of the construction company's stock valued at $6,671,000 after purchasing an additional 124,998 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company's stock.

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Analyst Upgrades and Downgrades

Several brokerages have issued reports on TPH. Oppenheimer dropped 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. StockNews.com lowered Tri Pointe Homes from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Royal Bank of Canada lowered shares of Tri Pointe Homes from an "outperform" rating to a "sector perform" rating and lowered their target price for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. Wedbush reaffirmed a "neutral" rating and issued a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Finally, Seaport Res Ptn upgraded shares of Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 6th. Four 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 company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $40.60.

Tri Pointe Homes Stock Performance

NYSE:TPH traded down $0.25 during midday trading on Monday, reaching $31.29. The stock had a trading volume of 722,131 shares, compared to its average volume of 799,520. 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 $2.87 billion, a P/E ratio of 6.48, a P/E/G ratio of 0.67 and a beta of 1.71. The firm has a fifty day simple moving average of $34.65 and a two-hundred day simple moving average of $39.43. Tri Pointe Homes, Inc. has a 12-month low of $30.25 and a 12-month high of $47.78.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last issued its earnings results 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 net margin of 10.36% and a return on equity of 14.34%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. On average, equities analysts expect that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

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

Tri Pointe Homes 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.