Wellington Management Group LLP Reduces Stock Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Wellington Management Group LLP cut its stake in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 7.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 629,344 shares of the construction company's stock after selling 50,963 shares during the period. Wellington Management Group LLP owned 0.67% of Tri Pointe Homes worth $22,820,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. CIBC Private Wealth Group LLC increased its holdings in shares of Tri Pointe Homes by 8.8% in the fourth quarter. CIBC Private Wealth Group LLC now owns 3,563 shares of the construction company's stock valued at $126,000 after purchasing an additional 287 shares during the period. Assetmark Inc. increased its holdings 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 period. Hillsdale Investment Management Inc. raised its position in Tri Pointe Homes by 0.3% during the 4th quarter. Hillsdale Investment Management Inc. now owns 99,800 shares of the construction company's stock worth $3,619,000 after buying an additional 340 shares during the last quarter. Highland Capital Management LLC lifted its stake in Tri Pointe Homes by 6.7% during the 4th quarter. Highland Capital Management LLC now owns 5,852 shares of the construction company's stock valued at $212,000 after acquiring an additional 368 shares during the period. Finally, Park Avenue Securities LLC lifted its stake in Tri Pointe Homes by 7.4% during the 4th quarter. Park Avenue Securities LLC now owns 6,412 shares of the construction company's stock valued at $232,000 after acquiring an additional 444 shares during the period. Hedge funds and other institutional investors own 97.01% of the company's stock.

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Tri Pointe Homes Price Performance

NYSE TPH traded up $0.07 during trading hours on Friday, reaching $29.17. The company's stock had a trading volume of 744,551 shares, compared to its average volume of 871,358. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 6.04, a P/E/G ratio of 0.67 and a beta of 1.44. The company's 50-day moving average is $32.24 and its two-hundred day moving average is $37.56. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64. 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 announced its earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. On average, equities analysts predict that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its Board of Directors has initiated a share buyback program on Wednesday, December 18th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the construction company to purchase up to 7.3% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Seaport Res Ptn raised shares of Tri Pointe Homes from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. Oppenheimer decreased their price objective 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. StockNews.com downgraded Tri Pointe Homes from a "buy" rating to a "hold" rating in a research note on Tuesday, December 17th. Wedbush reiterated a "neutral" rating and set a $38.00 price target (down from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Finally, Evercore ISI lowered their price objective on Tri Pointe Homes from $54.00 to $42.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Tri Pointe Homes has a consensus rating of "Moderate Buy" and an average price target of $40.60.

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.