Wellington Management Group LLP Sells 347,142 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Wellington Management Group LLP cut its holdings in Tri Pointe Homes, Inc. (NYSE:TPH - Free Report) by 33.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 680,307 shares of the construction company's stock after selling 347,142 shares during the quarter. Wellington Management Group LLP owned 0.73% of Tri Pointe Homes worth $30,825,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TPH. CWM LLC grew its holdings in shares of Tri Pointe Homes by 70.8% in the second quarter. CWM LLC now owns 2,220 shares of the construction company's stock valued at $83,000 after purchasing an additional 920 shares in the last quarter. Diversified Trust Co grew its holdings in shares of Tri Pointe Homes by 4.2% in the second quarter. Diversified Trust Co now owns 13,308 shares of the construction company's stock valued at $496,000 after purchasing an additional 536 shares in the last quarter. Envestnet Portfolio Solutions Inc. purchased a new position in Tri Pointe Homes during the second quarter worth $254,000. Blue Trust Inc. boosted its stake in Tri Pointe Homes by 31.7% during the second quarter. Blue Trust Inc. now owns 1,774 shares of the construction company's stock worth $69,000 after buying an additional 427 shares during the period. Finally, Gradient Investments LLC purchased a new position in Tri Pointe Homes during the second quarter worth $30,000. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Trading Down 2.4 %

Shares of TPH traded down $0.97 during trading hours on Friday, reaching $39.11. 173,783 shares of the company traded hands, compared to its average volume of 876,079. The firm has a market cap of $3.66 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 0.66 and a beta of 1.60. Tri Pointe Homes, Inc. has a 12-month low of $32.63 and a 12-month high of $47.78. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The stock's fifty day moving average price is $42.59 and its 200 day moving average price is $41.83.

Tri Pointe Homes (NYSE:TPH - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.07 by $0.11. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. The firm's quarterly revenue was up 34.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 earnings per share. Sell-side analysts forecast that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have commented on TPH shares. Royal Bank of Canada dropped their price objective on shares of Tri Pointe Homes from $48.00 to $45.00 and set an "outperform" rating for the company in a research note on Friday, October 25th. Zelman & Associates raised shares of Tri Pointe Homes from an "underperform" rating to a "neutral" rating and set a $43.00 price objective for the company in a research note on Tuesday, September 17th. Wedbush reaffirmed a "neutral" rating and set a $42.00 price objective on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Finally, Oppenheimer lowered their target price on shares of 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. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.