Pacer Advisors Inc. Invests $118.41 Million in Tri Pointe Homes, Inc. (NYSE:TPH)

Pacer Advisors Inc. purchased a new stake in Tri Pointe Homes, Inc. (NYSE:TPH) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,265,510 shares of the construction company’s stock, valued at approximately $118,407,000. Pacer Advisors Inc. owned 3.49% of Tri Pointe Homes as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its stake in shares of Tri Pointe Homes by 95.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 123,365 shares of the construction company’s stock valued at $4,595,000 after acquiring an additional 60,093 shares during the period. Public Employees Retirement Association of Colorado increased its holdings in Tri Pointe Homes by 291.3% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 4,340 shares of the construction company’s stock valued at $162,000 after purchasing an additional 3,231 shares in the last quarter. Sei Investments Co. raised its position in Tri Pointe Homes by 8.0% in the second quarter. Sei Investments Co. now owns 154,888 shares of the construction company’s stock valued at $5,770,000 after purchasing an additional 11,522 shares during the period. AXA S.A. lifted its stake in shares of Tri Pointe Homes by 10.8% during the second quarter. AXA S.A. now owns 114,582 shares of the construction company’s stock worth $4,268,000 after purchasing an additional 11,164 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Tri Pointe Homes by 14.1% in the second quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock worth $34,475,000 after buying an additional 114,244 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

Tri Pointe Homes Stock Performance

Tri Pointe Homes stock opened at $37.33 on Monday. 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 has a 50 day moving average of $38.85 and a 200-day moving average of $41.72. The stock has a market cap of $3.49 billion, a P/E ratio of 7.75, a price-to-earnings-growth ratio of 0.60 and a beta of 1.64. Tri Pointe Homes, Inc. has a 52 week low of $33.24 and a 52 week high of $47.78.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.11. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The firm’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period last year, the business earned $0.76 EPS. On average, analysts expect that Tri Pointe Homes, Inc. will post 4.72 EPS for the current fiscal year.

Tri Pointe Homes declared that its board has approved a share repurchase program on Wednesday, December 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $39.15, for a total value of $3,029,583.60. Following the completion of the sale, the chief operating officer now directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. The trade was a 9.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on TPH. Royal Bank of Canada dropped their target price 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. Oppenheimer reduced their target price on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Wedbush restated a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Finally, StockNews.com downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $45.75.

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.