36,000 Shares in Tri Pointe Homes, Inc. (NYSE:TPH) Purchased by OFI Invest Asset Management

OFI Invest Asset Management purchased a new position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 36,000 shares of the construction company’s stock, valued at approximately $1,261,000.

A number of other hedge funds have also bought and sold shares of TPH. Smartleaf Asset Management LLC increased its position in Tri Pointe Homes by 84.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock worth $49,000 after acquiring an additional 613 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 valued at $66,000 after buying an additional 300 shares during the period. Venturi Wealth Management LLC increased its holdings in Tri Pointe Homes by 562.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock valued at $81,000 after buying an additional 1,900 shares during the period. Nisa Investment Advisors LLC increased its holdings in Tri Pointe Homes by 51.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock valued at $84,000 after buying an additional 789 shares during the period. Finally, Blue Trust Inc. increased its holdings in Tri Pointe Homes by 72.8% in the 4th quarter. Blue Trust Inc. now owns 4,093 shares of the construction company’s stock valued at $148,000 after buying an additional 1,725 shares during the period. 97.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Royal Bank of Canada lowered shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. Wedbush reissued 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. Evercore ISI decreased their target price on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Oppenheimer decreased their price target on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.60.

Tri Pointe Homes Stock Down 0.3 %

Shares of NYSE TPH opened at $32.75 on Monday. The company has a market capitalization of $3.01 billion, a P/E ratio of 6.78, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. Tri Pointe Homes, Inc. has a 52-week low of $30.25 and a 52-week high of $47.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24. The company’s 50 day moving average price is $35.08 and its 200-day moving average price is $39.89.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data 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. The company had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. Equities analysts forecast that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes announced that its Board of Directors has approved a share buyback plan on Wednesday, December 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction on Monday, December 16th. The shares were 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 owns 708,159 shares in the company, valued at $27,724,424.85. The trade was a 9.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is currently owned by company insiders.

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.