Illinois Municipal Retirement Fund Grows Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Illinois Municipal Retirement Fund increased its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 3.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 53,980 shares of the construction company’s stock after purchasing an additional 1,790 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.06% of Tri Pointe Homes worth $1,957,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in TPH. Reston Wealth Management LLC purchased a new stake in shares of Tri Pointe Homes during the third quarter worth about $45,000. Venturi Wealth Management LLC grew its position in shares of Tri Pointe Homes by 562.1% during the fourth quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock worth $81,000 after purchasing an additional 1,900 shares in the last quarter. Nisa Investment Advisors LLC grew its position in shares of Tri Pointe Homes by 51.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock worth $84,000 after purchasing an additional 789 shares in the last quarter. Blue Trust Inc. grew its position in shares of Tri Pointe Homes by 72.8% during the fourth quarter. Blue Trust Inc. now owns 4,093 shares of the construction company’s stock worth $148,000 after purchasing an additional 1,725 shares in the last quarter. Finally, KBC Group NV grew its holdings in Tri Pointe Homes by 65.9% during the 4th quarter. KBC Group NV now owns 4,254 shares of the construction company’s stock valued at $154,000 after buying an additional 1,690 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Insider Buying and Selling

In related news, COO Thomas J. Mitchell sold 77,384 shares of the firm’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 transaction of $3,029,583.60. Following the completion of the sale, the chief operating officer now directly owns 708,159 shares of the company’s stock, valued at approximately $27,724,424.85. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by corporate insiders.

Tri Pointe Homes Price Performance

Shares of Tri Pointe Homes stock opened at $31.63 on Friday. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 6.55, a price-to-earnings-growth ratio of 0.67 and a beta of 1.64. 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 stock has a 50 day moving average price of $35.57 and a 200-day moving average price of $40.25. Tri Pointe Homes, Inc. has a one year low of $30.25 and a one year high of $47.78.

Tri Pointe Homes (NYSE:TPH) last announced its earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. Equities analysts expect 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 allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to repurchase up to 7.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on TPH shares. Oppenheimer cut their price target 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. Evercore ISI cut their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Royal Bank of Canada cut Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. Finally, Wedbush restated a “neutral” rating and set a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $40.60.

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.