Covestor Ltd Sells 521 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Covestor Ltd lowered its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 47.6% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 573 shares of the construction company’s stock after selling 521 shares during the quarter. Covestor Ltd’s holdings in Tri Pointe Homes were worth $26,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. ProShare Advisors LLC lifted its holdings in shares of Tri Pointe Homes by 7.4% in the first quarter. ProShare Advisors LLC now owns 19,415 shares of the construction company’s stock worth $751,000 after buying an additional 1,338 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Tri Pointe Homes by 64.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 83,261 shares of the construction company’s stock worth $3,219,000 after purchasing an additional 32,717 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Tri Pointe Homes by 1.5% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,094 shares of the construction company’s stock worth $959,000 after acquiring an additional 376 shares during the period. UniSuper Management Pty Ltd purchased a new stake in Tri Pointe Homes in the first quarter worth $834,000. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Tri Pointe Homes by 2.5% in the first quarter. CANADA LIFE ASSURANCE Co now owns 108,572 shares of the construction company’s stock worth $4,196,000 after acquiring an additional 2,621 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Price Performance

Shares of Tri Pointe Homes stock opened at $41.79 on Friday. The stock’s 50-day simple moving average is $43.34 and its 200-day simple moving average is $41.37. Tri Pointe Homes, Inc. has a 52 week low of $28.74 and a 52 week high of $47.78. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 0.67 and a beta of 1.60. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28.

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

Insider Buying and Selling

In related news, General Counsel David Ch Lee sold 5,000 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $44.28, for a total value of $221,400.00. Following the sale, the general counsel now directly owns 85,792 shares in the company, valued at approximately $3,798,869.76. The trade was a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on TPH. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective for the company in a research report on Tuesday, September 17th. Wedbush reiterated a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday, October 24th. Evercore ISI upgraded Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Oppenheimer cut their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Royal Bank of Canada cut their price objective on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.