Skandinaviska Enskilda Banken AB publ Has $2.09 Million Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Skandinaviska Enskilda Banken AB publ reduced its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 43.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,518 shares of the construction company’s stock after selling 43,415 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.06% of Tri Pointe Homes worth $2,087,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC boosted its position in Tri Pointe Homes by 84.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock worth $49,000 after buying an additional 613 shares during the period. Assetmark Inc. boosted its position in Tri Pointe Homes by 19.6% during the 4th quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock worth $66,000 after buying an additional 300 shares during the period. Venturi Wealth Management LLC boosted its position in Tri Pointe Homes by 562.1% during the 4th quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock worth $81,000 after buying an additional 1,900 shares during the period. Nisa Investment Advisors LLC boosted its position in Tri Pointe Homes by 51.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock worth $84,000 after buying an additional 789 shares during the period. Finally, Blue Trust Inc. boosted its position in Tri Pointe Homes by 72.8% during the 4th quarter. Blue Trust Inc. now owns 4,093 shares of the construction company’s stock worth $148,000 after buying an additional 1,725 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Seaport Res Ptn upgraded shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Wedbush restated a “neutral” rating and issued a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Evercore ISI dropped their price target on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Royal Bank of Canada downgraded shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. Four equities 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. 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 Performance

NYSE:TPH opened at $31.52 on Monday. The company has a fifty day moving average of $34.65 and a 200-day moving average of $39.43. The firm has a market capitalization of $2.89 billion, a P/E ratio of 6.53, a P/E/G ratio of 0.67 and a beta of 1.71. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. Tri Pointe Homes, Inc. has a twelve month low of $30.25 and a twelve month high of $47.78.

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%. As a group, sell-side analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 EPS 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.

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.