Public Sector Pension Investment Board Reduces Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Public Sector Pension Investment Board reduced its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 4.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 198,556 shares of the construction company’s stock after selling 10,200 shares during the period. Public Sector Pension Investment Board owned about 0.21% of Tri Pointe Homes worth $8,997,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Tri Pointe Homes by 22.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 315,100 shares of the construction company’s stock worth $14,277,000 after purchasing an additional 57,400 shares during the last quarter. Bridgewater Associates LP boosted its position in Tri Pointe Homes by 476.3% during the 3rd quarter. Bridgewater Associates LP now owns 174,719 shares of the construction company’s stock valued at $7,917,000 after buying an additional 144,403 shares during the period. Quantbot Technologies LP grew its holdings in Tri Pointe Homes by 562.0% in the 3rd quarter. Quantbot Technologies LP now owns 147,238 shares of the construction company’s stock worth $6,671,000 after acquiring an additional 124,998 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Tri Pointe Homes in the third quarter valued at about $184,000. Finally, Dynamic Technology Lab Private Ltd increased its position in shares of Tri Pointe Homes by 87.9% in the third quarter. Dynamic Technology Lab Private Ltd now owns 34,061 shares of the construction company’s stock valued at $1,543,000 after acquiring an additional 15,936 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Stock Performance

Tri Pointe Homes stock opened at $43.53 on Friday. Tri Pointe Homes, Inc. has a fifty-two week low of $28.74 and a fifty-two week high of $47.78. The stock’s 50 day simple moving average is $43.14 and its two-hundred day simple moving average is $41.68. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market cap of $4.07 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 0.71 and a beta of 1.60.

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

Insider Activity

In other news, General Counsel David Ch Lee sold 5,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $3,798,869.76. The trade was a 5.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

TPH has been the topic of several recent analyst reports. Oppenheimer cut their target price on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Wedbush reiterated a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Royal Bank of Canada reduced their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target for the company in a research note on Tuesday, September 17th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus 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.