Royce & Associates LP Boosts Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Royce & Associates LP lifted its holdings in Tri Pointe Homes, Inc. (NYSE:TPH) by 12.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 539,080 shares of the construction company’s stock after buying an additional 57,559 shares during the period. Royce & Associates LP owned approximately 0.58% of Tri Pointe Homes worth $19,547,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of TPH. Pacer Advisors Inc. purchased a new position in shares of Tri Pointe Homes in the fourth quarter worth about $118,407,000. Raymond James Financial Inc. purchased a new position in shares of Tri Pointe Homes in the fourth quarter worth about $13,342,000. Weiss Asset Management LP purchased a new position in shares of Tri Pointe Homes in the third quarter worth about $16,066,000. HighTower Advisors LLC purchased a new position in shares of Tri Pointe Homes in the fourth quarter worth about $5,553,000. Finally, Bridgewater Associates LP lifted its stake in shares of Tri Pointe Homes by 476.3% in the third quarter. Bridgewater Associates LP now owns 174,719 shares of the construction company’s stock worth $7,917,000 after buying an additional 144,403 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Price Performance

Shares of TPH opened at $31.52 on Monday. Tri Pointe Homes, Inc. has a 1-year low of $30.25 and a 1-year high of $47.78. The stock has a market cap of $2.89 billion, a PE ratio of 6.53, a P/E/G ratio of 0.67 and a beta of 1.71. The firm has a 50-day simple moving average of $34.65 and a two-hundred day simple moving average of $39.43. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, beating 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 net margin of 10.36% and a return on equity of 14.34%. As a group, analysts forecast that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

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

Wall Street Analysts Forecast Growth

TPH has been the topic of a number of analyst reports. Oppenheimer reduced their target price on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Evercore ISI reduced 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 research note on Wednesday, February 19th. Royal Bank of Canada downgraded shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $41.00 to $37.00 in a research note on Wednesday, February 19th. Seaport Res Ptn raised shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Finally, StockNews.com downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Four 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus 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.