Signet Financial Management LLC Sells 1,835 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Signet Financial Management LLC lessened its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 131,086 shares of the construction company’s stock after selling 1,835 shares during the period. Signet Financial Management LLC owned about 0.14% of Tri Pointe Homes worth $4,753,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in Tri Pointe Homes in the second quarter valued at approximately $271,000. Choreo LLC bought a new position in Tri Pointe Homes during the second quarter worth $593,000. Federated Hermes Inc. lifted its holdings in Tri Pointe Homes by 10,048.1% in the second quarter. Federated Hermes Inc. now owns 35,011 shares of the construction company’s stock valued at $1,304,000 after buying an additional 34,666 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Tri Pointe Homes during the second quarter valued at $536,000. Finally, Envestnet Asset Management Inc. grew its holdings in Tri Pointe Homes by 95.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 123,365 shares of the construction company’s stock worth $4,595,000 after acquiring an additional 60,093 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Stock Up 2.7 %

Shares of NYSE TPH traded up $0.91 during mid-day trading on Monday, reaching $35.19. 894,976 shares of the company’s stock traded hands, compared to its average volume of 697,085. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. The business has a 50-day simple moving average of $39.83 and a 200 day simple moving average of $41.72. The stock has a market cap of $3.29 billion, a P/E ratio of 7.30, a PEG ratio of 0.64 and a beta of 1.64. Tri Pointe Homes, Inc. has a 1-year low of $33.24 and a 1-year high of $47.78.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the business earned $0.76 EPS. The company’s quarterly revenue was up 34.9% on a year-over-year basis. On average, analysts expect that Tri Pointe Homes, Inc. will post 4.72 EPS for the current fiscal year.

Tri Pointe Homes announced that its board has approved a share buyback program on Wednesday, December 18th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research firms recently commented on TPH. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Wedbush reiterated a “neutral” rating and set a $42.00 target price on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Royal Bank of Canada reduced their price target on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective on the stock in a report on Tuesday, September 17th. Finally, Oppenheimer decreased their target price on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.75.

Insiders Place Their Bets

In related news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction 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 sale, the chief operating officer now directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

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.