Vestcor Inc Purchases Shares of 7,298 Tri Pointe Homes, Inc. (NYSE:TPH)

Vestcor Inc acquired a new stake in Tri Pointe Homes, Inc. (NYSE:TPH) during the 4th quarter, Holdings Channel reports. The firm acquired 7,298 shares of the construction company’s stock, valued at approximately $265,000.

A number of other hedge funds have also recently made changes to their positions in the business. Smartleaf Asset Management LLC lifted its holdings in Tri Pointe Homes by 84.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock worth $49,000 after purchasing an additional 613 shares in the last quarter. Assetmark Inc. raised its position in shares of Tri Pointe Homes by 19.6% during the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock valued at $66,000 after buying an additional 300 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Tri Pointe Homes by 562.1% in the fourth 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 in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Tri Pointe Homes by 51.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock worth $84,000 after acquiring an additional 789 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in Tri Pointe Homes by 72.8% during the fourth quarter. Blue Trust Inc. now owns 4,093 shares of the construction company’s stock valued at $148,000 after acquiring an additional 1,725 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on TPH shares. Evercore ISI decreased 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 note on Wednesday, February 19th. Oppenheimer dropped their price target on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada downgraded Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $41.00 to $37.00 in a research note on Wednesday, February 19th. Wedbush reiterated a “neutral” rating and set a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Finally, 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. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tri Pointe Homes currently has a consensus rating of “Moderate Buy” and an average price target of $40.60.

Tri Pointe Homes Price Performance

Tri Pointe Homes stock opened at $31.29 on Tuesday. The firm has a market capitalization of $2.87 billion, a PE ratio of 6.48, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. Tri Pointe Homes, Inc. has a 12-month low of $30.25 and a 12-month high of $47.78. The firm has a 50-day moving average price of $34.57 and a 200-day moving average price of $39.34. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH) last announced its earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.22 billion. As a group, equities research analysts forecast that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its board has authorized a share repurchase program on Wednesday, December 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to buy up to 7.3% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership 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.