Oppenheimer Asset Management Inc. Takes $536,000 Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Oppenheimer Asset Management Inc. acquired a new stake in Tri Pointe Homes, Inc. (NYSE:TPH) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 14,393 shares of the construction company’s stock, valued at approximately $536,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Oliver Luxxe Assets LLC raised its position in shares of Tri Pointe Homes by 1.2% in the first quarter. Oliver Luxxe Assets LLC now owns 29,399 shares of the construction company’s stock valued at $1,137,000 after purchasing an additional 354 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of Tri Pointe Homes by 1.5% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,094 shares of the construction company’s stock worth $959,000 after buying an additional 376 shares during the period. Blue Trust Inc. grew its stake in Tri Pointe Homes by 31.7% in the 2nd quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock valued at $69,000 after buying an additional 427 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in Tri Pointe Homes by 21.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,748 shares of the construction company’s stock worth $97,000 after acquiring an additional 487 shares during the period. Finally, Diversified Trust Co lifted its position in Tri Pointe Homes by 4.2% during the 2nd quarter. Diversified Trust Co now owns 13,308 shares of the construction company’s stock worth $496,000 after acquiring an additional 536 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently commented on TPH shares. Royal Bank of Canada lifted their price objective on Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Evercore ISI upgraded Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective for the company in a research report on Tuesday. Wedbush reaffirmed a “neutral” rating and set a $42.00 target price on shares of Tri Pointe Homes in a research report on Thursday, July 25th. Finally, Oppenheimer increased their price target on shares of Tri Pointe Homes from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Tri Pointe Homes presently has a consensus rating of “Moderate Buy” and an average target price of $46.75.

Tri Pointe Homes Price Performance

Shares of NYSE:TPH opened at $44.73 on Friday. The firm has a market capitalization of $4.19 billion, a PE ratio of 11.93, a PEG ratio of 0.73 and a beta of 1.59. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. Tri Pointe Homes, Inc. has a 1-year low of $24.18 and a 1-year high of $47.78. The business’s 50 day moving average is $43.52 and its 200-day moving average is $39.41.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the company earned $0.60 earnings per share. The business’s revenue was up 38.3% compared to the same quarter last year. Sell-side analysts predict that Tri Pointe Homes, Inc. will post 4.68 earnings per share for the current year.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, General Counsel David Ch Lee sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $221,400.00. Following the completion of the transaction, the general counsel now owns 85,792 shares in the company, valued at $3,798,869.76. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Tri Pointe Homes news, CFO Glenn J. Keeler sold 24,200 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the completion of the transaction, the chief financial officer now directly owns 149,108 shares in the company, valued at $6,882,825.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction on Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the transaction, the general counsel now directly owns 85,792 shares of the company’s stock, valued at $3,798,869.76. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.