Public Sector Pension Investment Board Acquires 9,828 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Public Sector Pension Investment Board increased its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 4.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 208,756 shares of the construction company’s stock after acquiring an additional 9,828 shares during the quarter. Public Sector Pension Investment Board owned about 0.22% of Tri Pointe Homes worth $7,776,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Oliver Luxxe Assets LLC grew its position in shares of Tri Pointe Homes by 1.2% during the 1st quarter. Oliver Luxxe Assets LLC now owns 29,399 shares of the construction company’s stock worth $1,137,000 after purchasing an additional 354 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in Tri Pointe Homes by 1.5% during the first 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 in the last quarter. Blue Trust Inc. increased its stake in Tri Pointe Homes by 31.7% during the 2nd quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock worth $69,000 after acquiring an additional 427 shares during the period. Diversified Trust Co raised its holdings in Tri Pointe Homes by 4.2% in the 2nd quarter. Diversified Trust Co now owns 13,308 shares of the construction company’s stock valued at $496,000 after acquiring an additional 536 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Tri Pointe Homes by 63.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company’s stock valued at $57,000 after acquiring an additional 588 shares during the period. 97.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TPH has been the topic of a number of recent analyst reports. Wedbush restated a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a research report on Thursday, July 25th. Royal Bank of Canada upped their price target on shares of Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Oppenheimer lifted their price objective on shares of Tri Pointe Homes from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Zelman & Associates upgraded shares of 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, September 17th. Finally, Evercore ISI raised Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $46.75.

Tri Pointe Homes Price Performance

TPH stock opened at $44.95 on Wednesday. The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 11.99, a P/E/G ratio of 0.74 and a beta of 1.59. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The company has a 50 day simple moving average of $43.59 and a 200 day simple moving average of $39.62. Tri Pointe Homes, Inc. has a 1 year low of $24.18 and a 1 year high of $47.78.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Thursday, July 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was up 38.3% compared to the same quarter last year. Research analysts anticipate that Tri Pointe Homes, Inc. will post 4.68 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Glenn J. Keeler sold 24,200 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $46.16, for a total value of $1,117,072.00. Following the sale, the chief financial officer now owns 149,108 shares of the company’s stock, valued at $6,882,825.28. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, General Counsel David Ch Lee sold 5,000 shares of the firm’s stock in a transaction 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 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. Insiders own 2.00% of the company’s stock.

Tri Pointe Homes 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.