Victory Capital Management Inc. Acquires 10,116 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Victory Capital Management Inc. raised its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 282,612 shares of the construction company’s stock after acquiring an additional 10,116 shares during the period. Victory Capital Management Inc. owned approximately 0.30% of Tri Pointe Homes worth $12,805,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Assenagon Asset Management S.A. raised its holdings in shares of Tri Pointe Homes by 260.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock worth $64,216,000 after acquiring an additional 1,024,425 shares in the last quarter. Millennium Management LLC raised its holdings in shares of Tri Pointe Homes by 14.1% during the 2nd quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock worth $34,475,000 after acquiring an additional 114,244 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Tri Pointe Homes by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company’s stock worth $34,135,000 after acquiring an additional 31,041 shares in the last quarter. Cubist Systematic Strategies LLC raised its holdings in Tri Pointe Homes by 149.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 534,406 shares of the construction company’s stock valued at $19,907,000 after buying an additional 320,221 shares during the period. Finally, Renaissance Technologies LLC raised its holdings in Tri Pointe Homes by 1,417.8% during the 2nd quarter. Renaissance Technologies LLC now owns 443,736 shares of the construction company’s stock valued at $16,529,000 after buying an additional 414,500 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Tri Pointe Homes

In related news, General Counsel David Ch Lee sold 5,000 shares of the firm’s 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 owns 85,792 shares of the company’s stock, valued at $3,798,869.76. This trade represents a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Evercore ISI upgraded Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Royal Bank of Canada decreased their price target on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Oppenheimer decreased their price target on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Wedbush reiterated a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Finally, Zelman & Associates upgraded Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price on the stock in a research note on Tuesday, September 17th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tri Pointe Homes presently has an average rating of “Moderate Buy” and an average price target of $45.75.

Tri Pointe Homes Stock Performance

TPH stock opened at $41.74 on Thursday. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. The business’s fifty day simple moving average is $43.32 and its two-hundred day simple moving average is $41.51. Tri Pointe Homes, Inc. has a twelve month low of $28.74 and a twelve month high of $47.78. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 8.65, a PEG ratio of 0.68 and a beta of 1.60.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the company earned $0.76 EPS. The business’s revenue was up 34.9% compared to the same quarter last year. Analysts predict that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current year.

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.