Park Avenue Securities LLC Has $232,000 Stock Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Park Avenue Securities LLC grew its holdings in Tri Pointe Homes, Inc. (NYSE:TPH) by 7.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 6,412 shares of the construction company’s stock after purchasing an additional 444 shares during the period. Park Avenue Securities LLC’s holdings in Tri Pointe Homes were worth $232,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Reston Wealth Management LLC bought a new position in shares of Tri Pointe Homes in the third quarter worth about $45,000. Quarry LP boosted its position in Tri Pointe Homes by 123.3% in the second quarter. Quarry LP now owns 2,401 shares of the construction company’s stock valued at $89,000 after buying an additional 1,326 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Tri Pointe Homes by 33.5% during the third quarter. Blue Trust Inc. now owns 2,368 shares of the construction company’s stock worth $107,000 after buying an additional 594 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Tri Pointe Homes by 75.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,669 shares of the construction company’s stock valued at $121,000 after acquiring an additional 1,149 shares during the last quarter. Finally, CWM LLC grew its position in Tri Pointe Homes by 39.3% during the 3rd quarter. CWM LLC now owns 3,092 shares of the construction company’s stock worth $140,000 after acquiring an additional 872 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TPH. StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Royal Bank of Canada lowered their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research 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 for the company in a research note on Friday, October 25th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Tri Pointe Homes currently has a consensus rating of “Moderate Buy” and an average price target of $45.75.

Insider Activity

In related news, COO Thomas J. Mitchell sold 77,384 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $39.15, for a total value of $3,029,583.60. Following the sale, the chief operating officer now directly owns 708,159 shares of the company’s stock, valued at $27,724,424.85. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 2.00% of the company’s stock.

Tri Pointe Homes Stock Down 0.9 %

Tri Pointe Homes stock opened at $37.33 on Monday. The firm has a market capitalization of $3.49 billion, a price-to-earnings ratio of 7.75, a price-to-earnings-growth ratio of 0.60 and a beta of 1.64. The firm’s fifty day moving average price is $38.85 and its two-hundred day moving average price is $41.72. Tri Pointe Homes, Inc. has a 1-year low of $33.24 and a 1-year high of $47.78. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data 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. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.05 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The business’s revenue for the quarter was up 34.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.76 EPS. On average, equities research analysts predict that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has authorized a share buyback 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 board believes its shares are undervalued.

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.