Savant Capital LLC Cuts Stock Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Savant Capital LLC lessened its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 8.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,059 shares of the construction company’s stock after selling 547 shares during the period. Savant Capital LLC’s holdings in Tri Pointe Homes were worth $220,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. GSA Capital Partners LLP grew its stake in Tri Pointe Homes by 4.4% in the third quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company’s stock valued at $280,000 after purchasing an additional 258 shares during the last quarter. Empowered Funds LLC grew its stake in Tri Pointe Homes by 0.3% in the third quarter. Empowered Funds LLC now owns 99,346 shares of the construction company’s stock valued at $4,501,000 after purchasing an additional 265 shares during the last quarter. Highland Capital Management LLC grew its stake in Tri Pointe Homes by 6.7% in the fourth quarter. Highland Capital Management LLC now owns 5,852 shares of the construction company’s stock valued at $212,000 after purchasing an additional 368 shares during the last quarter. Park Avenue Securities LLC grew its stake in Tri Pointe Homes by 7.4% in the fourth quarter. Park Avenue Securities LLC now owns 6,412 shares of the construction company’s stock valued at $232,000 after purchasing an additional 444 shares during the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in Tri Pointe Homes by 9.4% in the third quarter. First Trust Direct Indexing L.P. now owns 6,266 shares of the construction company’s stock valued at $284,000 after purchasing an additional 541 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Insider Activity at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the company’s stock in a transaction that occurred on 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 owns 708,159 shares in the company, valued at $27,724,424.85. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Evercore ISI cut their target price on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research note on Wednesday. StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Wedbush restated a “neutral” rating and set a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday. Royal Bank of Canada lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $41.00 to $37.00 in a research note on Wednesday. Finally, Oppenheimer dropped their price target on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $40.60.

Tri Pointe Homes Price Performance

Shares of NYSE TPH opened at $30.88 on Thursday. The business’s 50 day moving average price is $36.69 and its 200 day moving average price is $40.76. The firm has a market cap of $2.89 billion, a P/E ratio of 6.41, a P/E/G ratio of 0.58 and a beta of 1.64. Tri Pointe Homes, Inc. has a 52 week low of $30.67 and a 52 week high of $47.78. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. On average, sell-side analysts expect that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current year.

Tri Pointe Homes declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to purchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is 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.