CIBC Asset Management Inc Boosts Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

CIBC Asset Management Inc grew its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 10.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,109 shares of the construction company’s stock after buying an additional 584 shares during the period. CIBC Asset Management Inc’s holdings in Tri Pointe Homes were worth $222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Reston Wealth Management LLC acquired a new position in shares of Tri Pointe Homes in the third quarter worth about $45,000. Nisa Investment Advisors LLC increased its stake in shares of Tri Pointe Homes by 51.4% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock worth $84,000 after purchasing an additional 789 shares in the last quarter. Blue Trust Inc. increased its stake 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 purchasing an additional 594 shares in the last quarter. KBC Group NV grew its stake in Tri Pointe Homes by 65.9% during the 4th quarter. KBC Group NV now owns 4,254 shares of the construction company’s stock valued at $154,000 after acquiring an additional 1,690 shares in the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Tri Pointe Homes during the 3rd quarter valued at about $184,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Insiders Place Their Bets

In related news, COO Thomas J. Mitchell sold 77,384 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $39.15, for a total value of $3,029,583.60. Following the completion of the sale, the chief operating officer now directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. The trade was a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by company insiders.

Tri Pointe Homes Trading Up 3.8 %

Shares of Tri Pointe Homes stock opened at $32.65 on Wednesday. Tri Pointe Homes, Inc. has a 1 year low of $30.25 and a 1 year high of $47.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24. The company has a market capitalization of $3.06 billion, a P/E ratio of 6.76, a PEG ratio of 0.67 and a beta of 1.64. The company’s fifty day moving average is $35.89 and its two-hundred day moving average is $40.44.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The firm had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Analysts forecast that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Oppenheimer dropped their price objective on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Royal Bank of Canada cut shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. Evercore ISI decreased their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Wedbush restated a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Tri Pointe Homes presently has a consensus rating of “Hold” and an average price target of $40.60.

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.