Tri Pointe Homes, Inc. (NYSE:TPH) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in Tri Pointe Homes, Inc. (NYSE:TPH) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 790,993 shares of the construction company’s stock after selling 22,298 shares during the period. Bank of New York Mellon Corp owned about 0.85% of Tri Pointe Homes worth $28,681,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its holdings in shares of Tri Pointe Homes by 562.1% in the fourth quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock worth $81,000 after buying an additional 1,900 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Tri Pointe Homes by 51.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock worth $84,000 after buying an additional 789 shares during the period. Truvestments Capital LLC acquired a new position in shares of Tri Pointe Homes in the third quarter worth about $184,000. Blue Trust Inc. boosted its holdings in shares of Tri Pointe Homes by 72.8% in the fourth quarter. Blue Trust Inc. now owns 4,093 shares of the construction company’s stock worth $148,000 after buying an additional 1,725 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Tri Pointe Homes by 65.9% in the fourth quarter. KBC Group NV now owns 4,254 shares of the construction company’s stock worth $154,000 after buying an additional 1,690 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Tri Pointe Homes Trading Down 0.3 %

Shares of TPH stock opened at $32.75 on Friday. Tri Pointe Homes, Inc. has a 1 year low of $30.25 and a 1 year high of $47.78. The firm’s fifty day simple moving average is $35.08 and its 200 day simple moving average is $39.91. The firm has a market capitalization of $3.01 billion, a P/E ratio of 6.78, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH) last announced its earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. As a group, sell-side analysts predict that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its Board of Directors has approved a share repurchase 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 often an indication that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages have commented on TPH. Oppenheimer decreased their target price on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Royal Bank of Canada cut shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Wedbush restated a “neutral” rating and set a $38.00 price target (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Evercore ISI decreased their price target on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, Seaport Res Ptn upgraded shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Tri Pointe Homes currently has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Insider Activity

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

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.