US Bancorp DE Trims Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

US Bancorp DE reduced its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 36,456 shares of the construction company’s stock after selling 648 shares during the quarter. US Bancorp DE’s holdings in Tri Pointe Homes were worth $1,322,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. purchased a new stake in Tri Pointe Homes in the 4th quarter worth about $118,407,000. Geode Capital Management LLC increased its position in shares of Tri Pointe Homes by 3.2% during the third quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock worth $112,644,000 after acquiring an additional 76,830 shares during the period. GW&K Investment Management LLC increased its position in shares of Tri Pointe Homes by 5.3% during the fourth quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company’s stock worth $73,850,000 after acquiring an additional 102,187 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Tri Pointe Homes by 11.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,165,651 shares of the construction company’s stock worth $52,816,000 after acquiring an additional 115,099 shares during the period. Finally, Allianz Asset Management GmbH increased its position in shares of Tri Pointe Homes by 4.4% during the fourth quarter. Allianz Asset Management GmbH now owns 810,904 shares of the construction company’s stock worth $29,403,000 after acquiring an additional 34,371 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction on Monday, December 16th. The shares were 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 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 filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is owned by insiders.

Tri Pointe Homes Price Performance

NYSE TPH opened at $32.75 on Friday. 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 firm’s 50 day moving average price is $35.08 and its 200-day moving average price is $39.91. Tri Pointe Homes, Inc. has a 52-week low of $30.25 and a 52-week high of $47.78. The company has a market cap of $3.01 billion, a PE ratio of 6.78, a P/E/G ratio of 0.67 and a beta of 1.71.

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

Tri Pointe Homes announced that its board has approved a stock buyback program on Wednesday, December 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently commented on TPH. Seaport Res Ptn raised shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Oppenheimer reduced their target price on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada lowered shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. Wedbush reaffirmed a “neutral” rating and set a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Finally, Evercore ISI dropped 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 research note on Wednesday, February 19th. Four 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. According to MarketBeat, Tri Pointe Homes currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.60.

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.