Proficio Capital Partners LLC Makes New $643,000 Investment in Tri Pointe Homes, Inc. (NYSE:TPH)

Proficio Capital Partners LLC acquired a new stake in Tri Pointe Homes, Inc. (NYSE:TPH) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 17,731 shares of the construction company’s stock, valued at approximately $643,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of TPH. Geode Capital Management LLC raised its stake in Tri Pointe Homes by 3.2% in the third quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock valued at $112,644,000 after buying an additional 76,830 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Tri Pointe Homes by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 486,100 shares of the construction company’s stock worth $17,626,000 after purchasing an additional 16,380 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Tri Pointe Homes by 404.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 43,849 shares of the construction company’s stock worth $1,987,000 after purchasing an additional 35,162 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in Tri Pointe Homes by 15.3% in the fourth quarter. New York State Teachers Retirement System now owns 67,505 shares of the construction company’s stock valued at $2,448,000 after purchasing an additional 8,948 shares in the last quarter. Finally, Atria Investments Inc increased its stake in Tri Pointe Homes by 30.0% in the third quarter. Atria Investments Inc now owns 15,839 shares of the construction company’s stock valued at $718,000 after purchasing an additional 3,653 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Insider Buying and Selling at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction dated 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 transaction, the chief operating officer now owns 708,159 shares in the company, valued at $27,724,424.85. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Tri Pointe Homes Stock Down 0.3 %

TPH stock opened at $32.75 on Monday. 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 stock has a market capitalization of $3.01 billion, a PE ratio of 6.78, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. Tri Pointe Homes, Inc. has a one year low of $30.25 and a one year high of $47.78. The company has a fifty day moving average of $35.08 and a 200-day moving average of $39.89.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results 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 return on equity of 14.34% and a net margin of 10.36%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. As a group, analysts expect that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on TPH. Oppenheimer decreased 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. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Wedbush reaffirmed a “neutral” rating and issued a $38.00 target price (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Royal Bank of Canada downgraded shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $41.00 to $37.00 in a research report on Wednesday, February 19th. Finally, Evercore ISI lowered 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 report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.