Victory Capital Management Inc. Has $11.12 Million Stock Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Victory Capital Management Inc. lifted its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 8.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 306,586 shares of the construction company’s stock after buying an additional 23,974 shares during the quarter. Victory Capital Management Inc. owned about 0.33% of Tri Pointe Homes worth $11,117,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bailard Inc. increased its holdings in Tri Pointe Homes by 5.8% in the 4th quarter. Bailard Inc. now owns 18,333 shares of the construction company’s stock valued at $665,000 after buying an additional 1,000 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Tri Pointe Homes by 84.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock worth $49,000 after purchasing an additional 613 shares during the period. GW&K Investment Management LLC lifted its position in shares of Tri Pointe Homes by 5.3% in the 4th quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company’s stock worth $73,850,000 after purchasing an additional 102,187 shares during the period. QRG Capital Management Inc. lifted its position in shares of Tri Pointe Homes by 28.8% in the 4th quarter. QRG Capital Management Inc. now owns 33,442 shares of the construction company’s stock worth $1,213,000 after purchasing an additional 7,482 shares during the period. Finally, Proficio Capital Partners LLC acquired a new position in shares of Tri Pointe Homes in the 4th quarter worth approximately $643,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TPH. Seaport Res Ptn upgraded shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Royal Bank of Canada lowered shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Oppenheimer reduced their price target on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Finally, Wedbush reaffirmed a “neutral” rating and set a $38.00 price objective (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Four 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. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $40.60.

Insider Buying and Selling at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.50% of the company’s stock.

Tri Pointe Homes Stock Down 2.1 %

TPH stock opened at $31.14 on Friday. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $34.74 and its 200 day moving average is $39.60. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 6.45, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. Tri Pointe Homes, Inc. has a 1-year low of $30.25 and a 1-year high of $47.78.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly 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. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Sell-side analysts predict that Tri Pointe Homes, Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes announced that its board has initiated a share buyback plan on Wednesday, December 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to repurchase up to 7.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Tri Pointe Homes 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.