PNC Financial Services Group Inc. Lowers Stock Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

PNC Financial Services Group Inc. reduced its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,329 shares of the construction company’s stock after selling 400 shares during the period. PNC Financial Services Group Inc.’s holdings in Tri Pointe Homes were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of TPH. Smartleaf Asset Management LLC boosted its holdings in Tri Pointe Homes by 84.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock valued at $49,000 after purchasing an additional 613 shares during the period. Assetmark Inc. boosted its holdings in Tri Pointe Homes by 19.6% in the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock valued at $66,000 after purchasing an additional 300 shares during the period. Venturi Wealth Management LLC boosted its holdings in 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 valued at $81,000 after purchasing an additional 1,900 shares during the period. Nisa Investment Advisors LLC boosted its holdings in 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 valued at $84,000 after purchasing an additional 789 shares during the period. Finally, Truvestments Capital LLC purchased a new position in Tri Pointe Homes in the third quarter valued at $184,000. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Tri Pointe Homes Stock Down 1.9 %

TPH opened at $31.37 on Friday. The business’s 50-day simple moving average is $34.29 and its 200-day simple moving average is $39.05. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24. Tri Pointe Homes, Inc. has a one year low of $30.25 and a one year high of $47.78. The stock has a market capitalization of $2.88 billion, a P/E ratio of 6.49, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.22 billion. Analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

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

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Royal Bank of Canada lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their target price for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. Wedbush restated a “neutral” rating and issued a $38.00 price target (down from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Evercore ISI cut their price target on 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. Seaport Res Ptn upgraded Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Finally, StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.