Renaissance Technologies LLC Raises Stock Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Renaissance Technologies LLC increased its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 1,417.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 443,736 shares of the construction company’s stock after purchasing an additional 414,500 shares during the period. Renaissance Technologies LLC owned 0.47% of Tri Pointe Homes worth $16,529,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp grew its stake in Tri Pointe Homes by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company’s stock worth $34,135,000 after purchasing an additional 31,041 shares during the period. Norges Bank purchased a new stake in Tri Pointe Homes in the fourth quarter worth $22,862,000. Principal Financial Group Inc. grew its stake in Tri Pointe Homes by 0.4% in the first quarter. Principal Financial Group Inc. now owns 530,036 shares of the construction company’s stock worth $20,491,000 after purchasing an additional 2,211 shares during the period. Allianz Asset Management GmbH grew its stake in Tri Pointe Homes by 49.9% in the fourth quarter. Allianz Asset Management GmbH now owns 439,344 shares of the construction company’s stock worth $15,553,000 after purchasing an additional 146,307 shares during the period. Finally, Jane Street Group LLC grew its stake in Tri Pointe Homes by 171.3% in the first quarter. Jane Street Group LLC now owns 293,636 shares of the construction company’s stock worth $11,352,000 after purchasing an additional 185,395 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Trading Down 2.8 %

Tri Pointe Homes stock opened at $44.73 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Tri Pointe Homes, Inc. has a one year low of $24.18 and a one year high of $47.78. The stock has a market capitalization of $4.24 billion, a PE ratio of 11.93, a price-to-earnings-growth ratio of 0.73 and a beta of 1.59. The business’s fifty day moving average is $43.52 and its 200 day moving average is $39.44.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Thursday, July 25th. The construction company reported $1.25 EPS for the quarter, beating the consensus estimate of $1.09 by $0.16. Tri Pointe Homes had a return on equity of 14.03% and a net margin of 10.28%. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm posted $0.60 earnings per share. Tri Pointe Homes’s revenue was up 38.3% compared to the same quarter last year. On average, sell-side analysts predict that Tri Pointe Homes, Inc. will post 4.68 EPS for the current year.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, CFO Glenn J. Keeler sold 24,200 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $46.16, for a total value of $1,117,072.00. Following the transaction, the chief financial officer now owns 149,108 shares of the company’s stock, valued at $6,882,825.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Tri Pointe Homes news, CFO Glenn J. Keeler sold 24,200 shares of the stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $46.16, for a total value of $1,117,072.00. Following the transaction, the chief financial officer now owns 149,108 shares of the company’s stock, valued at $6,882,825.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel David Ch Lee sold 5,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the completion of the transaction, the general counsel now directly owns 85,792 shares in the company, valued at approximately $3,798,869.76. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TPH has been the topic of a number of recent research reports. Evercore ISI raised Tri Pointe Homes to a “strong-buy” rating in a research note on Friday, July 26th. Wedbush reissued a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday, July 25th. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price on the stock in a research note on Tuesday, September 17th. Royal Bank of Canada increased their target price on Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Oppenheimer increased their target price on Tri Pointe Homes from $46.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.75.

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.