State of New Jersey Common Pension Fund D Cuts Stock Position in Tri Pointe Homes, Inc. (NYSE:TPH)

State of New Jersey Common Pension Fund D lowered its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 37.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 49,755 shares of the construction company’s stock after selling 30,225 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.05% of Tri Pointe Homes worth $1,853,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of TPH. Bank of New York Mellon Corp grew its position in Tri Pointe Homes by 3.5% during the 2nd 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 last quarter. Norges Bank purchased a new stake in Tri Pointe Homes during the 4th quarter worth approximately $22,862,000. Principal Financial Group Inc. grew its position in Tri Pointe Homes by 0.4% during the 1st 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 last quarter. Allianz Asset Management GmbH grew its position in Tri Pointe Homes by 49.9% during the 4th 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 last quarter. Finally, Jane Street Group LLC grew its position in Tri Pointe Homes by 171.3% during the 1st 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 last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Stock Performance

TPH opened at $45.25 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a fifty day moving average price of $43.58 and a 200 day moving average price of $39.55. Tri Pointe Homes, Inc. has a 1 year low of $24.18 and a 1 year high of $47.78. The stock has a market cap of $4.29 billion, a P/E ratio of 12.07, a P/E/G ratio of 0.73 and a beta of 1.59.

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

Analyst Ratings Changes

Several research firms have weighed in on TPH. Royal Bank of Canada boosted their target price on shares of Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Zelman & Associates raised shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective on the stock in a report on Tuesday, September 17th. Evercore ISI raised shares of Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Wedbush reaffirmed a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday, July 25th. Finally, Oppenheimer upped their price objective on shares of Tri Pointe Homes from $46.00 to $54.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Two 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $46.75.

Insiders Place Their Bets

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

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.