Truist Financial Corp Purchases New Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Truist Financial Corp purchased a new stake in Tri Pointe Homes, Inc. (NYSE:TPH) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 38,414 shares of the construction company’s stock, valued at approximately $1,431,000.

Several other hedge funds have also made changes to their positions in TPH. Quarry LP increased its stake in Tri Pointe Homes by 123.3% in the 2nd quarter. Quarry LP now owns 2,401 shares of the construction company’s stock valued at $89,000 after buying an additional 1,326 shares during the period. Creative Planning increased its stake in Tri Pointe Homes by 43.0% in the 2nd quarter. Creative Planning now owns 13,503 shares of the construction company’s stock valued at $503,000 after buying an additional 4,063 shares during the period. Algert Global LLC increased its stake in Tri Pointe Homes by 69.9% in the 2nd quarter. Algert Global LLC now owns 296,892 shares of the construction company’s stock valued at $11,059,000 after buying an additional 122,157 shares during the period. The Manufacturers Life Insurance Company increased its stake in Tri Pointe Homes by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,706 shares of the construction company’s stock valued at $2,038,000 after buying an additional 667 shares during the period. Finally, Millennium Management LLC increased its stake in Tri Pointe Homes by 14.1% in the 2nd quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock valued at $34,475,000 after buying an additional 114,244 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Stock Performance

NYSE:TPH opened at $43.66 on Friday. Tri Pointe Homes, Inc. has a 1 year low of $24.18 and a 1 year high of $47.78. The firm’s fifty day simple moving average is $43.34 and its 200 day simple moving average is $40.41. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $4.09 billion, a PE ratio of 9.92, a PEG ratio of 0.71 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 analysts’ consensus estimates 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 business had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the business posted $0.60 EPS. Tri Pointe Homes’s revenue was up 38.3% compared to the same quarter last year. On average, sell-side analysts anticipate 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 on Monday, July 29th. The shares were sold at an average price of $46.16, for a total value of $1,117,072.00. Following the completion of the sale, the chief financial officer now directly owns 149,108 shares of the company’s stock, valued at $6,882,825.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Tri Pointe Homes news, CFO Glenn J. Keeler sold 24,200 shares of the stock in a transaction on Monday, July 29th. The shares were sold at an average price of $46.16, for a total value of $1,117,072.00. Following the completion of the sale, the chief financial officer now directly owns 149,108 shares of the company’s stock, valued at $6,882,825.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, General Counsel David Ch Lee sold 5,000 shares of the 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 directly owns 85,792 shares of the company’s stock, valued at approximately $3,798,869.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TPH. Wedbush reiterated a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a research note on Thursday, July 25th. Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target on the stock in a research note on Tuesday, September 17th. Evercore ISI upgraded shares of Tri Pointe Homes to a “strong-buy” rating in a research note on Friday, July 26th. Royal Bank of Canada increased their price target on shares of 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 price target on shares of Tri Pointe Homes from $54.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.25.

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.