Hennion & Walsh Asset Management Inc. Increases Stock Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Hennion & Walsh Asset Management Inc. boosted its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 34.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,661 shares of the construction company’s stock after acquiring an additional 1,949 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Tri Pointe Homes were worth $278,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TPH. Burney Co. boosted its stake in shares of Tri Pointe Homes by 61.1% during the 4th quarter. Burney Co. now owns 64,217 shares of the construction company’s stock valued at $2,329,000 after purchasing an additional 24,358 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Tri Pointe Homes by 7.4% in the fourth quarter. Park Avenue Securities LLC now owns 6,412 shares of the construction company’s stock worth $232,000 after buying an additional 444 shares during the period. Elevated Capital Advisors LLC bought a new stake in Tri Pointe Homes during the 4th quarter valued at approximately $233,000. Oliver Luxxe Assets LLC grew its holdings in shares of Tri Pointe Homes by 6.7% during the 4th quarter. Oliver Luxxe Assets LLC now owns 41,695 shares of the construction company’s stock worth $1,512,000 after acquiring an additional 2,625 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Tri Pointe Homes by 1.4% during the 3rd quarter. Franklin Resources Inc. now owns 712,673 shares of the construction company’s stock worth $31,971,000 after acquiring an additional 9,542 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.50% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TPH has been the subject of a number of research analyst reports. Royal Bank of Canada lowered their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Oppenheimer lowered their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. StockNews.com downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Wedbush reissued a “neutral” rating and set a $42.00 price target on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Three equities research 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $45.75.

Tri Pointe Homes Price Performance

Shares of NYSE:TPH opened at $37.17 on Wednesday. The business has a fifty day moving average price of $39.20 and a 200-day moving average price of $41.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. The company has a market capitalization of $3.48 billion, a PE ratio of 7.71, a PEG ratio of 0.60 and a beta of 1.64. Tri Pointe Homes, Inc. has a 1-year low of $33.24 and a 1-year high of $47.78.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. Tri Pointe Homes’s revenue was up 34.9% compared to the same quarter last year. During the same period last year, the business earned $0.76 EPS. As a group, equities analysts expect that Tri Pointe Homes, Inc. will post 4.72 EPS for the current fiscal year.

Tri Pointe Homes announced that its board has approved a stock repurchase plan on Wednesday, December 18th that allows the company to buyback $250.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 7.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors 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.