KBC Group NV Buys 1,690 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

KBC Group NV boosted its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 65.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,254 shares of the construction company’s stock after purchasing an additional 1,690 shares during the period. KBC Group NV’s holdings in Tri Pointe Homes were worth $154,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GSA Capital Partners LLP grew its holdings in shares of Tri Pointe Homes by 4.4% in the third quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company’s stock worth $280,000 after purchasing an additional 258 shares during the last quarter. Empowered Funds LLC grew its holdings in Tri Pointe Homes by 0.3% in the 3rd quarter. Empowered Funds LLC now owns 99,346 shares of the construction company’s stock worth $4,501,000 after acquiring an additional 265 shares during the last quarter. Park Avenue Securities LLC increased its position in shares of 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 valued at $232,000 after acquiring an additional 444 shares during the period. First Trust Direct Indexing L.P. boosted its holdings in shares of Tri Pointe Homes by 9.4% during the third quarter. First Trust Direct Indexing L.P. now owns 6,266 shares of the construction company’s stock worth $284,000 after purchasing an additional 541 shares during the period. Finally, Blue Trust Inc. grew its stake in shares of Tri Pointe Homes by 33.5% in the third quarter. Blue Trust Inc. now owns 2,368 shares of the construction company’s stock worth $107,000 after purchasing an additional 594 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Stock Down 0.6 %

Shares of NYSE:TPH opened at $36.49 on Friday. The firm has a market capitalization of $3.41 billion, a P/E ratio of 7.57, a P/E/G ratio of 0.59 and a beta of 1.64. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a 50 day moving average price of $37.95 and a 200-day moving average price of $41.42. Tri Pointe Homes, Inc. has a 52-week low of $33.24 and a 52-week high of $47.78.

Tri Pointe Homes declared that its Board of Directors has initiated a share buyback plan on Wednesday, December 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the completion of the transaction, the chief operating officer now owns 708,159 shares of the company’s stock, valued at approximately $27,724,424.85. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Wedbush restated a “neutral” rating and set a $42.00 target price on shares of Tri Pointe Homes in a report on Thursday, October 24th. Oppenheimer dropped their price target on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Finally, Royal Bank of Canada decreased their price objective on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Three 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. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $45.75.

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.