Tri Pointe Homes, Inc. (NYSE:TPH) Stake Raised by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D boosted its holdings in Tri Pointe Homes, Inc. (NYSE:TPH) by 15.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 50,340 shares of the construction company’s stock after acquiring an additional 6,707 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.05% of Tri Pointe Homes worth $1,825,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of TPH. GSA Capital Partners LLP grew its stake in shares of Tri Pointe Homes by 4.4% in the 3rd quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company’s stock valued at $280,000 after buying an additional 258 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Tri Pointe Homes by 0.3% in the 3rd quarter. Empowered Funds LLC now owns 99,346 shares of the construction company’s stock valued at $4,501,000 after buying an additional 265 shares in the last quarter. Highland Capital Management LLC grew its stake in shares of Tri Pointe Homes by 6.7% in the 4th quarter. Highland Capital Management LLC now owns 5,852 shares of the construction company’s stock valued at $212,000 after buying an additional 368 shares in the last quarter. Park Avenue Securities LLC grew its stake in shares of Tri Pointe Homes by 7.4% in the 4th quarter. Park Avenue Securities LLC now owns 6,412 shares of the construction company’s stock valued at $232,000 after buying an additional 444 shares in the last quarter. Finally, First Trust Direct Indexing L.P. grew its stake in shares of Tri Pointe Homes by 9.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,266 shares of the construction company’s stock valued at $284,000 after buying an additional 541 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Tri Pointe Homes Trading Up 3.8 %

NYSE:TPH opened at $32.65 on Wednesday. Tri Pointe Homes, Inc. has a fifty-two week low of $30.25 and a fifty-two week high of $47.78. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64. The stock has a market capitalization of $3.06 billion, a PE ratio of 6.76, a price-to-earnings-growth ratio of 0.67 and a beta of 1.64. The business’s 50-day simple moving average is $36.01 and its 200-day simple moving average is $40.50.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.30 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. Sell-side analysts expect that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Wedbush reaffirmed a “neutral” rating and set a $38.00 target price (down previously from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Royal Bank of Canada cut Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. Oppenheimer decreased their target price on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Finally, Evercore ISI decreased their target price on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Tri Pointe Homes has an average rating of “Hold” and a consensus target price of $40.60.

Insider Buying and Selling at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of the company’s 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 completion of the sale, the chief operating officer now directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

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.