Principal Financial Group Inc. Reduces Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Posted by Defense World Staff on May 26th, 2023

Principal Financial Group Inc. decreased its position in Tri Pointe Homes, Inc. (NYSE:TPH – Get Rating) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 635,868 shares of the construction company’s stock after selling 20,240 shares during the period. Principal Financial Group Inc. owned 0.63% of Tri Pointe Homes worth $11,821,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. State of New Jersey Common Pension Fund D purchased a new stake in shares of Tri Pointe Homes in the 4th quarter valued at approximately $2,373,000. Nomura Holdings Inc. lifted its holdings in shares of Tri Pointe Homes by 54.0% in the 3rd quarter. Nomura Holdings Inc. now owns 118,050 shares of the construction company’s stock worth $1,784,000 after acquiring an additional 41,417 shares during the last quarter. Dean Investment Associates LLC lifted its holdings in shares of Tri Pointe Homes by 16.8% in the 3rd quarter. Dean Investment Associates LLC now owns 296,113 shares of the construction company’s stock worth $4,474,000 after acquiring an additional 42,698 shares during the last quarter. ProShare Advisors LLC lifted its holdings in shares of Tri Pointe Homes by 14.7% in the 4th quarter. ProShare Advisors LLC now owns 15,925 shares of the construction company’s stock worth $296,000 after acquiring an additional 2,036 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in shares of Tri Pointe Homes by 11.0% in the 3rd quarter. Victory Capital Management Inc. now owns 300,564 shares of the construction company’s stock worth $4,542,000 after acquiring an additional 29,714 shares during the last quarter. Hedge funds and other institutional investors own 99.41% of the company’s stock.

Tri Pointe Homes Trading Up 1.2 %

NYSE TPH opened at $29.21 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.24 and a quick ratio of 2.24. The firm’s fifty day moving average price is $27.02 and its 200 day moving average price is $22.75. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 5.32, a price-to-earnings-growth ratio of 0.72 and a beta of 1.45. Tri Pointe Homes, Inc. has a 12 month low of $14.59 and a 12 month high of $31.00.

Tri Pointe Homes (NYSE:TPH – Get Rating) last posted its earnings results on Thursday, April 27th. The construction company reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.41 by $0.32. The firm had revenue of $768.40 million for the quarter, compared to the consensus estimate of $586.76 million. Tri Pointe Homes had a net margin of 12.97% and a return on equity of 20.83%. The company’s revenue was up 5.9% on a year-over-year basis. During the same period last year, the firm posted $0.81 EPS. On average, sell-side analysts expect that Tri Pointe Homes, Inc. will post 3.07 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tri Pointe Homes news, CEO Douglas F. Bauer sold 19,076 shares of the firm’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $29.24, for a total transaction of $557,782.24. Following the transaction, the chief executive officer now directly owns 423,514 shares of the company’s stock, valued at approximately $12,383,549.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

TPH has been the topic of a number of analyst reports. StockNews.com initiated coverage on shares of Tri Pointe Homes in a report on Thursday, May 18th. They issued a “buy” rating on the stock. Wedbush raised their price objective on shares of Tri Pointe Homes from $27.00 to $30.00 in a report on Friday, April 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Tri Pointe Homes presently has an average rating of “Hold” and an average price target of $22.00.

Tri Pointe Homes Company Profile

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Tri Pointe Homes, Inc designs, constructs, and sells single-family homes and condominiums. It operates through the Homebuilding and Financial Services segments. The Homebuilding segment consists of six reportable segments: Maracay Homes, consisting of operations in Arizona, Pardee Homes, consisting of operations in California and Nevada, Quadrant Homes, consisting of operations in Washington, Trendmaker Homes, consisting of operations in Texas, TRI Pointe Homes, consisting of operations in California and Colorado, and Winchester Homes, consisting of operations in Maryland and Virginia.