Arizona State Retirement System Sells 829 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Arizona State Retirement System reduced its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 2.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 27,673 shares of the construction company’s stock after selling 829 shares during the quarter. Arizona State Retirement System’s holdings in Tri Pointe Homes were worth $980,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of TPH. Arrowstreet Capital Limited Partnership raised its holdings in Tri Pointe Homes by 1,387.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,906,274 shares of the construction company’s stock worth $48,267,000 after purchasing an additional 1,778,149 shares during the period. Pacer Advisors Inc. lifted its position in shares of Tri Pointe Homes by 63.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,913,521 shares of the construction company’s stock valued at $138,539,000 after acquiring an additional 1,524,401 shares in the last quarter. Norges Bank purchased a new position in shares of Tri Pointe Homes in the fourth quarter valued at about $17,632,000. Balyasny Asset Management LLC lifted its position in shares of Tri Pointe Homes by 404.3% in the third quarter. Balyasny Asset Management LLC now owns 704,772 shares of the construction company’s stock valued at $10,649,000 after acquiring an additional 565,011 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Tri Pointe Homes by 73.2% in the first quarter. Renaissance Technologies LLC now owns 883,736 shares of the construction company’s stock valued at $17,745,000 after acquiring an additional 373,400 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

Tri Pointe Homes Price Performance

NYSE:TPH opened at $34.98 on Wednesday. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $3.34 billion, a P/E ratio of 10.14, a P/E/G ratio of 0.76 and a beta of 1.54. Tri Pointe Homes, Inc. has a 12 month low of $24.18 and a 12 month high of $39.08. The business’s 50-day moving average is $35.68 and its 200 day moving average is $32.50.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Tuesday, February 20th. The construction company reported $1.36 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.24. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.20 billion. Tri Pointe Homes had a return on equity of 11.75% and a net margin of 9.37%. The firm’s revenue for the quarter was down 17.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.98 earnings per share. On average, equities research analysts forecast that Tri Pointe Homes, Inc. will post 3.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 51,533 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the sale, the chief operating officer now directly owns 785,543 shares of the company’s stock, valued at $27,666,824.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TPH. Wedbush restated a “neutral” rating and issued a $32.00 price objective on shares of Tri Pointe Homes in a research report on Tuesday, February 20th. Oppenheimer restated an “outperform” rating and issued a $41.00 price objective (up from $36.00) on shares of Tri Pointe Homes in a research report on Wednesday, February 21st. Finally, Royal Bank of Canada upgraded Tri Pointe Homes from a “sector perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research report on Wednesday, March 13th. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.20.

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.