Mackenzie Financial Corp Decreases Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Mackenzie Financial Corp lowered its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 7.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,464 shares of the construction company’s stock after selling 2,005 shares during the quarter. Mackenzie Financial Corp’s holdings in Tri Pointe Homes were worth $866,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Phocas Financial Corp. lifted its position in shares of Tri Pointe Homes by 1.9% during the 4th quarter. Phocas Financial Corp. now owns 245,139 shares of the construction company’s stock worth $8,678,000 after buying an additional 4,453 shares during the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Tri Pointe Homes during the 4th quarter worth approximately $1,720,000. Cerity Partners LLC purchased a new stake in shares of Tri Pointe Homes during the 4th quarter worth approximately $206,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Tri Pointe Homes during the 4th quarter worth approximately $392,000. Finally, Nisa Investment Advisors LLC lifted its position in shares of Tri Pointe Homes by 105.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,362 shares of the construction company’s stock worth $48,000 after buying an additional 700 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock opened at $36.80 on Friday. The firm’s fifty day simple moving average is $35.73 and its 200-day simple moving average is $32.86. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 10.67, a PEG 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 company has a debt-to-equity ratio of 0.46, a current ratio of 2.11 and a quick ratio of 2.11.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TPH. Oppenheimer restated an “outperform” rating and set a $41.00 price objective (up previously from $36.00) on shares of Tri Pointe Homes in a research report on Wednesday, February 21st. Royal Bank of Canada upgraded shares of Tri Pointe Homes from a “sector perform” rating to an “outperform” rating and set a $38.00 price objective for the company in a research report on Wednesday, March 13th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $35.00 target price on shares of Tri Pointe Homes in a report on Thursday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Tri Pointe Homes presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.80.

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 51,533 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $35.22, for a total value of $1,814,992.26. Following the transaction, the chief operating officer now directly owns 785,543 shares of the company’s stock, valued at approximately $27,666,824.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.

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.