Cerity Partners LLC Invests $206,000 in Tri Pointe Homes, Inc. (NYSE:TPH)

Cerity Partners LLC purchased a new stake in Tri Pointe Homes, Inc. (NYSE:TPH) during the 4th quarter, Holdings Channel.com reports. The fund purchased 5,808 shares of the construction company’s stock, valued at approximately $206,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. increased its position in shares of Tri Pointe Homes by 15.1% in the third quarter. Invesco Ltd. now owns 1,042,993 shares of the construction company’s stock worth $28,526,000 after acquiring an additional 137,175 shares in the last quarter. TD Asset Management Inc increased its holdings in Tri Pointe Homes by 73.3% in the 3rd quarter. TD Asset Management Inc now owns 80,400 shares of the construction company’s stock valued at $2,199,000 after purchasing an additional 34,000 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Tri Pointe Homes by 30.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,728 shares of the construction company’s stock valued at $184,000 after purchasing an additional 1,569 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Tri Pointe Homes by 26.9% during the third quarter. Assenagon Asset Management S.A. now owns 727,045 shares of the construction company’s stock worth $19,885,000 after purchasing an additional 153,994 shares in the last quarter. Finally, Richard Bernstein Advisors LLC purchased a new stake in shares of Tri Pointe Homes in the third quarter worth about $4,886,000. 97.01% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, COO Thomas J. Mitchell sold 51,533 shares of the stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the transaction, the chief operating officer now owns 785,543 shares of the company’s stock, valued at $27,666,824.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.50% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Oppenheimer raised their target price on Tri Pointe Homes from $41.00 to $46.00 and gave the company an “outperform” rating in a report on Friday. StockNews.com raised shares of Tri Pointe Homes from a “hold” rating to a “buy” rating in a research report on Friday. Wedbush restated a “neutral” rating and issued a $35.00 target price on shares of Tri Pointe Homes in a research note on Thursday, April 25th. Finally, Royal Bank of Canada lifted their price target on shares of Tri Pointe Homes from $38.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.60.

Tri Pointe Homes Price Performance

TPH stock opened at $37.75 on Tuesday. The stock’s 50 day moving average is $35.85 and its two-hundred day moving average is $33.09. Tri Pointe Homes, Inc. has a 52-week low of $24.18 and a 52-week high of $39.08. The company has a market capitalization of $3.58 billion, a PE ratio of 10.07, a P/E/G ratio of 0.80 and a beta of 1.54. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.45.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Thursday, April 25th. The construction company reported $1.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.34. The business had revenue of $918.40 million during the quarter, compared to analyst estimates of $867.77 million. Tri Pointe Homes had a net margin of 9.62% and a return on equity of 12.39%. The business’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.73 earnings per share. Analysts predict that Tri Pointe Homes, Inc. will post 3.65 earnings per share for the current fiscal year.

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.