New York State Common Retirement Fund Reduces Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

New York State Common Retirement Fund lowered its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 15.5% during the fourth quarter, HoldingsChannel reports. The firm owned 80,747 shares of the construction company’s stock after selling 14,800 shares during the period. New York State Common Retirement Fund’s holdings in Tri Pointe Homes were worth $2,858,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Daiwa Securities Group Inc. purchased a new position in Tri Pointe Homes during the fourth quarter worth approximately $35,000. Nisa Investment Advisors LLC grew its holdings in shares of Tri Pointe Homes by 105.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,362 shares of the construction company’s stock valued at $48,000 after purchasing an additional 700 shares during the period. Blue Trust Inc. increased its position in Tri Pointe Homes by 73.8% during the fourth quarter. Blue Trust Inc. now owns 1,766 shares of the construction company’s stock worth $63,000 after purchasing an additional 750 shares during the last quarter. Planned Solutions Inc. purchased a new position in Tri Pointe Homes during the fourth quarter worth about $113,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Tri Pointe Homes by 30.4% in the 3rd 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 last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TPH. Wedbush restated a “neutral” rating and set a $35.00 price target on shares of Tri Pointe Homes in a report on Thursday, April 25th. Royal Bank of Canada lifted their price target on shares of Tri Pointe Homes from $38.00 to $42.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. StockNews.com upgraded shares of Tri Pointe Homes from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Finally, Oppenheimer upped their price target on Tri Pointe Homes from $41.00 to $46.00 and gave the stock an “outperform” rating in a research note on Friday, April 26th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Insiders Place Their Bets

In other news, COO Thomas J. Mitchell sold 51,533 shares of the firm’s stock in a transaction dated 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 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 available through this hyperlink. 2.50% of the stock is owned by company insiders.

Tri Pointe Homes Trading Up 1.5 %

Shares of TPH stock opened at $39.57 on Tuesday. Tri Pointe Homes, Inc. has a fifty-two week low of $24.18 and a fifty-two week high of $40.13. The company has a 50 day moving average price of $36.15 and a 200 day moving average price of $33.53. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.99 and a current ratio of 1.99. The stock has a market capitalization of $3.75 billion, a P/E ratio of 10.55, a price-to-earnings-growth ratio of 0.67 and a beta of 1.54.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results on Thursday, April 25th. The construction company reported $1.03 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.34. The firm had revenue of $918.40 million for the quarter, compared to analysts’ expectations of $867.77 million. Tri Pointe Homes had a net margin of 9.62% and a return on equity of 12.39%. The firm’s revenue was up 19.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.73 earnings per share. Equities research analysts predict that Tri Pointe Homes, Inc. will post 4.49 EPS for the current fiscal year.

Tri Pointe Homes 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.