PNC Financial Services Group Inc. Purchases 3,588 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

PNC Financial Services Group Inc. increased its position in shares of Tri Pointe Homes, Inc. (NYSE:TPHFree Report) by 94.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,407 shares of the construction company’s stock after purchasing an additional 3,588 shares during the period. PNC Financial Services Group Inc.’s holdings in Tri Pointe Homes were worth $262,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Daiwa Securities Group Inc. purchased a new stake in Tri Pointe Homes in the 4th quarter worth $35,000. GAMMA Investing LLC purchased a new stake in shares of Tri Pointe Homes during the fourth quarter worth about $41,000. Nisa Investment Advisors LLC raised its stake in 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 valued at $48,000 after purchasing an additional 700 shares during the period. Blue Trust Inc. lifted its holdings in Tri Pointe Homes by 73.8% in the 4th quarter. Blue Trust Inc. now owns 1,766 shares of the construction company’s stock worth $63,000 after purchasing an additional 750 shares in the last quarter. Finally, Quadrant Capital Group LLC boosted its stake in Tri Pointe Homes by 21.5% in the 4th quarter. Quadrant Capital Group LLC now owns 2,748 shares of the construction company’s stock worth $97,000 after purchasing an additional 487 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Insider Activity 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 transaction of $1,814,992.26. Following the transaction, the chief operating officer now owns 785,543 shares in the company, valued at $27,666,824.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 51,533 shares of the firm’s stock in a transaction dated 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 completion of the sale, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Douglas F. Bauer sold 56,567 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $39.78, for a total value of $2,250,235.26. Following the transaction, the chief executive officer now directly owns 677,816 shares in the company, valued at approximately $26,963,520.48. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

TPH has been the topic of several research analyst reports. Wedbush reissued a “neutral” rating and issued a $35.00 target price on shares of Tri Pointe Homes in a report on Thursday, April 25th. Royal Bank of Canada boosted 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, April 26th. Oppenheimer raised their price objective on Tri Pointe Homes from $41.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Finally, StockNews.com upgraded Tri Pointe Homes from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Tri Pointe Homes currently has an average rating of “Moderate Buy” and an average price target of $40.25.

Check Out Our Latest Stock Report on Tri Pointe Homes

Tri Pointe Homes Price Performance

TPH stock opened at $38.34 on Friday. The company has a fifty day simple moving average of $37.80 and a two-hundred day simple moving average of $35.35. Tri Pointe Homes, Inc. has a 52 week low of $24.18 and a 52 week high of $40.98. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $3.64 billion, a P/E ratio of 10.22, a price-to-earnings-growth ratio of 0.65 and a beta of 1.55.

Tri Pointe Homes (NYSE:TPHGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The construction company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.69 by $0.34. Tri Pointe Homes had a return on equity of 12.39% and a net margin of 9.62%. The company had revenue of $918.40 million during the quarter, compared to analyst estimates of $867.77 million. During the same quarter last year, the business posted $0.73 earnings per share. The firm’s revenue was up 19.5% on a year-over-year basis. Analysts anticipate that Tri Pointe Homes, Inc. will post 4.49 earnings per share for the current fiscal year.

Tri Pointe Homes Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Tri Pointe Homes (NYSE:TPH)

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