ProShare Advisors LLC Trims Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

ProShare Advisors LLC decreased its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 23.8% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 14,786 shares of the construction company’s stock after selling 4,629 shares during the period. ProShare Advisors LLC’s holdings in Tri Pointe Homes were worth $551,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Hancock Whitney Corp bought a new stake in shares of Tri Pointe Homes during the second quarter valued at about $206,000. Sei Investments Co. grew its stake in Tri Pointe Homes by 8.0% during the second quarter. Sei Investments Co. now owns 154,888 shares of the construction company’s stock valued at $5,770,000 after acquiring an additional 11,522 shares in the last quarter. AE Wealth Management LLC increased its holdings in Tri Pointe Homes by 17.5% during the 2nd quarter. AE Wealth Management LLC now owns 251,141 shares of the construction company’s stock worth $9,355,000 after acquiring an additional 37,318 shares during the period. Public Employees Retirement Association of Colorado lifted its stake in Tri Pointe Homes by 291.3% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 4,340 shares of the construction company’s stock worth $162,000 after purchasing an additional 3,231 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Tri Pointe Homes by 240.6% in the 2nd quarter. Hsbc Holdings PLC now owns 77,856 shares of the construction company’s stock valued at $2,886,000 after purchasing an additional 54,999 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Stock Up 0.7 %

Shares of NYSE TPH opened at $45.31 on Tuesday. The stock has a market capitalization of $4.24 billion, a P/E ratio of 12.08, a PEG ratio of 0.74 and a beta of 1.59. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29. Tri Pointe Homes, Inc. has a one year low of $24.18 and a one year high of $47.78. The firm’s 50 day simple moving average is $43.57 and its two-hundred day simple moving average is $39.92.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Thursday, July 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.16. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. Tri Pointe Homes’s quarterly revenue was up 38.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.60 earnings per share. As a group, analysts expect that Tri Pointe Homes, Inc. will post 4.68 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel David Ch Lee sold 5,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the sale, the general counsel now directly owns 85,792 shares of the company’s stock, valued at approximately $3,798,869.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CFO Glenn J. Keeler sold 24,200 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the sale, the chief financial officer now directly owns 149,108 shares of the company’s stock, valued at approximately $6,882,825.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel David Ch Lee sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the completion of the transaction, the general counsel now owns 85,792 shares in the company, valued at approximately $3,798,869.76. The disclosure for this sale can be found here. 2.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on TPH. Evercore ISI raised shares of Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Zelman & Associates upgraded Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price on the stock in a research note on Tuesday, September 17th. Oppenheimer lifted their price target on Tri Pointe Homes from $46.00 to $54.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Wedbush restated a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a research report on Thursday, July 25th. Finally, Royal Bank of Canada lifted their target price on shares of Tri Pointe Homes from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.75.

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.