JPMorgan Chase & Co. Sells 122,225 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

JPMorgan Chase & Co. reduced its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 17.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 576,780 shares of the construction company’s stock after selling 122,225 shares during the period. JPMorgan Chase & Co. owned about 0.62% of Tri Pointe Homes worth $26,134,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in TPH. Reston Wealth Management LLC bought a new stake in shares of Tri Pointe Homes in the 3rd quarter valued at about $45,000. Blue Trust Inc. grew its position in Tri Pointe Homes by 33.5% during the 3rd quarter. Blue Trust Inc. now owns 2,368 shares of the construction company’s stock worth $107,000 after acquiring an additional 594 shares during the last quarter. Quarry LP increased its stake in Tri Pointe Homes by 123.3% in the 2nd quarter. Quarry LP now owns 2,401 shares of the construction company’s stock worth $89,000 after purchasing an additional 1,326 shares during the period. GAMMA Investing LLC lifted its position in Tri Pointe Homes by 75.6% in the third quarter. GAMMA Investing LLC now owns 2,669 shares of the construction company’s stock valued at $121,000 after purchasing an additional 1,149 shares during the last quarter. Finally, CWM LLC boosted its stake in shares of Tri Pointe Homes by 39.3% during the third quarter. CWM LLC now owns 3,092 shares of the construction company’s stock valued at $140,000 after purchasing an additional 872 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the completion of the sale, the chief operating officer now owns 708,159 shares in the company, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is owned by insiders.

Analysts Set New Price Targets

TPH has been the topic of several analyst reports. StockNews.com downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective on the stock in a research report on Tuesday, September 17th. Royal Bank of Canada cut their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Wedbush reaffirmed a “neutral” rating and set a $42.00 price target on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Finally, Oppenheimer dropped their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.75.

Tri Pointe Homes Stock Performance

TPH stock opened at $35.07 on Wednesday. The stock’s 50 day simple moving average is $40.16 and its 200 day simple moving average is $41.76. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. Tri Pointe Homes, Inc. has a 12-month low of $33.24 and a 12-month high of $47.78. The stock has a market capitalization of $3.28 billion, a PE ratio of 7.28, a price-to-earnings-growth ratio of 0.64 and a beta of 1.64.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, topping the consensus estimate of $1.07 by $0.11. The company had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. Tri Pointe Homes’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same period last year, the company earned $0.76 EPS. As a group, research analysts forecast that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 18th that allows the company to buyback $250.00 million in shares. This buyback authorization allows the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

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.