Tri Pointe Homes, Inc. (NYSE:TPH) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 6.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 168,378 shares of the construction company’s stock after selling 10,868 shares during the period. Envestnet Asset Management Inc. owned 0.18% of Tri Pointe Homes worth $6,105,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Pacer Advisors Inc. acquired a new position in shares of Tri Pointe Homes during the 4th quarter valued at about $118,407,000. Norges Bank purchased a new stake in shares of Tri Pointe Homes in the 4th quarter valued at approximately $14,815,000. Raymond James Financial Inc. acquired a new stake in shares of Tri Pointe Homes during the 4th quarter worth approximately $13,342,000. Boston Partners purchased a new stake in shares of Tri Pointe Homes during the 4th quarter valued at approximately $8,888,000. Finally, American Century Companies Inc. grew its position in Tri Pointe Homes by 14.0% in the fourth quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company’s stock worth $70,579,000 after acquiring an additional 238,807 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TPH has been the topic of several recent analyst reports. Royal Bank of Canada lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. Oppenheimer reduced their price target on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Wedbush reiterated a “neutral” rating and issued a $38.00 target price (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Evercore ISI decreased their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, Seaport Res Ptn raised Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $40.60.

Tri Pointe Homes Trading Up 0.0 %

NYSE:TPH opened at $29.58 on Tuesday. The stock has a fifty day moving average price of $31.46 and a 200 day moving average price of $36.87. The company has a current ratio of 2.24, 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 $27.90 and a 12-month high of $47.78. The firm has a market cap of $2.71 billion, a PE ratio of 6.12, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Sell-side analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

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.