PNC Financial Services Group Inc. Trims Holdings in Tri Pointe Homes Inc. (NYSE:TPH)

PNC Financial Services Group Inc. decreased its holdings in Tri Pointe Homes Inc. (NYSE:TPH) by 4.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,925 shares of the construction company’s stock after selling 404 shares during the period. PNC Financial Services Group Inc.’s holdings in Tri Pointe Homes were worth $285,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Sterling Capital Management LLC increased its stake in Tri Pointe Homes by 729.5% in the fourth quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company’s stock worth $75,000 after purchasing an additional 1,831 shares during the period. Tower Research Capital LLC TRC increased its stake in Tri Pointe Homes by 67.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,578 shares of the construction company’s stock worth $130,000 after purchasing an additional 1,445 shares during the period. CWM LLC increased its stake in Tri Pointe Homes by 67.8% in the first quarter. CWM LLC now owns 3,797 shares of the construction company’s stock worth $121,000 after purchasing an additional 1,534 shares during the period. Hancock Whitney Corp increased its stake in Tri Pointe Homes by 8.3% in the fourth quarter. Hancock Whitney Corp now owns 5,779 shares of the construction company’s stock worth $210,000 after purchasing an additional 442 shares during the period. Finally, PharVision Advisers LLC purchased a new stake in Tri Pointe Homes in the fourth quarter worth $242,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on TPH shares. Wolfe Research lowered Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research note on Sunday, July 27th. Wedbush restated an “outperform” rating and set a $43.00 price target on shares of Tri Pointe Homes in a research note on Friday, July 25th. Wall Street Zen lowered Tri Pointe Homes from a “hold” rating to a “sell” rating in a research note on Saturday, July 26th. Finally, Evercore ISI cut their price target on Tri Pointe Homes from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, July 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $40.80.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock opened at $35.03 on Friday. The firm has a market cap of $3.18 billion, a P/E ratio of 8.91, a P/E/G ratio of 0.95 and a beta of 1.22. The company has a current ratio of 1.79, a quick ratio of 1.79 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 $46.91. The stock’s fifty day moving average price is $32.49 and its 200-day moving average price is $31.97.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.11. Tri Pointe Homes had a return on equity of 11.33% and a net margin of 9.22%. The company had revenue of $884.01 million for the quarter, compared to the consensus estimate of $810.77 million. During the same quarter last year, the company earned $1.25 earnings per share. The firm’s revenue for the quarter was down 22.3% compared to the same quarter last year. On average, equities research analysts expect that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has authorized a share repurchase plan on Thursday, July 24th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to buy up to 1.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are 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.