Charles Schwab Investment Management Inc. Sells 16,632 Shares of Tri Pointe Homes Inc. $TPH

Charles Schwab Investment Management Inc. lowered its position in shares of Tri Pointe Homes Inc. (NYSE:TPH) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,148,911 shares of the construction company’s stock after selling 16,632 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.27% of Tri Pointe Homes worth $36,673,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Sumitomo Mitsui Trust Group Inc. increased its position in shares of Tri Pointe Homes by 9.4% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,272 shares of the construction company’s stock valued at $296,000 after acquiring an additional 800 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Tri Pointe Homes by 57.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,880 shares of the construction company’s stock valued at $252,000 after acquiring an additional 2,875 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Tri Pointe Homes by 2.9% during the first quarter. Principal Financial Group Inc. now owns 500,398 shares of the construction company’s stock valued at $15,973,000 after acquiring an additional 14,298 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Tri Pointe Homes during the first quarter valued at approximately $300,000. Finally, Oppenheimer Asset Management Inc. increased its position in shares of Tri Pointe Homes by 3.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 27,396 shares of the construction company’s stock valued at $874,000 after acquiring an additional 801 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Wolfe Research downgraded shares of Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research report on Sunday, July 27th. Wedbush reiterated an “outperform” rating and set a $43.00 target price on shares of Tri Pointe Homes in a research note on Friday, July 25th. Wall Street Zen cut Tri Pointe Homes from a “hold” rating to a “sell” rating in a report on Saturday, July 26th. Finally, Evercore ISI dropped 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tri Pointe Homes presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.80.

Tri Pointe Homes Stock Performance

TPH stock opened at $34.65 on Tuesday. The company has a market cap of $3.14 billion, a P/E ratio of 8.82, a price-to-earnings-growth ratio of 0.95 and a beta of 1.22. Tri Pointe Homes Inc. has a 1 year low of $27.90 and a 1 year high of $46.91. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.79 and a quick ratio of 1.79. The stock’s fifty day moving average price is $32.57 and its 200-day moving average price is $31.92.

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

Tri Pointe Homes declared that its board has authorized a stock buyback 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 repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board believes its shares are undervalued.

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.