Swiss National Bank Sells 2,800 Shares of Tri Pointe Homes Inc. $TPH

Swiss National Bank cut its position in Tri Pointe Homes Inc. (NYSE:TPH) by 1.5% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 181,247 shares of the construction company’s stock after selling 2,800 shares during the quarter. Swiss National Bank owned approximately 0.20% of Tri Pointe Homes worth $5,785,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. raised its position in shares of Tri Pointe Homes by 9.4% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,272 shares of the construction company’s stock valued at $296,000 after purchasing an additional 800 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Tri Pointe Homes by 57.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,880 shares of the construction company’s stock valued at $252,000 after purchasing an additional 2,875 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Tri Pointe Homes by 2.9% in the 1st quarter. Principal Financial Group Inc. now owns 500,398 shares of the construction company’s stock valued at $15,973,000 after purchasing an additional 14,298 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Tri Pointe Homes in the 1st quarter valued at approximately $300,000. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Tri Pointe Homes by 3.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 27,396 shares of the construction company’s stock valued at $874,000 after purchasing an additional 801 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

TPH has been the subject of a number of recent research reports. Wall Street Zen lowered shares of Tri Pointe Homes from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Wedbush reaffirmed an “outperform” rating and set a $43.00 price objective on shares of Tri Pointe Homes in a research note on Friday, July 25th. Wolfe Research cut shares of Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research note on Sunday, July 27th. Finally, Evercore ISI dropped their price target on shares of 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 analyst has rated the stock with a sell rating, three have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.80.

Tri Pointe Homes Trading Down 0.7%

Shares of TPH stock opened at $34.65 on Tuesday. The company’s 50-day moving average price is $32.57 and its 200-day moving average price is $31.92. The company has a current ratio of 1.79, a quick ratio of 1.79 and a debt-to-equity ratio of 0.28. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 8.82, a PEG ratio of 0.95 and a beta of 1.22. Tri Pointe Homes Inc. has a twelve month low of $27.90 and a twelve month high of $46.91.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.11. The firm had revenue of $884.01 million for the quarter, compared to analyst estimates of $810.77 million. Tri Pointe Homes had a net margin of 9.22% and a return on equity of 11.33%. Tri Pointe Homes’s revenue was down 22.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.25 EPS. As a group, equities analysts predict 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 repurchase plan on Thursday, July 24th that permits the company to repurchase $50.00 million in shares. This repurchase authorization permits the construction company to repurchase up to 1.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors 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.