Tri Pointe Homes Inc. $TPH Shares Sold by Invesco Ltd.

Invesco Ltd. cut its position in shares of Tri Pointe Homes Inc. (NYSE:TPH) by 53.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 492,983 shares of the construction company’s stock after selling 575,090 shares during the quarter. Invesco Ltd. owned 0.54% of Tri Pointe Homes worth $15,736,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. CWM LLC lifted its position in shares of Tri Pointe Homes by 67.8% in the 1st quarter. CWM LLC now owns 3,797 shares of the construction company’s stock worth $121,000 after buying an additional 1,534 shares during the last quarter. Covestor Ltd lifted its holdings in Tri Pointe Homes by 327.8% in the first quarter. Covestor Ltd now owns 3,884 shares of the construction company’s stock worth $124,000 after acquiring an additional 2,976 shares during the last quarter. Tower Research Capital LLC TRC boosted 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 valued at $130,000 after acquiring an additional 1,445 shares during the period. Hancock Whitney Corp grew its holdings in shares of Tri Pointe Homes by 8.3% during the fourth quarter. Hancock Whitney Corp now owns 5,779 shares of the construction company’s stock valued at $210,000 after purchasing an additional 442 shares during the last quarter. Finally, Elevated Capital Advisors LLC raised its position in shares of Tri Pointe Homes by 9.3% during the 1st quarter. Elevated Capital Advisors LLC now owns 7,034 shares of the construction company’s stock worth $225,000 after purchasing an additional 599 shares during the period. Institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Stock Performance

Shares of TPH opened at $36.1550 on Friday. The firm has a market capitalization of $3.28 billion, a PE ratio of 9.20, a P/E/G ratio of 0.93 and a beta of 1.22. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The firm has a 50-day moving average price of $32.88 and a 200 day moving average price of $31.94. Tri Pointe Homes Inc. has a 52-week low of $27.90 and a 52-week high of $46.91.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings results on Thursday, July 24th. The construction company reported $0.77 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.11. The company had revenue of $884.01 million for the quarter, compared to the consensus estimate 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. On average, sell-side analysts anticipate that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has initiated a share repurchase plan on Thursday, July 24th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the construction company to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Wall Street Zen lowered Tri Pointe Homes from a “hold” rating to a “sell” rating in a research report on Saturday, July 26th. Wolfe Research lowered shares of Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research report on Sunday, July 27th. Wedbush reaffirmed an “outperform” rating and issued a $43.00 price objective on shares of Tri Pointe Homes in a report on Friday, July 25th. Finally, Evercore ISI reduced their target price on shares of Tri Pointe Homes from $39.00 to $38.00 and set an “outperform” rating for the company in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $40.80.

Tri Pointe Homes Company 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.