Millennium Management LLC Reduces Stake in Tri Pointe Homes Inc. $TPH

Millennium Management LLC reduced its position in Tri Pointe Homes Inc. (NYSE:TPH) by 32.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 737,075 shares of the construction company’s stock after selling 356,748 shares during the period. Millennium Management LLC owned about 0.81% of Tri Pointe Homes worth $23,527,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Captrust Financial Advisors grew its holdings in Tri Pointe Homes by 8.5% during the 4th quarter. Captrust Financial Advisors now owns 7,517 shares of the construction company’s stock valued at $273,000 after buying an additional 586 shares during the last quarter. Deutsche Bank AG grew its holdings in Tri Pointe Homes by 35.2% during the 4th quarter. Deutsche Bank AG now owns 199,406 shares of the construction company’s stock valued at $7,230,000 after buying an additional 51,937 shares during the last quarter. D. E. Shaw & Co. Inc. grew its holdings in Tri Pointe Homes by 131.8% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 177,959 shares of the construction company’s stock valued at $6,453,000 after buying an additional 101,180 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Tri Pointe Homes by 7.6% during the 4th quarter. Janus Henderson Group PLC now owns 42,376 shares of the construction company’s stock valued at $1,536,000 after buying an additional 3,000 shares during the last quarter. Finally, Lazard Asset Management LLC grew its holdings in Tri Pointe Homes by 68.5% during the 4th quarter. Lazard Asset Management LLC now owns 87,846 shares of the construction company’s stock valued at $3,184,000 after buying an additional 35,725 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Trading Down 2.9%

Shares of TPH opened at $35.32 on Friday. The stock’s 50-day moving average is $34.09 and its two-hundred day moving average is $32.09. The stock has a market cap of $3.20 billion, a PE ratio of 8.99, a P/E/G ratio of 0.99 and a beta of 1.27. Tri Pointe Homes Inc. has a 12 month low of $27.90 and a 12 month 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.

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 the consensus estimate 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 business had revenue of $884.01 million for the quarter, compared to analysts’ expectations of $810.77 million. During the same quarter in the previous year, the firm posted $1.25 earnings per share. The company’s revenue was down 22.3% compared to the same quarter last year. Equities analysts forecast that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its board has approved a stock buyback program on Thursday, July 24th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 1.6% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Analyst Upgrades and Downgrades

TPH has been the topic of a number of analyst reports. Evercore ISI lowered their target price on Tri Pointe Homes from $39.00 to $38.00 and set an “outperform” rating on the stock in a report on Friday, July 25th. Wall Street Zen upgraded Tri Pointe Homes from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Wedbush restated an “outperform” rating and set a $43.00 price objective on shares of Tri Pointe Homes in a report on Friday, July 25th. Finally, Wolfe Research cut Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a report on Sunday, July 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Tri Pointe Homes has an average rating of “Moderate Buy” and a consensus price target of $40.80.

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.