Tri Pointe Homes Inc. $TPH Shares Bought by Belpointe Asset Management LLC

Belpointe Asset Management LLC raised its holdings in Tri Pointe Homes Inc. (NYSE:TPH) by 25.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,189 shares of the construction company’s stock after purchasing an additional 2,058 shares during the quarter. Belpointe Asset Management LLC’s holdings in Tri Pointe Homes were worth $325,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. American Century Companies Inc. increased its stake in Tri Pointe Homes by 13.5% in the first quarter. American Century Companies Inc. now owns 2,209,166 shares of the construction company’s stock valued at $70,517,000 after purchasing an additional 262,695 shares during the period. LSV Asset Management increased its stake in shares of Tri Pointe Homes by 4.8% during the first quarter. LSV Asset Management now owns 1,762,922 shares of the construction company’s stock worth $56,272,000 after acquiring an additional 80,198 shares during the period. Nuveen Asset Management LLC increased its stake in shares of Tri Pointe Homes by 3.0% during the fourth quarter. Nuveen Asset Management LLC now owns 1,736,288 shares of the construction company’s stock worth $62,958,000 after acquiring an additional 49,916 shares during the period. Nuveen LLC acquired a new position in shares of Tri Pointe Homes during the first quarter worth about $43,906,000. Finally, Allianz Asset Management GmbH increased its stake in shares of Tri Pointe Homes by 54.8% during the first quarter. Allianz Asset Management GmbH now owns 1,255,057 shares of the construction company’s stock worth $40,061,000 after acquiring an additional 444,153 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Tri Pointe Homes Stock Performance

NYSE:TPH opened at $35.32 on Monday. 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 company has a market cap of $3.20 billion, a P/E ratio of 8.99, a P/E/G ratio of 0.95 and a beta of 1.27. Tri Pointe Homes Inc. has a fifty-two week low of $27.90 and a fifty-two week high of $46.91. The firm’s 50 day moving average is $34.09 and its two-hundred day moving average is $32.10.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.11. The company had revenue of $884.01 million during 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%. The business’s quarterly revenue was down 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 earnings per share. Analysts expect that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. 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. Wall Street Zen upgraded shares of Tri Pointe Homes from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Wolfe Research lowered shares of Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research note on Sunday, July 27th. Finally, Wedbush reissued an “outperform” rating and set a $43.00 price objective on shares of Tri Pointe Homes in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Tri Pointe Homes currently 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.