Maryland State Retirement & Pension System Has $851,000 Position in Tri Pointe Homes Inc. $TPH

Maryland State Retirement & Pension System lessened its holdings in Tri Pointe Homes Inc. (NYSE:TPH) by 2.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,646 shares of the construction company’s stock after selling 695 shares during the period. Maryland State Retirement & Pension System’s holdings in Tri Pointe Homes were worth $851,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. SG Americas Securities LLC purchased a new stake in Tri Pointe Homes in the 1st quarter worth about $300,000. Wealth Enhancement Advisory Services LLC increased its holdings 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 period. Exchange Traded Concepts LLC purchased a new stake in shares of Tri Pointe Homes in the first quarter worth approximately $1,024,000. Oppenheimer Asset Management Inc. boosted its holdings 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 worth $874,000 after purchasing an additional 801 shares during the period. Finally, Elevated Capital Advisors LLC boosted its holdings in shares of Tri Pointe Homes by 9.3% during the first 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. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $43.00 price objective on shares of Tri Pointe Homes in a research note on Friday, July 25th. Evercore ISI reaffirmed an “in-line” rating and issued a $34.00 price target (down from $38.00) on shares of Tri Pointe Homes in a research note on Tuesday, October 7th. Wolfe Research cut Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research report on Sunday, July 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Tri Pointe Homes in a research note on Wednesday, October 8th. Finally, Wall Street Zen raised Tri Pointe Homes from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Tri Pointe Homes presently has an average rating of “Moderate Buy” and a consensus target price of $39.25.

Tri Pointe Homes Stock Down 2.0%

TPH stock opened at $30.99 on Monday. The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 7.89, a price-to-earnings-growth ratio of 0.84 and a beta of 1.30. The company has a 50-day moving average of $34.42 and a two-hundred day moving average of $32.35. Tri Pointe Homes Inc. has a 52-week low of $27.90 and a 52-week 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 announced its earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.11. The firm had revenue of $884.01 million during 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 firm’s revenue for the quarter was down 22.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.25 EPS. As a group, equities research analysts anticipate 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 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 buy up to 1.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s leadership 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.