US Bancorp DE Trims Holdings in Tri Pointe Homes Inc. $TPH

US Bancorp DE cut its holdings in Tri Pointe Homes Inc. (NYSE:TPH) by 5.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,327 shares of the construction company’s stock after selling 2,413 shares during the quarter. US Bancorp DE’s holdings in Tri Pointe Homes were worth $1,225,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. American Century Companies Inc. grew its position in shares of Tri Pointe Homes by 13.5% in the 1st quarter. American Century Companies Inc. now owns 2,209,166 shares of the construction company’s stock worth $70,517,000 after buying an additional 262,695 shares during the period. LSV Asset Management grew its position in Tri Pointe Homes by 4.8% during the 1st quarter. LSV Asset Management now owns 1,762,922 shares of the construction company’s stock valued at $56,272,000 after purchasing an additional 80,198 shares during the last quarter. Nuveen LLC purchased a new stake in Tri Pointe Homes during the 1st quarter valued at about $43,906,000. Allianz Asset Management GmbH grew its position in Tri Pointe Homes by 54.8% during the 1st quarter. Allianz Asset Management GmbH now owns 1,255,057 shares of the construction company’s stock valued at $40,061,000 after purchasing an additional 444,153 shares during the last quarter. Finally, Royce & Associates LP grew its position in Tri Pointe Homes by 7.1% during the 1st quarter. Royce & Associates LP now owns 577,303 shares of the construction company’s stock valued at $18,428,000 after purchasing an additional 38,223 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Tri Pointe Homes Price Performance

TPH opened at $31.85 on Friday. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.79 and a current ratio of 1.79. The stock has a market capitalization of $2.89 billion, a P/E ratio of 8.10, a P/E/G ratio of 0.87 and a beta of 1.30. The company’s 50-day simple moving average is $34.32 and its two-hundred day simple moving average is $32.34. 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 posted its earnings results 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 business had revenue of $884.01 million for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.25 EPS. As a group, analysts predict that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes declared that its board has initiated a stock buyback plan on Thursday, July 24th that authorizes the company to buyback $50.00 million in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

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.