JPMorgan Chase & Co. Raises Stock Position in Tri Pointe Homes Inc. $TPH

JPMorgan Chase & Co. lifted its holdings in shares of Tri Pointe Homes Inc. (NYSE:TPH) by 14.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,008,454 shares of the construction company’s stock after purchasing an additional 130,855 shares during the quarter. JPMorgan Chase & Co. owned about 1.17% of Tri Pointe Homes worth $34,257,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Harbor Capital Advisors Inc. grew its holdings in shares of Tri Pointe Homes by 45.2% in the third quarter. Harbor Capital Advisors Inc. now owns 1,108 shares of the construction company’s stock valued at $38,000 after purchasing an additional 345 shares in the last quarter. Fulcrum Asset Management LLP purchased a new position in Tri Pointe Homes in the 3rd quarter valued at approximately $44,000. Farther Finance Advisors LLC boosted its position in Tri Pointe Homes by 306.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,383 shares of the construction company’s stock valued at $47,000 after buying an additional 1,043 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Tri Pointe Homes by 33.4% in the third quarter. Nisa Investment Advisors LLC now owns 1,601 shares of the construction company’s stock worth $54,000 after acquiring an additional 401 shares in the last quarter. Finally, Pinnacle Holdings LLC acquired a new position in shares of Tri Pointe Homes in the third quarter worth $64,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Insiders Place Their Bets

In other Tri Pointe Homes news, Director Steven J. Gilbert sold 50,000 shares of the company’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $46.33, for a total value of $2,316,500.00. Following the completion of the transaction, the director owned 30,330 shares in the company, valued at $1,405,188.90. This represents a 62.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 3.20% of the stock is currently owned by company insiders.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock opened at $46.61 on Monday. The company has a quick ratio of 2.63, a current ratio of 2.63 and a debt-to-equity ratio of 0.33. Tri Pointe Homes Inc. has a 52 week low of $27.90 and a 52 week high of $46.67. The firm’s 50 day moving average is $40.85 and its two-hundred day moving average is $35.74. The firm has a market capitalization of $3.97 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.39 and a beta of 1.34.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Wednesday, February 25th. The construction company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.02. The business had revenue of $972.63 million during the quarter, compared to the consensus estimate of $917.86 million. Tri Pointe Homes had a net margin of 7.09% and a return on equity of 7.96%. The company’s revenue was down 22.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.37 EPS. Research analysts forecast that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TPH. Oppenheimer cut Tri Pointe Homes from an “outperform” rating to a “market perform” rating in a research note on Friday, February 13th. Citizens Jmp began coverage on Tri Pointe Homes in a report on Wednesday, January 7th. They set a “market outperform” rating and a $46.00 price target on the stock. Royal Bank Of Canada increased their price target on Tri Pointe Homes from $31.00 to $47.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tri Pointe Homes in a research note on Tuesday, January 27th. Finally, Citigroup initiated coverage on Tri Pointe Homes in a research report on Wednesday, January 7th. They set an “outperform” rating for the company. Three investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $42.50.

Tri Pointe Homes Profile

Tri Pointe Homes, Inc (NYSE: TPH) is a national homebuilder engaged in the acquisition, development, construction, marketing and sale of single-family detached homes and attached products. The company’s operations span a range of new residential communities, offering customizable floor plans in both tract and luxury segments. Its integrated business model encompasses land sourcing, entitlement, design, construction oversight and in-house customer care and warranty service.

Founded in 2009 through the combination of three regional builders, Tri Pointe Homes has grown into a prominent player across key western U.S.