Fisher Asset Management LLC Decreases Stake in Tri Pointe Homes Inc. $TPH

Fisher Asset Management LLC cut its stake in Tri Pointe Homes Inc. (NYSE:TPH) by 92.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,531 shares of the construction company’s stock after selling 423,968 shares during the period. Fisher Asset Management LLC’s holdings in Tri Pointe Homes were worth $1,207,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of TPH. AQR Capital Management LLC lifted its stake in shares of Tri Pointe Homes by 353.2% during the second quarter. AQR Capital Management LLC now owns 687,307 shares of the construction company’s stock worth $21,788,000 after buying an additional 535,640 shares during the period. AE Wealth Management LLC increased its position in shares of Tri Pointe Homes by 4,456.8% in the 2nd quarter. AE Wealth Management LLC now owns 348,918 shares of the construction company’s stock valued at $11,148,000 after acquiring an additional 341,261 shares during the period. Boston Partners raised its stake in Tri Pointe Homes by 60.3% in the 2nd quarter. Boston Partners now owns 820,492 shares of the construction company’s stock worth $26,217,000 after acquiring an additional 308,751 shares during the last quarter. M&G PLC purchased a new position in Tri Pointe Homes in the 2nd quarter worth $9,646,000. Finally, American Century Companies Inc. lifted its position in Tri Pointe Homes by 13.3% during the 2nd quarter. American Century Companies Inc. now owns 2,502,818 shares of the construction company’s stock worth $79,965,000 after acquiring an additional 293,652 shares during the period. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on TPH shares. Citizens Jmp started coverage on Tri Pointe Homes in a report on Wednesday, January 7th. They issued a “market outperform” rating and a $46.00 price objective on the stock. Oppenheimer downgraded Tri Pointe Homes from an “outperform” rating to a “market perform” rating in a report on Friday, February 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tri Pointe Homes in a research report on Tuesday, January 27th. Citigroup started coverage on shares of Tri Pointe Homes in a report on Wednesday, January 7th. They issued an “outperform” rating on the stock. Finally, Royal Bank Of Canada raised their price target on shares of Tri Pointe Homes from $31.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 17th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Tri Pointe Homes currently has a consensus rating of “Hold” and a consensus price target of $42.50.

Tri Pointe Homes Stock Up 0.0%

Shares of TPH opened at $46.37 on Friday. The firm has a market cap of $3.95 billion, a P/E ratio of 17.05, a PEG ratio of 1.38 and a beta of 1.34. Tri Pointe Homes Inc. has a 12 month low of $27.90 and a 12 month high of $46.62. The stock’s 50 day moving average is $37.97 and its two-hundred day moving average is $34.95. The company has a current ratio of 2.63, a quick ratio of 2.63 and a debt-to-equity ratio of 0.33.

Tri Pointe Homes (NYSE:TPH) last announced its earnings results 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. Tri Pointe Homes had a return on equity of 7.96% and a net margin of 7.09%.The business had revenue of $972.63 million during the quarter, compared to the consensus estimate of $917.86 million. During the same period in the prior year, the company posted $1.37 EPS. The business’s quarterly revenue was down 22.5% on a year-over-year basis. Analysts predict that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Steven J. Gilbert sold 50,000 shares of the business’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 sale, the director owned 30,330 shares of the company’s stock, valued at approximately $1,405,188.90. The trade was a 62.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.70% of the company’s stock.

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.