Sequoia Financial Advisors LLC Takes $392,000 Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Sequoia Financial Advisors LLC purchased a new stake in Tri Pointe Homes, Inc. (NYSE:TPH) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 11,084 shares of the construction company’s stock, valued at approximately $392,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. raised its stake in shares of Tri Pointe Homes by 15.1% in the 3rd quarter. Invesco Ltd. now owns 1,042,993 shares of the construction company’s stock valued at $28,526,000 after acquiring an additional 137,175 shares during the period. TD Asset Management Inc grew its holdings in shares of Tri Pointe Homes by 73.3% in the third quarter. TD Asset Management Inc now owns 80,400 shares of the construction company’s stock valued at $2,199,000 after purchasing an additional 34,000 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Tri Pointe Homes by 30.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 6,728 shares of the construction company’s stock valued at $184,000 after purchasing an additional 1,569 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Tri Pointe Homes by 26.9% in the third quarter. Assenagon Asset Management S.A. now owns 727,045 shares of the construction company’s stock valued at $19,885,000 after purchasing an additional 153,994 shares in the last quarter. Finally, Summit Global Investments grew its holdings in shares of Tri Pointe Homes by 269.2% in the third quarter. Summit Global Investments now owns 33,663 shares of the construction company’s stock valued at $921,000 after purchasing an additional 24,546 shares in the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TPH has been the subject of a number of research reports. Wedbush restated a “neutral” rating and issued a $32.00 price objective on shares of Tri Pointe Homes in a report on Tuesday, February 20th. Oppenheimer restated an “outperform” rating and issued a $41.00 price objective (up previously from $36.00) on shares of Tri Pointe Homes in a report on Wednesday, February 21st. Finally, Royal Bank of Canada upgraded shares of Tri Pointe Homes from a “sector perform” rating to an “outperform” rating and set a $38.00 price target for the company in a report on Wednesday, March 13th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Tri Pointe Homes has a consensus rating of “Moderate Buy” and an average target price of $38.20.

Tri Pointe Homes Trading Down 1.4 %

NYSE TPH opened at $34.50 on Thursday. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.46. Tri Pointe Homes, Inc. has a 52 week low of $24.18 and a 52 week high of $39.08. The stock has a market capitalization of $3.29 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 0.74 and a beta of 1.54. The firm has a 50 day moving average of $35.68 and a two-hundred day moving average of $32.52.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Tuesday, February 20th. The construction company reported $1.36 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.24. The business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.20 billion. Tri Pointe Homes had a net margin of 9.37% and a return on equity of 11.75%. The company’s revenue was down 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.98 EPS. As a group, research analysts expect that Tri Pointe Homes, Inc. will post 3.65 EPS for the current fiscal year.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 51,533 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the completion of the sale, the chief operating officer now owns 785,543 shares in the company, valued at approximately $27,666,824.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

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.