Martingale Asset Management L P Takes Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Martingale Asset Management L P purchased a new stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 32,174 shares of the construction company’s stock, valued at approximately $1,458,000.

Several other large investors have also modified their holdings of the stock. Assenagon Asset Management S.A. boosted its stake in shares of Tri Pointe Homes by 260.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock worth $64,216,000 after acquiring an additional 1,024,425 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Tri Pointe Homes by 11.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,165,651 shares of the construction company’s stock worth $52,816,000 after acquiring an additional 115,099 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Tri Pointe Homes by 14.1% during the 2nd quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock worth $34,475,000 after acquiring an additional 114,244 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Tri Pointe Homes by 3.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company’s stock worth $34,135,000 after acquiring an additional 31,041 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Tri Pointe Homes by 0.8% during the 3rd quarter. Fisher Asset Management LLC now owns 725,537 shares of the construction company’s stock worth $32,874,000 after acquiring an additional 6,079 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

Insider Transactions at Tri Pointe Homes

In related news, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the sale, the general counsel now directly owns 85,792 shares of the company’s stock, valued at $3,798,869.76. This trade represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on TPH shares. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price for the company in a research report on Tuesday, September 17th. Oppenheimer decreased their target price on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Royal Bank of Canada decreased their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Tri Pointe Homes has a consensus rating of “Moderate Buy” and an average price target of $45.75.

Tri Pointe Homes Price Performance

NYSE TPH opened at $43.53 on Monday. Tri Pointe Homes, Inc. has a fifty-two week low of $28.74 and a fifty-two week high of $47.78. The stock’s 50-day moving average is $43.14 and its two-hundred day moving average is $41.70. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. The firm has a market cap of $4.07 billion, a P/E ratio of 9.03, a price-to-earnings-growth ratio of 0.71 and a beta of 1.60.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.76 earnings per share. On average, analysts anticipate that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current fiscal year.

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.