Tri Pointe Homes, Inc. (NYSE:TPH) Shares Sold by Grantham Mayo Van Otterloo & Co. LLC

Grantham Mayo Van Otterloo & Co. LLC cut its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 9.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,079 shares of the construction company’s stock after selling 3,391 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Tri Pointe Homes were worth $1,199,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in TPH. Pacer Advisors Inc. acquired a new position in shares of Tri Pointe Homes during the fourth quarter valued at $118,407,000. Norges Bank bought a new stake in Tri Pointe Homes in the 4th quarter valued at about $14,815,000. Raymond James Financial Inc. acquired a new position in Tri Pointe Homes during the 4th quarter valued at about $13,342,000. Boston Partners bought a new position in Tri Pointe Homes in the 4th quarter worth about $8,888,000. Finally, American Century Companies Inc. increased its stake in shares of Tri Pointe Homes by 14.0% in the fourth quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company’s stock valued at $70,579,000 after purchasing an additional 238,807 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Seaport Res Ptn upgraded Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Evercore ISI reduced their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Wedbush reissued a “neutral” rating and set a $38.00 price target (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Oppenheimer reduced their price objective on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

Tri Pointe Homes Price Performance

NYSE:TPH opened at $30.17 on Tuesday. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The business’s 50-day moving average price is $33.14 and its 200 day moving average price is $38.10. Tri Pointe Homes, Inc. has a 52-week low of $29.91 and a 52-week high of $47.78. The firm has a market cap of $2.77 billion, a P/E ratio of 6.25, a PEG ratio of 0.67 and a beta of 1.44.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.07. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The company had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. As a group, sell-side analysts predict that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its board has authorized a stock repurchase program on Wednesday, December 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to repurchase up to 7.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

About Tri Pointe Homes

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.