OFI Invest Asset Management Acquires New Position in Tri Pointe Homes, Inc. (NYSE:TPH)

OFI Invest Asset Management acquired a new stake in Tri Pointe Homes, Inc. (NYSE:TPH) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 36,000 shares of the construction company’s stock, valued at approximately $1,261,000.

Several other large investors have also bought and sold shares of the business. GSA Capital Partners LLP increased its stake in Tri Pointe Homes by 4.4% in the third quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company’s stock valued at $280,000 after purchasing an additional 258 shares in the last quarter. Empowered Funds LLC increased its stake in Tri Pointe Homes by 0.3% in the third quarter. Empowered Funds LLC now owns 99,346 shares of the construction company’s stock valued at $4,501,000 after purchasing an additional 265 shares in the last quarter. Assetmark Inc. increased its stake in Tri Pointe Homes by 19.6% in the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock valued at $66,000 after purchasing an additional 300 shares in the last quarter. Highland Capital Management LLC increased its position in shares of Tri Pointe Homes by 6.7% during the fourth quarter. Highland Capital Management LLC now owns 5,852 shares of the construction company’s stock worth $212,000 after acquiring an additional 368 shares in the last quarter. Finally, Park Avenue Securities LLC increased its position in shares of Tri Pointe Homes by 7.4% during the fourth quarter. Park Avenue Securities LLC now owns 6,412 shares of the construction company’s stock worth $232,000 after acquiring an additional 444 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Tri Pointe Homes Stock Performance

Shares of TPH stock opened at $32.75 on Monday. The stock has a market cap of $3.01 billion, a P/E ratio of 6.78, a P/E/G ratio of 0.67 and a beta of 1.71. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64. The company has a fifty day moving average price of $35.08 and a two-hundred day moving average price of $39.89. Tri Pointe Homes, Inc. has a one year low of $30.25 and a one year high of $47.78.

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

Tri Pointe Homes announced that its board has initiated a share 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 reacquire up to 7.3% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on TPH shares. Seaport Res Ptn raised shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Evercore ISI lowered their price objective on shares of 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. StockNews.com downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Oppenheimer reduced their target price 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, Wedbush restated a “neutral” rating and set a $38.00 target price (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.60.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the completion of the sale, the chief operating officer now owns 708,159 shares in the company, valued at approximately $27,724,424.85. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.00% of the stock is currently owned by corporate insiders.

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.