Burney Co. Has $1.19 Million Stock Holdings in Tri Pointe Homes Inc. $TPH

Burney Co. decreased its holdings in shares of Tri Pointe Homes Inc. (NYSE:TPH) by 10.1% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 37,311 shares of the construction company’s stock after selling 4,206 shares during the period. Burney Co.’s holdings in Tri Pointe Homes were worth $1,192,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Xponance Inc. raised its holdings in Tri Pointe Homes by 5.0% during the first quarter. Xponance Inc. now owns 7,095 shares of the construction company’s stock worth $226,000 after buying an additional 336 shares during the last quarter. GAMMA Investing LLC raised its holdings in Tri Pointe Homes by 19.6% during the second quarter. GAMMA Investing LLC now owns 2,377 shares of the construction company’s stock worth $76,000 after buying an additional 389 shares during the last quarter. Blue Trust Inc. raised its holdings in Tri Pointe Homes by 16.6% during the second quarter. Blue Trust Inc. now owns 2,982 shares of the construction company’s stock worth $95,000 after buying an additional 424 shares during the last quarter. Atria Investments Inc raised its holdings in Tri Pointe Homes by 2.1% during the second quarter. Atria Investments Inc now owns 20,685 shares of the construction company’s stock worth $661,000 after buying an additional 427 shares during the last quarter. Finally, Federated Hermes Inc. raised its holdings in Tri Pointe Homes by 0.8% during the first quarter. Federated Hermes Inc. now owns 55,975 shares of the construction company’s stock worth $1,787,000 after buying an additional 430 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wedbush restated an “outperform” rating and set a $43.00 price objective on shares of Tri Pointe Homes in a report on Friday, July 25th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tri Pointe Homes in a research note on Thursday, October 30th. Evercore ISI reiterated an “in-line” rating and issued a $34.00 target price (down previously from $38.00) on shares of Tri Pointe Homes in a research note on Tuesday, October 7th. Wall Street Zen upgraded shares of Tri Pointe Homes from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Wolfe Research lowered shares of Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research note on Sunday, July 27th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.25.

Tri Pointe Homes Stock Performance

NYSE TPH opened at $31.51 on Wednesday. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 9.30, a PEG ratio of 0.83 and a beta of 1.30. The company has a fifty day moving average price of $33.70 and a 200-day moving average price of $32.60. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.01 and a quick ratio of 2.01. Tri Pointe Homes Inc. has a 1 year low of $27.90 and a 1 year high of $45.28.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Thursday, October 23rd. The construction company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.20. The company had revenue of $836.87 million during the quarter, compared to analyst estimates of $782.22 million. Tri Pointe Homes had a net margin of 8.44% and a return on equity of 9.79%. The firm’s revenue for the quarter was down 26.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.18 earnings per share. As a group, equities research analysts predict that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes declared that its board has authorized a stock buyback plan on Thursday, July 24th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to reacquire up to 1.6% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are 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.