Connor Clark & Lunn Investment Management Ltd. Has $2.74 Million Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Connor Clark & Lunn Investment Management Ltd. trimmed its holdings in Tri Pointe Homes, Inc. (NYSE:TPH) by 52.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,636 shares of the construction company’s stock after selling 83,217 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Tri Pointe Homes were worth $2,743,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atria Investments Inc increased its holdings in Tri Pointe Homes by 30.0% in the third quarter. Atria Investments Inc now owns 15,839 shares of the construction company’s stock worth $718,000 after purchasing an additional 3,653 shares in the last quarter. GSA Capital Partners LLP increased its stake in shares of Tri Pointe Homes by 4.4% in the 3rd quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company’s stock valued at $280,000 after acquiring an additional 258 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Tri Pointe Homes by 3.7% in the 3rd quarter. Victory Capital Management Inc. now owns 282,612 shares of the construction company’s stock valued at $12,805,000 after acquiring an additional 10,116 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in Tri Pointe Homes by 80.9% during the third quarter. Oppenheimer Asset Management Inc. now owns 26,042 shares of the construction company’s stock worth $1,180,000 after acquiring an additional 11,649 shares in the last quarter. Finally, OneDigital Investment Advisors LLC bought a new position in Tri Pointe Homes during the third quarter worth $217,000. Institutional investors own 97.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada lowered shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. Wedbush reiterated a “neutral” rating and issued a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Oppenheimer decreased their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Seaport Res Ptn upgraded Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Finally, StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $40.60.

Tri Pointe Homes Stock Down 0.8 %

Shares of NYSE:TPH opened at $31.29 on Tuesday. The business’s 50 day moving average is $34.57 and its 200 day moving average is $39.34. Tri Pointe Homes, Inc. has a 12-month low of $30.25 and a 12-month high of $47.78. The stock has a market cap of $2.87 billion, a price-to-earnings ratio of 6.48, a PEG ratio of 0.67 and a beta of 1.71. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data 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 firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. On average, sell-side analysts forecast that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its board has approved a stock buyback program on Wednesday, December 18th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.