Los Angeles Capital Management LLC Cuts Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Los Angeles Capital Management LLC lowered its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 35.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 38,108 shares of the construction company’s stock after selling 20,671 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Tri Pointe Homes were worth $1,382,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of TPH. Creative Planning grew its position in Tri Pointe Homes by 39.3% in the third quarter. Creative Planning now owns 18,813 shares of the construction company’s stock valued at $852,000 after acquiring an additional 5,310 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Tri Pointe Homes in the third quarter valued at $226,000. First Trust Direct Indexing L.P. grew its holdings in Tri Pointe Homes by 9.4% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,266 shares of the construction company’s stock valued at $284,000 after purchasing an additional 541 shares in the last quarter. Reston Wealth Management LLC purchased a new stake in Tri Pointe Homes during the 3rd quarter worth $45,000. Finally, Innealta Capital LLC increased its stake in Tri Pointe Homes by 24.9% during the 3rd quarter. Innealta Capital LLC now owns 4,905 shares of the construction company’s stock worth $222,000 after buying an additional 978 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TPH. Royal Bank of Canada downgraded shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from $41.00 to $37.00 in a research note on Wednesday, February 19th. Wedbush reaffirmed a “neutral” rating and set a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Oppenheimer dropped 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 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. Finally, 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. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $40.60.

Tri Pointe Homes Stock Up 1.3 %

NYSE TPH opened at $31.63 on Friday. 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’s 50 day simple moving average is $35.57 and its 200 day simple moving average is $40.25. Tri Pointe Homes, Inc. has a 12 month low of $30.25 and a 12 month high of $47.78. The company has a market capitalization of $2.91 billion, a P/E ratio of 6.55, a PEG ratio of 0.67 and a beta of 1.64.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Equities research analysts expect 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 authorized a stock buyback plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 7.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other news, COO Thomas J. Mitchell sold 77,384 shares of the business’s stock in a transaction that occurred on 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 sale, the chief operating officer now owns 708,159 shares in the company, valued at $27,724,424.85. The trade was a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

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.