Burr Financial Services LLC Buys 8,570 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Burr Financial Services LLC boosted its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 73.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 20,170 shares of the construction company’s stock after purchasing an additional 8,570 shares during the quarter. Tri Pointe Homes makes up 0.6% of Burr Financial Services LLC’s portfolio, making the stock its 18th biggest holding. Burr Financial Services LLC’s holdings in Tri Pointe Homes were worth $914,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Assenagon Asset Management S.A. grew its position in Tri Pointe Homes by 260.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock valued at $64,216,000 after purchasing an additional 1,024,425 shares during the last quarter. Millennium Management LLC grew its holdings in shares of Tri Pointe Homes by 14.1% during the second quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock valued at $34,475,000 after buying an additional 114,244 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Tri Pointe Homes by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company’s stock valued at $34,135,000 after buying an additional 31,041 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in shares of Tri Pointe Homes by 149.5% during the second quarter. Cubist Systematic Strategies LLC now owns 534,406 shares of the construction company’s stock valued at $19,907,000 after buying an additional 320,221 shares during the last quarter. Finally, Renaissance Technologies LLC grew its holdings in shares of Tri Pointe Homes by 1,417.8% during the second quarter. Renaissance Technologies LLC now owns 443,736 shares of the construction company’s stock valued at $16,529,000 after buying an additional 414,500 shares during the last quarter. Institutional investors own 97.01% of the company’s stock.

Insider Activity at Tri Pointe Homes

In related news, General Counsel David Ch Lee sold 5,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the completion of the transaction, the general counsel now directly owns 85,792 shares of the company’s stock, valued at approximately $3,798,869.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.50% of the stock is owned by corporate insiders.

Tri Pointe Homes Stock Performance

NYSE:TPH opened at $40.50 on Thursday. The firm has a market capitalization of $3.79 billion, a PE ratio of 8.40, a P/E/G ratio of 0.66 and a beta of 1.59. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a 50-day simple moving average of $43.88 and a two-hundred day simple moving average of $40.96. Tri Pointe Homes, Inc. has a 52-week low of $24.74 and a 52-week high of $47.78.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the company earned $0.76 earnings per share. The firm’s revenue was up 34.9% on a year-over-year basis. Analysts forecast that Tri Pointe Homes, Inc. will post 4.68 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on TPH. Royal Bank of Canada cut their price target on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Oppenheimer cut their price target on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target on the stock in a report on Tuesday, September 17th. Evercore ISI upgraded shares of Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Finally, Wedbush reiterated a “neutral” rating and set a $42.00 price objective on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Tri Pointe Homes has a consensus rating of “Moderate Buy” and an average price target of $45.75.

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.