Quest Partners LLC Trims Stock Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Quest Partners LLC reduced its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 24.6% during the third quarter, Holdings Channel reports. The institutional investor owned 47,745 shares of the construction company’s stock after selling 15,579 shares during the period. Quest Partners LLC’s holdings in Tri Pointe Homes were worth $2,163,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in TPH. GSA Capital Partners LLP lifted its holdings in Tri Pointe Homes by 4.4% during 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 lifted its stake in shares of Tri Pointe Homes by 0.3% during the 3rd quarter. Empowered Funds LLC now owns 99,346 shares of the construction company’s stock valued at $4,501,000 after buying an additional 265 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in Tri Pointe Homes by 1.5% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,094 shares of the construction company’s stock worth $959,000 after buying an additional 376 shares during the period. Blue Trust Inc. increased its stake in Tri Pointe Homes by 31.7% in the 2nd quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock worth $69,000 after buying an additional 427 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its holdings in Tri Pointe Homes by 7.1% during the second quarter. Evergreen Capital Management LLC now owns 7,863 shares of the construction company’s stock valued at $293,000 after acquiring an additional 519 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wedbush reaffirmed a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Zelman & Associates raised shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective for the company in a report on Tuesday, September 17th. Oppenheimer lowered their target price 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. Evercore ISI upgraded shares of Tri Pointe Homes to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Royal Bank of Canada reduced 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. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $45.75.

Insider Transactions at Tri Pointe Homes

In related news, General Counsel David Ch Lee sold 5,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the sale, the general counsel now directly owns 85,792 shares of the company’s stock, valued at $3,798,869.76. This represents a 5.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.50% of the company’s stock.

Tri Pointe Homes Stock Down 0.6 %

Shares of TPH opened at $41.56 on Tuesday. The business’s 50 day simple moving average is $43.33 and its 200-day simple moving average is $41.46. Tri Pointe Homes, Inc. has a 1 year low of $28.74 and a 1 year high of $47.78. The stock has a market capitalization of $3.89 billion, a price-to-earnings ratio of 8.62, a price-to-earnings-growth ratio of 0.68 and a beta of 1.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the firm posted $0.76 earnings per share. The firm’s revenue for the quarter was up 34.9% on a year-over-year basis. As a group, equities analysts expect that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current fiscal year.

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.