Burney Co. Raises Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Burney Co. boosted its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 61.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 64,217 shares of the construction company’s stock after buying an additional 24,358 shares during the period. Burney Co.’s holdings in Tri Pointe Homes were worth $2,329,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TPH. Acadian Asset Management LLC acquired a new stake in shares of Tri Pointe Homes in the second quarter worth approximately $271,000. Federated Hermes Inc. lifted its holdings in Tri Pointe Homes by 10,048.1% in the 2nd quarter. Federated Hermes Inc. now owns 35,011 shares of the construction company’s stock valued at $1,304,000 after purchasing an additional 34,666 shares in the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in Tri Pointe Homes during the 2nd quarter worth $536,000. Envestnet Asset Management Inc. grew its holdings in shares of Tri Pointe Homes by 95.0% during the second quarter. Envestnet Asset Management Inc. now owns 123,365 shares of the construction company’s stock worth $4,595,000 after buying an additional 60,093 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Tri Pointe Homes in the second quarter valued at about $324,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Insider Buying and Selling at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 77,384 shares of the company’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 value of $3,029,583.60. Following the transaction, the chief operating officer now directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on TPH shares. Oppenheimer lowered 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 research report on Friday, October 25th. Wedbush restated a “neutral” rating and set a $42.00 target price on shares of Tri Pointe Homes in a report on Thursday, October 24th. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Royal Bank of Canada reduced their price objective on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Three analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.75.

Tri Pointe Homes Stock Performance

Tri Pointe Homes stock opened at $37.37 on Thursday. The firm has a 50 day simple moving average of $39.60 and a 200-day simple moving average of $41.70. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 7.75, a price-to-earnings-growth ratio of 0.55 and a beta of 1.64. 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, Inc. has a 1-year low of $33.24 and a 1-year high of $47.78.

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 during the quarter, compared to analyst estimates of $1.05 billion. During the same period in the prior year, the business posted $0.76 earnings per share. The firm’s revenue for the quarter was up 34.9% compared to the same quarter last year. On average, analysts expect that Tri Pointe Homes, Inc. will post 4.72 EPS for the current year.

Tri Pointe Homes declared that its board has approved a share repurchase 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 purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Tri Pointe Homes Company 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.