Burr Financial Services LLC Lowers Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Burr Financial Services LLC reduced its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 42.5% during the 4th quarter, HoldingsChannel reports. The firm owned 11,600 shares of the construction company’s stock after selling 8,570 shares during the period. Tri Pointe Homes comprises about 0.3% of Burr Financial Services LLC’s investment portfolio, making the stock its 24th largest holding. Burr Financial Services LLC’s holdings in Tri Pointe Homes were worth $421,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its stake in shares of Tri Pointe Homes by 260.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock valued at $64,216,000 after buying an additional 1,024,425 shares during the period. Weiss Asset Management LP purchased a new position in Tri Pointe Homes during the 3rd quarter valued at about $16,066,000. Cubist Systematic Strategies LLC raised its holdings in shares of Tri Pointe Homes by 149.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 534,406 shares of the construction company’s stock valued at $19,907,000 after purchasing an additional 320,221 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Tri Pointe Homes in the 2nd quarter worth approximately $9,599,000. Finally, Bridgewater Associates LP boosted its stake in shares of Tri Pointe Homes by 476.3% during the third quarter. Bridgewater Associates LP now owns 174,719 shares of the construction company’s stock valued at $7,917,000 after purchasing an additional 144,403 shares in the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Tri Pointe Homes Stock Up 0.6 %

Shares of TPH stock opened at $37.46 on Thursday. The stock’s fifty day moving average price is $39.10 and its 200 day moving average price is $41.74. 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. The company has a market cap of $3.51 billion, a price-to-earnings ratio of 7.77, a price-to-earnings-growth ratio of 0.60 and a beta of 1.64.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.07 by $0.11. The firm had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.05 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. Tri Pointe Homes’s revenue was up 34.9% on a year-over-year basis. During the same period last year, the firm posted $0.76 EPS. On average, research analysts expect that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its board has approved a stock repurchase plan on Wednesday, December 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to purchase up to 7.3% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction dated Monday, December 16th. The stock was 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 of the company’s stock, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

TPH has been the subject of a number of recent research reports. Royal Bank of Canada reduced their price objective on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Oppenheimer decreased their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Wedbush reissued a “neutral” rating and set a $42.00 price target on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Tri Pointe Homes presently has a consensus rating of “Moderate Buy” and an average target price of $45.75.

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.