Arizona State Retirement System Has $603,000 Stock Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Arizona State Retirement System cut its holdings in Tri Pointe Homes, Inc. (NYSE:TPH – Get Rating) by 1.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,042 shares of the construction company’s stock after selling 584 shares during the quarter. Arizona State Retirement System’s holdings in Tri Pointe Homes were worth $603,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TPH. JPMorgan Chase & Co. lifted its stake in shares of Tri Pointe Homes by 66.0% in the fourth quarter. JPMorgan Chase & Co. now owns 9,540,159 shares of the construction company’s stock worth $266,076,000 after buying an additional 3,794,469 shares during the last quarter. State Street Corp lifted its stake in shares of Tri Pointe Homes by 7.5% in the fourth quarter. State Street Corp now owns 4,916,381 shares of the construction company’s stock worth $137,118,000 after buying an additional 341,898 shares during the last quarter. Invesco Ltd. lifted its stake in shares of Tri Pointe Homes by 22.8% in the fourth quarter. Invesco Ltd. now owns 2,081,466 shares of the construction company’s stock worth $58,052,000 after buying an additional 385,977 shares during the last quarter. Geode Capital Management LLC raised its stake in Tri Pointe Homes by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 1,971,430 shares of the construction company’s stock valued at $54,983,000 after purchasing an additional 33,068 shares during the last quarter. Finally, Bank of America Corp DE raised its stake in Tri Pointe Homes by 22.4% during the 4th quarter. Bank of America Corp DE now owns 1,226,191 shares of the construction company’s stock valued at $34,199,000 after purchasing an additional 224,351 shares during the last quarter. 98.98% of the stock is currently owned by institutional investors and hedge funds.

Tri Pointe Homes Stock Performance

Tri Pointe Homes stock opened at $17.50 on Thursday. The company has a market cap of $1.78 billion, a PE ratio of 3.77 and a beta of 1.43. The company’s 50-day moving average is $18.57 and its two-hundred day moving average is $20.58. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.54. Tri Pointe Homes, Inc. has a 1 year low of $15.05 and a 1 year high of $28.28.

Tri Pointe Homes (NYSE:TPH – Get Rating) last announced its quarterly earnings results on Thursday, July 21st. The construction company reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.21. The business had revenue of $1 billion for the quarter, compared to the consensus estimate of $998.10 million. Tri Pointe Homes had a net margin of 12.70% and a return on equity of 20.80%. Tri Pointe Homes’s revenue for the quarter was down .5% on a year-over-year basis. During the same period last year, the company posted $1.00 EPS. Equities analysts anticipate that Tri Pointe Homes, Inc. will post 4.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

TPH has been the subject of several research analyst reports. StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Saturday, June 18th. B. Riley cut shares of Tri Pointe Homes from a “buy” rating to a “neutral” rating and cut their target price for the company from $26.00 to $20.00 in a research note on Thursday, June 16th. Finally, Wells Fargo & Company cut their target price on shares of Tri Pointe Homes from $22.00 to $19.00 and set an “equal weight” rating for the company in a research note on Friday, June 17th.

Tri Pointe Homes Profile

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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 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, Virginia, and the District of Columbia.