Phocas Financial Corp. Decreases Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Phocas Financial Corp. cut its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 240,938 shares of the construction company’s stock after selling 1,547 shares during the period. Tri Pointe Homes accounts for about 1.1% of Phocas Financial Corp.’s portfolio, making the stock its 26th biggest position. Phocas Financial Corp. owned about 0.24% of Tri Pointe Homes worth $7,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Ameritas Investment Partners Inc. raised its holdings in shares of Tri Pointe Homes by 5.2% in the first quarter. Ameritas Investment Partners Inc. now owns 8,103 shares of the construction company’s stock worth $205,000 after buying an additional 402 shares during the period. Captrust Financial Advisors raised its holdings in shares of Tri Pointe Homes by 30.4% in the first quarter. Captrust Financial Advisors now owns 2,275 shares of the construction company’s stock worth $46,000 after buying an additional 531 shares during the period. MetLife Investment Management LLC raised its holdings in shares of Tri Pointe Homes by 1.1% in the fourth quarter. MetLife Investment Management LLC now owns 53,539 shares of the construction company’s stock worth $995,000 after buying an additional 559 shares during the period. Arizona State Retirement System raised its holdings in shares of Tri Pointe Homes by 2.0% in the first quarter. Arizona State Retirement System now owns 29,240 shares of the construction company’s stock worth $740,000 after buying an additional 561 shares during the period. Finally, Federated Hermes Inc. raised its holdings in shares of Tri Pointe Homes by 2.5% in the first quarter. Federated Hermes Inc. now owns 28,674 shares of the construction company’s stock worth $576,000 after buying an additional 698 shares during the period. 97.59% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wedbush increased their price target on Tri Pointe Homes from $30.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, August 1st. Royal Bank of Canada increased their price objective on Tri Pointe Homes from $29.00 to $32.00 and gave the stock a “sector perform” rating in a research note on Friday, July 28th. Oppenheimer raised Tri Pointe Homes from a “market perform” rating to an “outperform” rating and set a $36.00 price objective on the stock in a research note on Thursday, September 7th. Wolfe Research raised Tri Pointe Homes from a “peer perform” rating to an “outperform” rating and set a $38.00 price objective on the stock in a research note on Monday, August 7th. Finally, StockNews.com initiated coverage on Tri Pointe Homes in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $33.50.

Tri Pointe Homes Stock Down 0.1 %

NYSE TPH traded down $0.04 during midday trading on Tuesday, hitting $28.91. 144,895 shares of the company traded hands, compared to its average volume of 1,012,594. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.18 and a quick ratio of 2.18. The company has a market cap of $2.86 billion, a PE ratio of 6.08, a price-to-earnings-growth ratio of 0.72 and a beta of 1.48. The company’s 50-day simple moving average is $31.17 and its 200-day simple moving average is $29.29. Tri Pointe Homes, Inc. has a 52 week low of $14.59 and a 52 week high of $34.04.

Tri Pointe Homes (NYSE:TPH) last announced its earnings results on Thursday, July 27th. The construction company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.05. The business had revenue of $819.08 million for the quarter, compared to analysts’ expectations of $703.67 million. Tri Pointe Homes had a return on equity of 17.37% and a net margin of 11.71%. As a group, equities research analysts forecast that Tri Pointe Homes, Inc. will post 3.1 earnings per share for the current year.

Insider Buying and Selling at Tri Pointe Homes

In other news, Director Lawrence B. Burrows sold 7,677 shares of the stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $31.48, for a total transaction of $241,671.96. Following the completion of the sale, the director now owns 86,891 shares in the company, valued at approximately $2,735,328.68. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

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.