New York State Common Retirement Fund Sells 14,800 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

New York State Common Retirement Fund cut its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 15.5% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 80,747 shares of the construction company’s stock after selling 14,800 shares during the period. New York State Common Retirement Fund owned about 0.08% of Tri Pointe Homes worth $2,858,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Pacer Advisors Inc. increased its stake in Tri Pointe Homes by 63.8% in the 4th quarter. Pacer Advisors Inc. now owns 3,913,521 shares of the construction company’s stock worth $138,539,000 after purchasing an additional 1,524,401 shares during the period. American Century Companies Inc. increased its position in shares of Tri Pointe Homes by 21.7% in the third quarter. American Century Companies Inc. now owns 1,683,362 shares of the construction company’s stock valued at $46,040,000 after acquiring an additional 300,383 shares during the period. Richard Bernstein Advisors LLC purchased a new stake in shares of Tri Pointe Homes during the third quarter worth about $4,886,000. Assenagon Asset Management S.A. grew its stake in shares of Tri Pointe Homes by 26.9% in the third quarter. Assenagon Asset Management S.A. now owns 727,045 shares of the construction company’s stock worth $19,885,000 after purchasing an additional 153,994 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Tri Pointe Homes by 15.1% during the 3rd quarter. Invesco Ltd. now owns 1,042,993 shares of the construction company’s stock valued at $28,526,000 after purchasing an additional 137,175 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Insider Activity at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 51,533 shares of Tri Pointe Homes stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total value of $1,814,992.26. Following the completion of the sale, the chief operating officer now owns 785,543 shares of the company’s stock, valued at approximately $27,666,824.46. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on TPH shares. Royal Bank of Canada increased their price objective on Tri Pointe Homes from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, April 26th. Oppenheimer lifted their price target on shares of Tri Pointe Homes from $41.00 to $46.00 and gave the company an “outperform” rating in a report on Friday, April 26th. StockNews.com upgraded shares of Tri Pointe Homes from a “hold” rating to a “buy” rating in a report on Friday, April 26th. Finally, Wedbush reaffirmed a “neutral” rating and set a $35.00 target price on shares of Tri Pointe Homes in a research note on Thursday, April 25th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $40.60.

Tri Pointe Homes Price Performance

Shares of TPH stock opened at $39.57 on Tuesday. The business’s fifty day moving average is $36.15 and its 200 day moving average is $33.53. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.45. The stock has a market cap of $3.75 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 0.67 and a beta of 1.54. Tri Pointe Homes, Inc. has a twelve month low of $24.18 and a twelve month high of $40.13.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Thursday, April 25th. The construction company reported $1.03 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.34. Tri Pointe Homes had a return on equity of 12.39% and a net margin of 9.62%. The firm had revenue of $918.40 million for the quarter, compared to analysts’ expectations of $867.77 million. During the same period in the previous year, the firm posted $0.73 EPS. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. Research analysts expect that Tri Pointe Homes, Inc. will post 4.49 EPS 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.