Jennison Associates LLC Buys 11,131 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Jennison Associates LLC increased its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 27.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,197 shares of the construction company’s stock after buying an additional 11,131 shares during the quarter. Jennison Associates LLC owned 0.06% of Tri Pointe Homes worth $2,365,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Gradient Investments LLC acquired a new position in shares of Tri Pointe Homes in the 2nd quarter worth approximately $30,000. Reston Wealth Management LLC bought a new position in Tri Pointe Homes in the 3rd quarter valued at $45,000. GAMMA Investing LLC boosted its stake in Tri Pointe Homes by 63.1% in the second quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company’s stock worth $57,000 after purchasing an additional 588 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Tri Pointe Homes by 31.7% during the second quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock worth $69,000 after purchasing an additional 427 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Tri Pointe Homes by 70.8% in the second quarter. CWM LLC now owns 2,220 shares of the construction company’s stock valued at $83,000 after buying an additional 920 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Wedbush reiterated a “neutral” rating and set a $42.00 price target on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Oppenheimer decreased 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 note on Friday, October 25th. Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective for the company in a research report on Tuesday, September 17th. Finally, Royal Bank of Canada decreased 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. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Tri Pointe Homes presently has a consensus rating of “Moderate Buy” and an average price target of $45.75.

Insiders Place Their Bets

In other Tri Pointe Homes news, General Counsel David Ch Lee sold 5,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the sale, the general counsel now directly owns 85,792 shares in the company, valued at approximately $3,798,869.76. This trade represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Tri Pointe Homes Trading Up 1.5 %

Shares of NYSE TPH opened at $42.62 on Friday. Tri Pointe Homes, Inc. has a fifty-two week low of $28.74 and a fifty-two week high of $47.78. The firm has a market capitalization of $3.99 billion, a P/E ratio of 8.84, a P/E/G ratio of 0.68 and a beta of 1.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. The company’s 50 day simple moving average is $43.26 and its 200 day simple moving average is $41.53.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the business posted $0.76 EPS. The firm’s quarterly revenue was up 34.9% on a year-over-year basis. On average, analysts predict that Tri Pointe Homes, Inc. will post 4.72 EPS for the current 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.