Tri Pointe Homes, Inc. (NYSE:TPH) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 4.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 9,329 shares of the construction company’s stock after selling 400 shares during the period. PNC Financial Services Group Inc.’s holdings in Tri Pointe Homes were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in Tri Pointe Homes by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock valued at $112,644,000 after acquiring an additional 76,830 shares during the period. Principal Financial Group Inc. increased its position in Tri Pointe Homes by 3.5% in the 4th quarter. Principal Financial Group Inc. now owns 486,100 shares of the construction company’s stock valued at $17,626,000 after acquiring an additional 16,380 shares during the period. Massachusetts Financial Services Co. MA increased its position in Tri Pointe Homes by 404.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 43,849 shares of the construction company’s stock valued at $1,987,000 after acquiring an additional 35,162 shares during the period. New York State Teachers Retirement System boosted its holdings in Tri Pointe Homes by 15.3% in the 4th quarter. New York State Teachers Retirement System now owns 67,505 shares of the construction company’s stock valued at $2,448,000 after purchasing an additional 8,948 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its holdings in Tri Pointe Homes by 5.3% in the 4th quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company’s stock valued at $73,850,000 after purchasing an additional 102,187 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Price Performance

Shares of NYSE:TPH opened at $31.37 on Friday. The business’s 50 day simple moving average is $34.29 and its 200-day simple moving average is $39.05. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 6.49, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64. Tri Pointe Homes, Inc. has a 12 month low of $30.25 and a 12 month high of $47.78.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.30 by $0.07. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. As a group, equities analysts forecast that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has initiated a stock buyback program on Wednesday, December 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Seaport Res Ptn raised Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Evercore ISI lowered their price objective on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Wedbush reaffirmed a “neutral” rating and issued a $38.00 price objective (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Finally, Royal Bank of Canada lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. Four research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.60.

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.