Prudential Financial Inc. Reduces Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Prudential Financial Inc. reduced its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 10.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 159,185 shares of the construction company’s stock after selling 18,360 shares during the period. Prudential Financial Inc. owned about 0.17% of Tri Pointe Homes worth $5,772,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its position in Tri Pointe Homes by 11.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,165,651 shares of the construction company’s stock valued at $52,816,000 after buying an additional 115,099 shares during the last quarter. Cerity Partners LLC boosted its holdings in Tri Pointe Homes by 113.9% in the third quarter. Cerity Partners LLC now owns 63,847 shares of the construction company’s stock valued at $2,893,000 after purchasing an additional 33,992 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in Tri Pointe Homes by 77.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,800 shares of the construction company’s stock valued at $580,000 after purchasing an additional 5,600 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Tri Pointe Homes by 1.5% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 235,670 shares of the construction company’s stock worth $10,678,000 after purchasing an additional 3,488 shares during the last quarter. Finally, Martingale Asset Management L P acquired a new position in shares of Tri Pointe Homes in the 3rd quarter valued at approximately $1,458,000. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

TPH has been the subject of a number of recent analyst reports. Seaport Res Ptn raised shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Oppenheimer dropped their target price on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada cut shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. Evercore ISI lowered their price objective on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Tri Pointe Homes presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.60.

Tri Pointe Homes Price Performance

TPH opened at $31.88 on Monday. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The company’s 50-day moving average price is $33.86 and its 200 day moving average price is $38.66. Tri Pointe Homes, Inc. has a fifty-two week low of $30.25 and a fifty-two week high of $47.78. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 6.60, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share (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 the consensus estimate 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, sell-side analysts expect that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes announced that its board has authorized a share buyback program on Wednesday, December 18th that permits the company to repurchase $250.00 million in outstanding shares. This repurchase authorization permits the construction company to buy up to 7.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.