Tri Pointe Homes, Inc. (NYSE:TPH) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lowered its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 7.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,137 shares of the construction company’s stock after selling 3,839 shares during the period. Corebridge Financial Inc.’s holdings in Tri Pointe Homes were worth $1,782,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Tri Pointe Homes by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 11,573,813 shares of the construction company’s stock valued at $419,666,000 after acquiring an additional 143,365 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in shares of Tri Pointe Homes in the fourth quarter valued at approximately $936,000. Hillsdale Investment Management Inc. increased its holdings in shares of Tri Pointe Homes by 0.3% in the fourth quarter. Hillsdale Investment Management Inc. now owns 99,800 shares of the construction company’s stock valued at $3,619,000 after purchasing an additional 340 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Tri Pointe Homes by 14.0% in the fourth quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company’s stock valued at $70,579,000 after purchasing an additional 238,807 shares during the period. Finally, Magnetar Financial LLC grew its stake in shares of Tri Pointe Homes by 36.0% in the 4th quarter. Magnetar Financial LLC now owns 9,894 shares of the construction company’s stock valued at $359,000 after buying an additional 2,621 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TPH has been the topic of a number of research analyst reports. StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Royal Bank of Canada lowered shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $41.00 to $37.00 in a research note on Wednesday, February 19th. Evercore ISI reduced their price target on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Wedbush reaffirmed a “neutral” rating and set a $38.00 price objective (down previously from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Finally, Oppenheimer dropped their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $40.60.

Tri Pointe Homes Trading Up 0.8 %

NYSE:TPH opened at $32.46 on Thursday. Tri Pointe Homes, Inc. has a 12-month low of $30.25 and a 12-month high of $47.78. The firm has a market cap of $2.98 billion, a PE ratio of 6.72, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. The company has a current ratio of 2.24, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. The stock has a fifty day moving average price of $33.55 and a 200 day moving average price of $38.45.

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

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