Tri Pointe Homes, Inc. (NYSE:TPH) Stock Position Decreased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lessened its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 12.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,633 shares of the construction company’s stock after selling 6,122 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Tri Pointe Homes were worth $1,977,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in TPH. Gradient Investments LLC acquired a new position in shares of Tri Pointe Homes in the 2nd quarter valued at about $30,000. Reston Wealth Management LLC acquired a new position in Tri Pointe Homes in the 3rd quarter valued at approximately $45,000. GAMMA Investing LLC lifted its position in Tri Pointe Homes by 63.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company’s stock worth $57,000 after buying an additional 588 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of Tri Pointe Homes by 31.7% during the 2nd quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock valued at $69,000 after buying an additional 427 shares during the period. Finally, CWM LLC grew its holdings in shares of Tri Pointe Homes by 70.8% during the 2nd quarter. CWM LLC now owns 2,220 shares of the construction company’s stock valued at $83,000 after acquiring an additional 920 shares in the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Tri Pointe Homes Trading Down 0.8 %

Shares of TPH stock opened at $41.79 on Monday. Tri Pointe Homes, Inc. has a 12 month low of $28.74 and a 12 month high of $47.78. The company has a market cap of $3.91 billion, a PE ratio of 8.67, a price-to-earnings-growth ratio of 0.68 and a beta of 1.60. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28. The business’s 50 day moving average is $43.33 and its two-hundred day moving average is $41.43.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.11. The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. Tri Pointe Homes’s revenue was up 34.9% compared to the same quarter last year. During the same period last year, the business posted $0.76 EPS. Equities analysts predict that Tri Pointe Homes, Inc. will post 4.72 EPS for the current year.

Insider Activity

In other news, General Counsel David Ch Lee sold 5,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $44.28, for a total value of $221,400.00. Following the completion of the sale, the general counsel now directly owns 85,792 shares of the company’s stock, valued at approximately $3,798,869.76. This represents a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TPH has been the subject of several recent research reports. Oppenheimer cut their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Evercore ISI raised Tri Pointe Homes to a “strong-buy” rating in a research note on Friday, July 26th. Royal Bank of Canada cut their price objective on shares of 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. Zelman & Associates raised shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price for the company in a research report on Tuesday, September 17th. Finally, Wedbush restated a “neutral” rating and set a $42.00 price target on shares of Tri Pointe Homes in a report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Tri Pointe Homes has a consensus rating of “Moderate Buy” and a consensus target price of $45.75.

About Tri Pointe Homes

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.