KLP Kapitalforvaltning AS Purchases New Shares in Tri Pointe Homes, Inc. (NYSE:TPH)

KLP Kapitalforvaltning AS acquired a new position in Tri Pointe Homes, Inc. (NYSE:TPH) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 25,800 shares of the construction company’s stock, valued at approximately $936,000.

A number of other institutional investors have also recently bought and sold shares of TPH. Smartleaf Asset Management LLC boosted its stake in shares of Tri Pointe Homes by 84.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock valued at $49,000 after buying an additional 613 shares during the period. Assetmark Inc. lifted its position in shares of Tri Pointe Homes by 19.6% during the 4th quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock valued at $66,000 after acquiring an additional 300 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of Tri Pointe Homes by 562.1% during the 4th quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock worth $81,000 after purchasing an additional 1,900 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Tri Pointe Homes by 51.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock worth $84,000 after purchasing an additional 789 shares during the period. Finally, Blue Trust Inc. raised its stake in Tri Pointe Homes by 72.8% in the fourth quarter. Blue Trust Inc. now owns 4,093 shares of the construction company’s stock valued at $148,000 after purchasing an additional 1,725 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Oppenheimer decreased their target price on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Evercore ISI decreased their price target on 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 restated a “neutral” rating and set a $38.00 price objective (down from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Finally, Seaport Res Ptn upgraded Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Tri Pointe Homes presently has an average rating of “Moderate Buy” and an average price target of $40.60.

Tri Pointe Homes Trading Up 0.4 %

Shares of TPH stock opened at $31.96 on Tuesday. Tri Pointe Homes, Inc. has a twelve month low of $30.25 and a twelve month high of $47.78. The stock’s fifty day simple moving average is $33.75 and its 200 day simple moving average is $38.58. 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 firm has a market capitalization of $2.93 billion, a P/E ratio of 6.62, a P/E/G ratio of 0.67 and a beta of 1.71.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate 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 company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. As a group, sell-side analysts predict that Tri Pointe Homes, Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has authorized a stock repurchase program on Wednesday, December 18th that allows the company to repurchase $250.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.