Phocas Financial Corp. Trims Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Phocas Financial Corp. cut its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 5.8% in the third quarter, Holdings Channel reports. The firm owned 220,773 shares of the construction company’s stock after selling 13,635 shares during the period. Phocas Financial Corp.’s holdings in Tri Pointe Homes were worth $10,003,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Natixis Advisors LLC grew its position in Tri Pointe Homes by 33.5% during the 3rd quarter. Natixis Advisors LLC now owns 57,077 shares of the construction company’s stock worth $2,586,000 after purchasing an additional 14,337 shares during the last quarter. Empowered Funds LLC raised its stake in shares of Tri Pointe Homes by 0.3% during the 3rd quarter. Empowered Funds LLC now owns 99,346 shares of the construction company’s stock worth $4,501,000 after buying an additional 265 shares in the last quarter. CIBC Asset Management Inc acquired a new stake in Tri Pointe Homes in the third quarter valued at $250,000. OneDigital Investment Advisors LLC acquired a new stake in shares of Tri Pointe Homes in the third quarter valued at about $217,000. Finally, Oppenheimer Asset Management Inc. boosted its stake in shares of Tri Pointe Homes by 80.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 26,042 shares of the construction company’s stock worth $1,180,000 after acquiring an additional 11,649 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Zelman & Associates upgraded Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target for the company in a research report on Tuesday, September 17th. Oppenheimer dropped their target price on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Royal Bank of Canada reduced their price target on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Wedbush reaffirmed a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Finally, Evercore ISI raised Tri Pointe Homes to a “strong-buy” rating in a research report on Friday, July 26th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.75.

Tri Pointe Homes Stock Performance

NYSE:TPH opened at $41.56 on Tuesday. Tri Pointe Homes, Inc. has a 1-year low of $28.74 and a 1-year high of $47.78. The firm has a 50 day simple moving average of $43.33 and a 200-day simple moving average of $41.46. The firm has a market cap of $3.89 billion, a PE ratio of 8.62, a P/E/G ratio of 0.68 and a beta of 1.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64.

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

Insiders Place Their Bets

In other Tri Pointe Homes news, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction on Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the transaction, the general counsel now owns 85,792 shares in the company, valued at $3,798,869.76. This trade represents a 5.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.50% of the stock is owned by corporate insiders.

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.