Tri Pointe Homes, Inc. (NYSE:TPH) Position Increased by Highland Capital Management LLC

Highland Capital Management LLC boosted its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 6.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,852 shares of the construction company’s stock after purchasing an additional 368 shares during the period. Highland Capital Management LLC’s holdings in Tri Pointe Homes were worth $212,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Tri Pointe Homes by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 54,706 shares of the construction company’s stock valued at $2,038,000 after buying an additional 667 shares during the last quarter. Creative Planning lifted its stake in Tri Pointe Homes by 43.0% in the second quarter. Creative Planning now owns 13,503 shares of the construction company’s stock valued at $503,000 after acquiring an additional 4,063 shares during the last quarter. Truist Financial Corp bought a new stake in Tri Pointe Homes in the second quarter worth approximately $1,431,000. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Tri Pointe Homes in the second quarter worth approximately $9,599,000. Finally, Park Avenue Securities LLC acquired a new position in shares of Tri Pointe Homes during the 3rd quarter worth $270,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Insider Activity

In related news, COO Thomas J. Mitchell sold 77,384 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the completion of the transaction, the chief operating officer now directly owns 708,159 shares in the company, valued at $27,724,424.85. This represents a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

TPH has been the subject of several analyst reports. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Royal Bank of Canada reduced their price target on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Oppenheimer lowered their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. Finally, Wedbush restated a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a report on Thursday, October 24th. Three 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’s stock. Based on data from MarketBeat, Tri Pointe Homes currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.75.

Tri Pointe Homes Price Performance

NYSE TPH opened at $36.86 on Friday. The stock has a market capitalization of $3.45 billion, a PE ratio of 7.65, a P/E/G ratio of 0.59 and a beta of 1.64. The stock has a 50-day simple moving average of $38.52 and a 200 day simple moving average of $41.65. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64. Tri Pointe Homes, Inc. has a twelve month low of $33.24 and a twelve month high of $47.78.

Tri Pointe Homes announced that its board has authorized a stock buyback plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to reacquire up to 7.3% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are 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.