QRG Capital Management Inc. Acquires 7,482 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

QRG Capital Management Inc. raised its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 28.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 33,442 shares of the construction company’s stock after purchasing an additional 7,482 shares during the quarter. QRG Capital Management Inc.’s holdings in Tri Pointe Homes were worth $1,213,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its position in shares of Tri Pointe Homes by 562.1% during the fourth 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 raised its stake in Tri Pointe Homes by 51.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock worth $84,000 after buying an additional 789 shares during the period. Blue Trust Inc. lifted its holdings in Tri Pointe Homes by 72.8% during the fourth quarter. Blue Trust Inc. now owns 4,093 shares of the construction company’s stock worth $148,000 after acquiring an additional 1,725 shares in the last quarter. KBC Group NV grew its stake in Tri Pointe Homes by 65.9% in the fourth quarter. KBC Group NV now owns 4,254 shares of the construction company’s stock valued at $154,000 after acquiring an additional 1,690 shares during the period. Finally, Truvestments Capital LLC bought a new stake in shares of Tri Pointe Homes in the third quarter worth about $184,000. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Price Performance

NYSE TPH opened at $30.97 on Tuesday. The firm’s 50 day moving average is $35.45 and its 200-day moving average is $40.17. 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 company has a market capitalization of $2.85 billion, a PE ratio of 6.41, a price-to-earnings-growth ratio of 0.67 and a beta of 1.64. Tri Pointe Homes, Inc. has a 12-month low of $30.25 and a 12-month high of $47.78.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results 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 net margin of 10.36% and a return on equity of 14.34%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Equities research 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 authorized a stock repurchase program on Wednesday, December 18th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Wedbush reaffirmed a “neutral” rating and issued a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Oppenheimer lowered their price objective on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Royal Bank of Canada cut shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $41.00 to $37.00 in a research report on Wednesday, February 19th. Finally, Evercore ISI lowered their target price on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Tri Pointe Homes has a consensus rating of “Hold” and an average price target of $40.60.

Insider Activity

In other Tri Pointe Homes 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 sale, the chief operating officer now directly owns 708,159 shares of the company’s stock, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.00% of the stock is currently owned by insiders.

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.