Boston Partners Buys New Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Boston Partners purchased a new position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 245,056 shares of the construction company’s stock, valued at approximately $8,888,000. Boston Partners owned about 0.26% of Tri Pointe Homes at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of TPH. GSA Capital Partners LLP boosted its position in Tri Pointe Homes by 4.4% during the third quarter. GSA Capital Partners LLP now owns 6,189 shares of the construction company’s stock worth $280,000 after acquiring an additional 258 shares during the last quarter. Assetmark Inc. boosted its holdings in shares of Tri Pointe Homes by 19.6% during the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock worth $66,000 after purchasing an additional 300 shares during the last quarter. Highland Capital Management LLC grew its position in shares of Tri Pointe Homes by 6.7% in the fourth quarter. Highland Capital Management LLC now owns 5,852 shares of the construction company’s stock valued at $212,000 after purchasing an additional 368 shares during the period. Park Avenue Securities LLC increased its stake in Tri Pointe Homes by 7.4% in the fourth quarter. Park Avenue Securities LLC now owns 6,412 shares of the construction company’s stock valued at $232,000 after purchasing an additional 444 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. increased its stake in Tri Pointe Homes by 2.1% in the fourth quarter. Oppenheimer Asset Management Inc. now owns 26,595 shares of the construction company’s stock valued at $964,000 after purchasing an additional 553 shares during the last quarter. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on TPH shares. Wedbush restated a “neutral” rating and issued a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. StockNews.com downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Evercore ISI cut their price target on shares of 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. Royal Bank of Canada cut shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $41.00 to $37.00 in a research note on Wednesday, February 19th. Finally, Seaport Res Ptn raised Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Four investment analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.60.

Tri Pointe Homes Price Performance

Tri Pointe Homes stock opened at $31.93 on Friday. 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 6.61, a PEG ratio of 0.67 and a beta of 1.71. The firm has a fifty day moving average of $34.35 and a 200-day moving average of $39.15. Tri Pointe Homes, Inc. has a 52-week low of $30.25 and a 52-week high of $47.78.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 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 for the quarter, compared to analyst estimates of $1.22 billion. As a group, analysts predict that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its Board of Directors has initiated a stock buyback plan on Wednesday, December 18th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership 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.