Artemis Investment Management LLP Purchases New Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Artemis Investment Management LLP acquired a new stake in Tri Pointe Homes, Inc. (NYSE:TPH) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 103,195 shares of the construction company’s stock, valued at approximately $3,844,000. Artemis Investment Management LLP owned approximately 0.11% of Tri Pointe Homes at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Trexquant Investment LP bought a new position in shares of Tri Pointe Homes during the fourth quarter valued at $3,135,000. BNP Paribas Financial Markets boosted its holdings in shares of Tri Pointe Homes by 132.8% during the 1st quarter. BNP Paribas Financial Markets now owns 122,337 shares of the construction company’s stock valued at $4,730,000 after acquiring an additional 69,789 shares during the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Tri Pointe Homes in the first quarter worth approximately $834,000. State Board of Administration of Florida Retirement System raised its holdings in shares of Tri Pointe Homes by 64.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 83,261 shares of the construction company’s stock valued at $3,219,000 after purchasing an additional 32,717 shares during the last quarter. Finally, Forge First Asset Management Inc. bought a new position in Tri Pointe Homes during the first quarter valued at approximately $3,156,000. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on TPH shares. Royal Bank of Canada raised their target price on Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Oppenheimer raised their price objective on shares of Tri Pointe Homes from $46.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Wedbush reaffirmed a “neutral” rating and set a $42.00 target price on shares of Tri Pointe Homes in a report on Thursday, July 25th. StockNews.com upgraded shares of Tri Pointe Homes from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Finally, Evercore ISI raised shares of Tri Pointe Homes to a “strong-buy” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $48.00.

Insider Buying and Selling at Tri Pointe Homes

In related news, CFO Glenn J. Keeler sold 24,200 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $46.16, for a total value of $1,117,072.00. Following the transaction, the chief financial officer now directly owns 149,108 shares of the company’s stock, valued at approximately $6,882,825.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Tri Pointe Homes Stock Performance

Tri Pointe Homes stock traded down $0.41 during midday trading on Monday, hitting $40.24. The stock had a trading volume of 125,397 shares, compared to its average volume of 971,090. Tri Pointe Homes, Inc. has a 52-week low of $24.18 and a 52-week high of $47.78. The company has a market capitalization of $3.82 billion, a PE ratio of 10.84, a P/E/G ratio of 0.68 and a beta of 1.58. The firm’s fifty day moving average is $40.04 and its two-hundred day moving average is $37.72. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Thursday, July 25th. The construction company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.09 by $0.16. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. The firm had revenue of $1.13 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was up 38.3% compared to the same quarter last year. On average, research analysts forecast that Tri Pointe Homes, Inc. will post 4.64 EPS for the current year.

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.