Glenmede Trust Co. NA Sells 6,891 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Glenmede Trust Co. NA decreased its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 1.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 493,489 shares of the construction company’s stock after selling 6,891 shares during the quarter. Glenmede Trust Co. NA’s holdings in Tri Pointe Homes were worth $22,360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of TPH. Assenagon Asset Management S.A. boosted its position in shares of Tri Pointe Homes by 260.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock worth $64,216,000 after purchasing an additional 1,024,425 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Tri Pointe Homes by 11.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,165,651 shares of the construction company’s stock valued at $52,816,000 after acquiring an additional 115,099 shares in the last quarter. Millennium Management LLC raised its position in shares of Tri Pointe Homes by 14.1% during the second quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock worth $34,475,000 after purchasing an additional 114,244 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Tri Pointe Homes by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company’s stock worth $34,135,000 after purchasing an additional 31,041 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in Tri Pointe Homes by 0.8% in the 3rd quarter. Fisher Asset Management LLC now owns 725,537 shares of the construction company’s stock valued at $32,874,000 after purchasing an additional 6,079 shares during the period. Institutional investors own 97.01% of the company’s stock.

Analyst Upgrades and Downgrades

TPH has been the topic of a number of recent research reports. Wedbush reaffirmed a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price on the stock in a research report on Tuesday, September 17th. Oppenheimer dropped their price objective on Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, Royal Bank of Canada reduced their target price on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $45.75.

Tri Pointe Homes Trading Down 0.0 %

Tri Pointe Homes stock opened at $43.62 on Thursday. Tri Pointe Homes, Inc. has a fifty-two week low of $28.74 and a fifty-two week high of $47.78. The firm’s fifty day moving average price is $43.21 and its 200-day moving average price is $41.63. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64. The stock has a market cap of $4.08 billion, a P/E ratio of 9.05, a PEG ratio of 0.73 and a beta of 1.60.

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

Insider Buying and Selling

In other Tri Pointe Homes news, General Counsel David Ch Lee sold 5,000 shares of the business’s stock in a transaction dated 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 approximately $3,798,869.76. The trade was a 5.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.50% of the stock is currently 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.