On September 26, 2023, it was reported that KCS Wealth Advisory has reduced its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 46.9% in the second quarter of this year. The institutional investor now owns 7,020 shares of Tri Pointe Homes after selling 6,211 shares during the same period. According to its most recent SEC filing, these 7,020 shares were valued at $231,000.
Tri Pointe Homes released its quarterly earnings data on July 27th, reporting an earnings per share (EPS) of $0.60 for the quarter. This surpassed the consensus estimate of $0.55 EPS by $0.05. The company’s revenue for the quarter came in at $819.08 million, compared to analysts’ expectations of $703.67 million. Tri Pointe Homes achieved a net margin of 11.71% and a return on equity of 17.37%. Analysts anticipate that Tri Pointe Homes will post an EPS of 3.1 for the current year.
Several research analysts have also weighed in on Tri Pointe Homes’ performance and provided their insights regarding the company’s outlook. Royal Bank of Canada increased their target price on Tri Pointe Homes from $29 to $32 and assigned a “sector perform” rating to the stock on July 28th, while Wedbush raised their target price from $30 to $36 and gave the company an “outperform” rating on August 1st.
Oppenheimer upgraded their rating on September 7th from “market perform” to “outperform,” setting a price objective of $36 for Tri Point Home’s stock. On August 17th, StockNews.com initiated coverage on the company and provided a “hold” rating.
Deutsche Bank Aktiengesellschaft began analyzing Tri Pointe Homes on May 31st, offering a “buy” rating and setting a $42 price target on the stock. In summary, out of seven research analysts, three have issued a hold rating while four have given Tri Pointe Homes a buy rating. According to Bloomberg.com, the consensus rating for Tri Pointe Homes is rated as “Moderate Buy,” with an average price target of $33.50.
In light of these varying ratings and targets, investors may want to carefully consider all available information before making any decisions regarding their investment in Tri Pointe Homes, Inc.
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Notable Increases in Holdings of Tri Pointe Homes by Institutional Investors and Hedge Funds
Tri Pointe Homes, a construction company, has seen some recent modifications in the holdings of its shares by hedge funds and institutional investors. One notable change is Raymond James & Associates increasing its holdings by 2.1% during the first quarter, acquiring an additional 3,591 shares. This brings their total ownership to 176,362 shares with a value of $3,541,000.
Another significant increase was observed in Natixis Advisors L.P.’s position, as they raised their stake by 53.8% during the same quarter. They now own 25,492 shares worth $512,000.
Bank of Montreal Can also joined the trend of increasing holdings in Tri Pointe Homes by purchasing an additional 2,213 shares, bringing their total ownership to 10,793 shares valued at $224,000.
MetLife Investment Management LLC decided to further invest in Tri Pointe Homes as well by acquiring an additional 36,396 shares—a boost of 39.4%. This increased their overall position to 128,677 shares valued at $2,584,000.
Lastly, Commonwealth of Pennsylvania Public School Empls Retrmt SYS added to their stake by purchasing an extra 3,884 shares—an increase of 10.5%. Their current shareholdings amount to 40,731 with a value of $818,000.
It is worth noting that institutional investors and hedge funds collectively own approximately 97.59% of Tri Pointe Homes’ stock.
In terms of corporate news related to Tri Pointe Homes it was reported that Director Lawrence B. Burrows sold 7,677 shares on August 2nd at an average price of $31.48 per share. The total value of this transaction amounted to $241,671.96. Following this sale, Burrows now directly holds a total of 86,891 shares in the company valued at $2,735,328.68. This transaction was disclosed in a filing with the Securities & Exchange Commission.
Moving on to Tri Pointe Homes’ performance in the market, as of September 26, 2023, the company’s stock opened at $27.45. Over the past twelve months, it has traded between a low of $14.59 and a high of $34.04.
Tri Pointe Homes boasts a quick ratio and current ratio of 2.18 each, while its debt-to-equity ratio stands at 0.48. The company also has a fifty-day moving average of $30.80 and a 200-day moving average of $29.41.
With a market capitalization of $2.72 billion, Tri Pointe Homes carries an attractive price-to-earnings (PE) ratio of 5.77 and a price-to-earnings growth (PEG) ratio of 0.68—indicating potential undervaluation according to these metrics.
Overall, Tri Pointe Homes has experienced noteworthy modifications in its shareholdings by various institutional investors and hedge funds, showcasing their confidence in the company’s prospects for growth and profitability within the construction industry.
