Tri Pointe Homes, Inc. (NYSE:TPH) Holdings Lifted by Franklin Resources Inc.

Franklin Resources Inc. raised its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 1.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 712,673 shares of the construction company’s stock after acquiring an additional 9,542 shares during the quarter. Franklin Resources Inc.’s holdings in Tri Pointe Homes were worth $31,971,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Reston Wealth Management LLC acquired a new stake in Tri Pointe Homes in the 3rd quarter valued at approximately $45,000. Blue Trust Inc. grew its stake in shares of Tri Pointe Homes by 31.7% in the second quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock worth $69,000 after purchasing an additional 427 shares in the last quarter. Quarry LP increased its holdings in shares of Tri Pointe Homes by 123.3% during the second quarter. Quarry LP now owns 2,401 shares of the construction company’s stock valued at $89,000 after purchasing an additional 1,326 shares during the period. GAMMA Investing LLC increased its holdings in shares of Tri Pointe Homes by 75.6% during the third quarter. GAMMA Investing LLC now owns 2,669 shares of the construction company’s stock valued at $121,000 after purchasing an additional 1,149 shares during the period. Finally, CWM LLC raised its stake in shares of Tri Pointe Homes by 39.3% during the third quarter. CWM LLC now owns 3,092 shares of the construction company’s stock valued at $140,000 after purchasing an additional 872 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on TPH shares. Oppenheimer decreased their target price on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective for the company in a report on Tuesday, September 17th. Wedbush reissued a “neutral” rating and set a $42.00 target price on shares of Tri Pointe Homes in a report on Thursday, October 24th. Royal Bank of Canada cut their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.75.

Tri Pointe Homes Stock Down 3.6 %

NYSE TPH opened at $36.81 on Thursday. Tri Pointe Homes, Inc. has a 12 month low of $33.24 and a 12 month high of $47.78. The company has a market capitalization of $3.45 billion, a P/E ratio of 7.64, a PEG ratio of 0.64 and a beta of 1.60. The company’s 50 day simple moving average is $42.15 and its 200 day simple moving average is $41.86. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly 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 firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the business posted $0.76 earnings per share. The firm’s quarterly revenue was up 34.9% compared to the same quarter last year. Equities research analysts expect that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has approved a stock repurchase program on Wednesday, December 18th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the construction company to purchase up to 7.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $39.15, for a total value of $3,029,583.60. Following the completion of the transaction, the chief operating officer now owns 708,159 shares in the company, valued at $27,724,424.85. This trade represents a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

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.