Oppenheimer Asset Management Inc. Has $964,000 Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Oppenheimer Asset Management Inc. lifted its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 2.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,595 shares of the construction company’s stock after purchasing an additional 553 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Tri Pointe Homes were worth $964,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Pacer Advisors Inc. bought a new stake in Tri Pointe Homes in the fourth quarter valued at $118,407,000. Weiss Asset Management LP bought a new stake in Tri Pointe Homes in the third quarter valued at $16,066,000. Bridgewater Associates LP grew its position in Tri Pointe Homes by 476.3% in the third quarter. Bridgewater Associates LP now owns 174,719 shares of the construction company’s stock valued at $7,917,000 after acquiring an additional 144,403 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in Tri Pointe Homes by 703.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 158,853 shares of the construction company’s stock valued at $7,198,000 after acquiring an additional 139,079 shares during the period. Finally, Quantbot Technologies LP grew its position in Tri Pointe Homes by 562.0% in the third quarter. Quantbot Technologies LP now owns 147,238 shares of the construction company’s stock valued at $6,671,000 after acquiring an additional 124,998 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the firm’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.00% of the stock is owned by company insiders.

Tri Pointe Homes Price Performance

Tri Pointe Homes stock opened at $31.14 on Wednesday. The business’s 50-day simple moving average is $35.33 and its 200 day simple moving average is $40.10. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 6.45, a P/E/G ratio of 0.67 and a beta of 1.64. Tri Pointe Homes, Inc. has a 12-month low of $30.25 and a 12-month high of $47.78. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.07. The business had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. As a group, research analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its board has authorized a stock repurchase plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 7.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Evercore ISI lowered their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Royal Bank of Canada cut Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $41.00 to $37.00 in a research report on Wednesday, February 19th. Wedbush restated a “neutral” rating and set a $38.00 target price (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Oppenheimer decreased their target price on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $40.60.

Tri Pointe Homes 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.