Bridgewater Associates LP Grows Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Bridgewater Associates LP boosted its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 476.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 174,719 shares of the construction company’s stock after buying an additional 144,403 shares during the period. Bridgewater Associates LP’s holdings in Tri Pointe Homes were worth $7,917,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its position in shares of Tri Pointe Homes by 260.8% during the third quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock valued at $64,216,000 after acquiring an additional 1,024,425 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Tri Pointe Homes by 1,417.8% during the 2nd quarter. Renaissance Technologies LLC now owns 443,736 shares of the construction company’s stock worth $16,529,000 after purchasing an additional 414,500 shares during the period. Cubist Systematic Strategies LLC increased its holdings in Tri Pointe Homes by 149.5% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 534,406 shares of the construction company’s stock valued at $19,907,000 after purchasing an additional 320,221 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Tri Pointe Homes in the second quarter valued at approximately $9,599,000. Finally, Jane Street Group LLC raised its position in Tri Pointe Homes by 171.3% in the first quarter. Jane Street Group LLC now owns 293,636 shares of the construction company’s stock valued at $11,352,000 after purchasing an additional 185,395 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Royal Bank of Canada lowered their price target 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. Wedbush reaffirmed a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target on the stock in a research note on Tuesday, September 17th. Finally, Oppenheimer lowered their price objective on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $45.75.

Insiders Place Their Bets

In other Tri Pointe Homes news, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the completion of the sale, the general counsel now directly owns 85,792 shares of the company’s stock, valued at $3,798,869.76. The trade was a 5.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.00% of the stock is currently owned by company insiders.

Tri Pointe Homes Trading Down 0.0 %

NYSE:TPH opened at $43.62 on Friday. The stock has a fifty day moving average price of $43.16 and a 200 day moving average price of $41.65. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. Tri Pointe Homes, Inc. has a 12-month low of $28.74 and a 12-month high of $47.78. The firm has a market cap of $4.08 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 0.71 and a beta of 1.60.

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

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.