Summit Global Investments Decreases Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Summit Global Investments lowered its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 8.7% in the fourth quarter, Holdings Channel reports. The firm owned 29,901 shares of the construction company’s stock after selling 2,853 shares during the period. Summit Global Investments’ holdings in Tri Pointe Homes were worth $1,084,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Smartleaf Asset Management LLC grew its holdings in shares of Tri Pointe Homes by 84.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock worth $49,000 after purchasing an additional 613 shares during the period. Assetmark Inc. grew its holdings in shares of Tri Pointe Homes by 19.6% during the 4th quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock worth $66,000 after purchasing an additional 300 shares during the period. Venturi Wealth Management LLC grew its holdings in shares of Tri Pointe Homes by 562.1% during the 4th quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock worth $81,000 after purchasing an additional 1,900 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Tri Pointe Homes by 51.4% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock worth $84,000 after purchasing an additional 789 shares during the period. Finally, Truvestments Capital LLC acquired a new position in Tri Pointe Homes during the 3rd quarter worth approximately $184,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Stock Performance

Shares of TPH opened at $31.37 on Friday. The business’s 50 day moving average is $34.29 and its two-hundred day moving average is $39.03. Tri Pointe Homes, Inc. has a 52-week low of $30.25 and a 52-week high of $47.78. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 6.49, a PEG ratio of 0.67 and a beta of 1.71. 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 announced its earnings results on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Analysts forecast that Tri Pointe Homes, Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes announced that its board has initiated a stock buyback plan on Wednesday, December 18th that permits the company to buyback $250.00 million in outstanding shares. This buyback authorization permits the construction company to purchase up to 7.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on TPH shares. Wedbush reissued a “neutral” rating and set a $38.00 price target (down from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Royal Bank of Canada lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. Evercore ISI reduced 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. StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Seaport Res Ptn raised Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tri Pointe Homes currently has an average rating of “Moderate Buy” and a consensus target price of $40.60.

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.