Teacher Retirement System of Texas Boosts Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Teacher Retirement System of Texas boosted its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 9.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 138,203 shares of the construction company’s stock after buying an additional 11,587 shares during the period. Teacher Retirement System of Texas’ holdings in Tri Pointe Homes were worth $5,011,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new position in shares of Tri Pointe Homes during the 4th quarter valued at approximately $118,407,000. Raymond James Financial Inc. bought a new position in Tri Pointe Homes during the fourth quarter valued at $13,342,000. Weiss Asset Management LP purchased a new position in shares of Tri Pointe Homes in the 3rd quarter worth $16,066,000. Boston Partners bought a new stake in shares of Tri Pointe Homes in the 4th quarter worth about $8,888,000. Finally, HighTower Advisors LLC bought a new stake in shares of Tri Pointe Homes in the 4th quarter worth about $5,553,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock opened at $31.37 on Monday. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The stock’s fifty day moving average is $34.29 and its two-hundred day moving average is $39.00. Tri Pointe Homes, Inc. has a 52 week low of $30.25 and a 52 week high of $47.78. The company has a market capitalization of $2.88 billion, a PE ratio of 6.49, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71.

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

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

Analyst Ratings Changes

TPH has been the subject of several recent research reports. Evercore ISI dropped their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company 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 dropped their target price for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Wedbush restated a “neutral” rating and set a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Seaport Res Ptn raised shares of Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Four analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.