EFG Asset Management North America Corp. Has $2.68 Million Position in Tri Pointe Homes, Inc. (NYSE:TPH)

EFG Asset Management North America Corp. boosted its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 58.8% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 73,844 shares of the construction company’s stock after acquiring an additional 27,336 shares during the period. EFG Asset Management North America Corp. owned 0.08% of Tri Pointe Homes worth $2,677,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC acquired a new stake in shares of Tri Pointe Homes in the 4th quarter valued at approximately $5,553,000. Geode Capital Management LLC raised its holdings in Tri Pointe Homes by 3.2% in the third quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock worth $112,644,000 after purchasing an additional 76,830 shares during the period. Principal Financial Group Inc. boosted its position in shares of Tri Pointe Homes by 3.5% during the fourth quarter. Principal Financial Group Inc. now owns 486,100 shares of the construction company’s stock worth $17,626,000 after purchasing an additional 16,380 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Tri Pointe Homes by 404.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 43,849 shares of the construction company’s stock worth $1,987,000 after purchasing an additional 35,162 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings in shares of Tri Pointe Homes by 2.5% in the 4th quarter. William Blair Investment Management LLC now owns 1,138,547 shares of the construction company’s stock valued at $41,284,000 after buying an additional 27,691 shares during the period. Institutional investors own 97.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently commented on TPH. Oppenheimer dropped their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Seaport Res Ptn raised Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Wedbush reiterated a “neutral” rating and issued a $38.00 price objective (down from $44.00) on shares of Tri Pointe Homes in a research report on Tuesday, February 18th. Evercore ISI dropped their target price on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Royal Bank of Canada cut shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $41.00 to $37.00 in a report on Wednesday, February 19th. Four 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.60.

Tri Pointe Homes Stock Down 0.5 %

Shares of Tri Pointe Homes stock opened at $32.26 on Wednesday. Tri Pointe Homes, Inc. has a 52-week low of $30.25 and a 52-week high of $47.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24. The business’s 50 day simple moving average is $34.16 and its 200 day simple moving average is $38.86. The firm has a market cap of $2.96 billion, a PE ratio of 6.68, a P/E/G ratio of 0.67 and a beta of 1.71.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data 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 business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. On average, analysts predict that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its board has initiated a share 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 an indication that the company’s board believes its shares are undervalued.

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.