OppenheimerFunds Inc. boosted its stake in TRI Pointe Group, Inc. (NYSE:TPH) by 10.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,828 shares of the construction company’s stock after buying an additional 4,368 shares during the period. OppenheimerFunds Inc.’s holdings in TRI Pointe Group were worth $600,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently made changes to their positions in TPH. Opus Capital Group LLC bought a new position in TRI Pointe Group during the first quarter worth $5,444,000. Guggenheim Capital LLC increased its stake in shares of TRI Pointe Group by 1,517.5% in the fourth quarter. Guggenheim Capital LLC now owns 429,942 shares of the construction company’s stock valued at $4,936,000 after buying an additional 403,362 shares in the last quarter. United Services Automobile Association acquired a new stake in shares of TRI Pointe Group during the first quarter valued at approximately $3,950,000. Norges Bank acquired a new stake in shares of TRI Pointe Group during the fourth quarter valued at approximately $3,253,000. Finally, Russell Investments Group Ltd. acquired a new stake in shares of TRI Pointe Group during the fourth quarter valued at approximately $2,467,000. 98.68% of the stock is owned by hedge funds and other institutional investors.
Shares of TRI Pointe Group, Inc. (NYSE TPH) traded up 0.66% on Tuesday, hitting $13.77. The company’s stock had a trading volume of 1,454,677 shares. The firm has a market cap of $2.08 billion, a price-to-earnings ratio of 16.35 and a beta of 1.66. TRI Pointe Group, Inc. has a one year low of $10.35 and a one year high of $14.21. The stock has a 50-day moving average price of $13.31 and a 200 day moving average price of $12.63.
TRI Pointe Group (NYSE:TPH) last posted its quarterly earnings data on Wednesday, July 26th. The construction company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. TRI Pointe Group had a net margin of 5.77% and a return on equity of 7.32%. The business had revenue of $568.80 million during the quarter, compared to analyst estimates of $563.72 million. During the same quarter in the previous year, the business posted $0.46 earnings per share. The company’s revenue was up 2.1% on a year-over-year basis. Equities research analysts predict that TRI Pointe Group, Inc. will post $1.35 EPS for the current year.
TRI Pointe Group declared that its Board of Directors has approved a stock repurchase program on Wednesday, July 26th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
TPH has been the topic of several recent analyst reports. ValuEngine downgraded TRI Pointe Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research cut TRI Pointe Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th. Barclays PLC cut TRI Pointe Group from an “overweight” rating to an “equal weight” rating and set a $14.00 target price on the stock. in a report on Tuesday, July 11th. BidaskClub raised TRI Pointe Group from a “hold” rating to a “buy” rating in a report on Saturday, July 1st. Finally, Citigroup Inc. cut TRI Pointe Group from a “buy” rating to a “neutral” rating and set a $15.00 target price on the stock. in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $14.13.
About TRI Pointe Group
TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. Its homebuilding operation consists of six segments: Maracay Homes, including operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado, and Winchester Homes, consisting of operations in Maryland and Virginia.
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