Morgan Stanley Purchases 1,296,829 Shares of TRI Pointe Group Inc (NYSE:TPH)

Morgan Stanley increased its position in shares of TRI Pointe Group Inc (NYSE:TPH) by 125.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,334,620 shares of the construction company’s stock after buying an additional 1,296,829 shares during the period. Morgan Stanley’s holdings in TRI Pointe Group were worth $20,474,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TPH. Victory Capital Management Inc. raised its holdings in TRI Pointe Group by 3,648.7% in the 1st quarter. Victory Capital Management Inc. now owns 1,925,632 shares of the construction company’s stock worth $16,888,000 after acquiring an additional 1,874,264 shares during the period. Norges Bank acquired a new stake in shares of TRI Pointe Group in the fourth quarter valued at about $26,739,000. Fuller & Thaler Asset Management Inc. grew its position in shares of TRI Pointe Group by 76.4% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 3,919,731 shares of the construction company’s stock valued at $34,376,000 after purchasing an additional 1,697,066 shares during the last quarter. Echo Street Capital Management LLC increased its stake in shares of TRI Pointe Group by 34.5% in the first quarter. Echo Street Capital Management LLC now owns 4,527,884 shares of the construction company’s stock worth $39,710,000 after purchasing an additional 1,162,244 shares during the period. Finally, Franklin Resources Inc. acquired a new position in shares of TRI Pointe Group during the 4th quarter worth about $17,083,000.

A number of research firms have issued reports on TPH. Wells Fargo & Co raised their target price on TRI Pointe Group from $11.00 to $16.00 and gave the company an “equal weight” rating in a report on Wednesday, June 3rd. B. Riley lowered shares of TRI Pointe Group from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $20.00 to $11.00 in a research report on Tuesday, March 17th. ValuEngine cut shares of TRI Pointe Group from a “sell” rating to a “strong sell” rating in a research note on Friday, May 1st. Zacks Investment Research lowered shares of TRI Pointe Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 18th. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $16.00 price objective on shares of TRI Pointe Group in a research report on Wednesday, March 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $14.80.

Shares of TPH stock opened at $14.69 on Wednesday. TRI Pointe Group Inc has a one year low of $5.89 and a one year high of $18.63. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.80 and a quick ratio of 1.80. The stock has a fifty day moving average price of $13.69 and a 200 day moving average price of $13.72. The stock has a market cap of $1.73 billion, a P/E ratio of 8.59 and a beta of 1.64.

TRI Pointe Group (NYSE:TPH) last announced its quarterly earnings data on Thursday, April 23rd. The construction company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.08. TRI Pointe Group had a net margin of 7.51% and a return on equity of 11.25%. The company had revenue of $595.46 million during the quarter, compared to analysts’ expectations of $566.91 million. The business’s quarterly revenue was up 20.5% on a year-over-year basis. Equities research analysts anticipate that TRI Pointe Group Inc will post 1.19 EPS for the current year.

TRI Pointe Group Company Profile

TRI Pointe Group, Inc engages in the design, construction, and sale of single-family detached and attached homes in the United States. It operates a portfolio of 6 brands across 10 states, including Maracay in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California, Colorado, and Colorado; and Winchester Homes in Maryland and Virginia.

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Institutional Ownership by Quarter for TRI Pointe Group (NYSE:TPH)

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