Waterfront Wealth Inc. Sells 322 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Waterfront Wealth Inc. lessened its holdings in Tri Pointe Homes, Inc. (NYSE:TPH) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,968 shares of the construction company’s stock after selling 322 shares during the period. Waterfront Wealth Inc.’s holdings in Tri Pointe Homes were worth $317,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Invesco Ltd. grew its holdings in Tri Pointe Homes by 15.1% during the third quarter. Invesco Ltd. now owns 1,042,993 shares of the construction company’s stock valued at $28,526,000 after purchasing an additional 137,175 shares during the last quarter. TD Asset Management Inc raised its holdings in Tri Pointe Homes by 73.3% in the 3rd quarter. TD Asset Management Inc now owns 80,400 shares of the construction company’s stock worth $2,199,000 after acquiring an additional 34,000 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Tri Pointe Homes by 30.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 6,728 shares of the construction company’s stock worth $184,000 after acquiring an additional 1,569 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Tri Pointe Homes by 26.9% during the third quarter. Assenagon Asset Management S.A. now owns 727,045 shares of the construction company’s stock valued at $19,885,000 after acquiring an additional 153,994 shares during the period. Finally, Summit Global Investments grew its position in shares of Tri Pointe Homes by 269.2% in the third quarter. Summit Global Investments now owns 33,663 shares of the construction company’s stock valued at $921,000 after purchasing an additional 24,546 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors.

Tri Pointe Homes Price Performance

Tri Pointe Homes stock traded up $0.75 during mid-day trading on Thursday, hitting $35.26. 66,462 shares of the company were exchanged, compared to its average volume of 1,044,220. The company has a market capitalization of $3.36 billion, a PE ratio of 10.00, a price-to-earnings-growth ratio of 0.74 and a beta of 1.54. The business has a fifty day moving average of $35.68 and a 200 day moving average of $32.52. Tri Pointe Homes, Inc. has a 1-year low of $24.18 and a 1-year high of $39.08. The company has a quick ratio of 2.11, a current ratio of 2.11 and a debt-to-equity ratio of 0.46.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Tuesday, February 20th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.24. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.20 billion. Tri Pointe Homes had a net margin of 9.37% and a return on equity of 11.75%. The firm’s quarterly revenue was down 17.5% on a year-over-year basis. During the same period last year, the firm posted $1.98 EPS. As a group, sell-side analysts expect that Tri Pointe Homes, Inc. will post 3.65 earnings per share for the current year.

Insider Transactions at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 51,533 shares of the company’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the completion of the sale, the chief operating officer now owns 785,543 shares in the company, valued at approximately $27,666,824.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TPH. Royal Bank of Canada upgraded Tri Pointe Homes from a “sector perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research note on Wednesday, March 13th. Oppenheimer reaffirmed an “outperform” rating and set a $41.00 target price (up previously from $36.00) on shares of Tri Pointe Homes in a research report on Wednesday, February 21st. Finally, Wedbush reissued a “neutral” rating and issued a $32.00 price target on shares of Tri Pointe Homes in a report on Tuesday, February 20th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $38.20.

Tri Pointe Homes Company Profile

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.