Tri Pointe Homes, Inc. (NYSE:TPH) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP reduced its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 7.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 629,344 shares of the construction company’s stock after selling 50,963 shares during the quarter. Wellington Management Group LLP’s holdings in Tri Pointe Homes were worth $22,820,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Covestor Ltd boosted its holdings in shares of Tri Pointe Homes by 58.5% in the fourth quarter. Covestor Ltd now owns 908 shares of the construction company’s stock valued at $33,000 after acquiring an additional 335 shares during the period. Smartleaf Asset Management LLC boosted its holdings in shares of Tri Pointe Homes by 84.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock valued at $49,000 after acquiring an additional 613 shares during the period. Assetmark Inc. boosted its holdings in shares of Tri Pointe Homes by 19.6% in the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock valued at $66,000 after acquiring an additional 300 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of Tri Pointe Homes by 729.5% during the fourth quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company’s stock worth $75,000 after purchasing an additional 1,831 shares during the period. Finally, Venturi Wealth Management LLC lifted its holdings in shares of Tri Pointe Homes by 562.1% during the fourth quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock worth $81,000 after purchasing an additional 1,900 shares during the period. 97.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

TPH has been the subject of several recent research reports. Royal Bank of Canada downgraded Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Seaport Res Ptn raised Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Wedbush raised Tri Pointe Homes from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $38.00 to $43.00 in a report on Monday, April 28th. Evercore ISI decreased their price target on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, Oppenheimer decreased their price target on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $41.60.

Tri Pointe Homes Trading Down 0.8%

NYSE:TPH opened at $29.45 on Friday. The stock has a fifty day moving average price of $30.68 and a two-hundred day moving average price of $34.51. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 6.10, a PEG ratio of 0.67 and a beta of 1.34. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24. Tri Pointe Homes, Inc. has a 1 year low of $27.90 and a 1 year high of $47.78.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Thursday, April 24th. The construction company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.25. The firm had revenue of $720.79 million during the quarter, compared to analysts’ expectations of $713.65 million. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. Tri Pointe Homes’s revenue was down 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.03 earnings per share. As a group, sell-side analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Tri Pointe Homes news, CEO Douglas F. Bauer sold 120,287 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $30.15, for a total value of $3,626,653.05. Following the completion of the transaction, the chief executive officer now owns 627,833 shares in the company, valued at approximately $18,929,164.95. This represents a 16.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.70% of the stock is currently owned by company insiders.

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.