Jennison Associates LLC Acquires 5,883 Shares of Tri Pointe Homes Inc. $TPH

Jennison Associates LLC grew its holdings in Tri Pointe Homes Inc. (NYSE:TPH) by 9.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,848 shares of the construction company’s stock after acquiring an additional 5,883 shares during the period. Jennison Associates LLC’s holdings in Tri Pointe Homes were worth $2,168,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. raised its position in Tri Pointe Homes by 9.4% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,272 shares of the construction company’s stock worth $296,000 after acquiring an additional 800 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in Tri Pointe Homes by 57.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,880 shares of the construction company’s stock worth $252,000 after acquiring an additional 2,875 shares during the period. Principal Financial Group Inc. raised its position in Tri Pointe Homes by 2.9% in the first quarter. Principal Financial Group Inc. now owns 500,398 shares of the construction company’s stock worth $15,973,000 after acquiring an additional 14,298 shares during the period. Entropy Technologies LP bought a new position in Tri Pointe Homes in the first quarter worth approximately $676,000. Finally, HighTower Advisors LLC raised its position in Tri Pointe Homes by 31.5% in the first quarter. HighTower Advisors LLC now owns 201,374 shares of the construction company’s stock worth $6,428,000 after acquiring an additional 48,241 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on TPH shares. Weiss Ratings restated a “hold (c)” rating on shares of Tri Pointe Homes in a research report on Thursday. Evercore ISI restated an “in-line” rating and set a $34.00 price objective (down from $38.00) on shares of Tri Pointe Homes in a research report on Tuesday, October 7th. Wolfe Research downgraded shares of Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research report on Sunday, July 27th. Wedbush restated an “outperform” rating and set a $43.00 price objective on shares of Tri Pointe Homes in a research report on Friday, July 25th. Finally, Wall Street Zen upgraded shares of Tri Pointe Homes from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $39.25.

Tri Pointe Homes Stock Performance

TPH opened at $31.85 on Friday. The stock has a market capitalization of $2.74 billion, a price-to-earnings ratio of 9.40, a PEG ratio of 0.83 and a beta of 1.30. The company has a fifty day moving average of $33.86 and a 200 day moving average of $32.55. Tri Pointe Homes Inc. has a fifty-two week low of $27.90 and a fifty-two week high of $45.28. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.01 and a current ratio of 2.01.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Thursday, October 23rd. The construction company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.20. The company had revenue of $836.87 million during the quarter, compared to analysts’ expectations of $782.22 million. Tri Pointe Homes had a net margin of 8.44% and a return on equity of 9.79%. Tri Pointe Homes’s quarterly revenue was down 26.6% on a year-over-year basis. During the same period last year, the company posted $1.18 earnings per share. As a group, sell-side analysts forecast that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its board has authorized a stock buyback plan on Thursday, July 24th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 1.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

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.