Tri Pointe Homes Inc. $TPH Shares Bought by Teacher Retirement System of Texas

Teacher Retirement System of Texas raised its stake in Tri Pointe Homes Inc. (NYSE:TPH) by 19.0% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 84,603 shares of the construction company’s stock after purchasing an additional 13,495 shares during the period. Teacher Retirement System of Texas’ holdings in Tri Pointe Homes were worth $2,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. boosted its stake 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 valued at $296,000 after acquiring an additional 800 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Tri Pointe Homes by 57.4% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 7,880 shares of the construction company’s stock worth $252,000 after buying an additional 2,875 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Tri Pointe Homes by 2.9% during the first quarter. Principal Financial Group Inc. now owns 500,398 shares of the construction company’s stock worth $15,973,000 after buying an additional 14,298 shares during the period. Entropy Technologies LP acquired a new stake in shares of Tri Pointe Homes during the first quarter worth about $676,000. Finally, Factorial Partners LLC boosted its stake in shares of Tri Pointe Homes by 27.9% during the first quarter. Factorial Partners LLC now owns 87,000 shares of the construction company’s stock worth $2,777,000 after buying an additional 19,000 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wedbush reiterated an “outperform” rating and set a $43.00 target price on shares of Tri Pointe Homes in a research note on Friday, July 25th. Wolfe Research downgraded shares of Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research note on Sunday, July 27th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tri Pointe Homes in a research note on Thursday. Evercore ISI reiterated an “in-line” rating and set a $34.00 target price (down previously from $38.00) on shares of Tri Pointe Homes in a research note on Tuesday, October 7th. Finally, Wall Street Zen upgraded shares of Tri Pointe Homes from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. One 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 company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $39.25.

Tri Pointe Homes Trading Down 0.3%

NYSE TPH opened at $31.85 on Monday. The stock has a market capitalization of $2.74 billion, a P/E ratio of 9.40, a P/E/G ratio of 0.83 and a beta of 1.30. Tri Pointe Homes Inc. has a 52-week low of $27.90 and a 52-week high of $45.28. The firm has a 50-day moving average price of $33.86 and a 200 day moving average price of $32.57. The company has a quick ratio of 2.01, a current ratio of 2.01 and a debt-to-equity ratio of 0.34.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Thursday, October 23rd. The construction company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.20. The firm 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%. The firm’s revenue for the quarter was down 26.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.18 earnings per share. Equities research analysts expect that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

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

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.