Penserra Capital Management LLC Acquires 2,143 Shares of Tri Pointe Homes Inc. $TPH

Penserra Capital Management LLC increased its holdings in Tri Pointe Homes Inc. (NYSE:TPH) by 15.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 16,217 shares of the construction company’s stock after purchasing an additional 2,143 shares during the quarter. Penserra Capital Management LLC’s holdings in Tri Pointe Homes were worth $518,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TPH. Envestnet Asset Management Inc. lifted its holdings in Tri Pointe Homes by 2.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 172,623 shares of the construction company’s stock worth $5,510,000 after buying an additional 4,245 shares during the period. DekaBank Deutsche Girozentrale raised its position in shares of Tri Pointe Homes by 66.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 7,916 shares of the construction company’s stock worth $248,000 after acquiring an additional 3,168 shares during the last quarter. Cerity Partners LLC lifted its stake in shares of Tri Pointe Homes by 9.1% in the first quarter. Cerity Partners LLC now owns 69,018 shares of the construction company’s stock worth $2,203,000 after acquiring an additional 5,754 shares during the period. Xponance Inc. boosted its holdings in Tri Pointe Homes by 5.0% in the first quarter. Xponance Inc. now owns 7,095 shares of the construction company’s stock valued at $226,000 after acquiring an additional 336 shares during the last quarter. Finally, New York State Common Retirement Fund increased its position in Tri Pointe Homes by 2.0% during the 1st quarter. New York State Common Retirement Fund now owns 59,760 shares of the construction company’s stock valued at $1,908,000 after purchasing an additional 1,150 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Tri Pointe Homes Price Performance

Shares of NYSE TPH opened at $32.14 on Wednesday. The firm has a market capitalization of $2.76 billion, a P/E ratio of 9.48, a P/E/G ratio of 0.83 and a beta of 1.28. The firm’s 50-day moving average price is $33.35 and its 200-day moving average price is $32.64. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.34. Tri Pointe Homes Inc. has a 1-year low of $27.90 and a 1-year high of $45.28.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results on Thursday, October 23rd. The construction company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.20. Tri Pointe Homes had a return on equity of 9.79% and a net margin of 8.44%.The business had revenue of $836.87 million during the quarter, compared to analyst estimates of $782.22 million. During the same period in the previous year, the company posted $1.18 EPS. The firm’s revenue was down 26.6% compared to the same quarter last year. Equities research analysts anticipate that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its Board of Directors has authorized a share repurchase program on Thursday, July 24th that permits the company to buyback $50.00 million in outstanding 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 shares are undervalued.

Analysts Set New Price Targets

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

Tri Pointe Homes 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.