Millennium Management LLC Has $39.66 Million Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Millennium Management LLC decreased its holdings in Tri Pointe Homes, Inc. (NYSE:TPH) by 20.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,093,823 shares of the construction company’s stock after selling 284,224 shares during the period. Millennium Management LLC owned about 1.17% of Tri Pointe Homes worth $39,662,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Tri Pointe Homes by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 11,573,813 shares of the construction company’s stock valued at $419,666,000 after purchasing an additional 143,365 shares during the period. Pacer Advisors Inc. acquired a new position in shares of Tri Pointe Homes in the 4th quarter valued at about $118,407,000. Geode Capital Management LLC increased its holdings in shares of Tri Pointe Homes by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 2,529,823 shares of the construction company’s stock valued at $91,748,000 after purchasing an additional 44,160 shares during the period. GW&K Investment Management LLC increased its holdings in shares of Tri Pointe Homes by 5.3% in the 4th quarter. GW&K Investment Management LLC now owns 2,036,689 shares of the construction company’s stock valued at $73,850,000 after purchasing an additional 102,187 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Tri Pointe Homes by 14.0% in the 4th quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company’s stock valued at $70,579,000 after purchasing an additional 238,807 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Insider Activity

In other news, CEO Douglas F. Bauer sold 120,287 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 627,833 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.70% of the company’s stock.

Tri Pointe Homes Trading Up 0.9%

NYSE:TPH opened at $31.96 on Friday. Tri Pointe Homes, Inc. has a 12 month low of $27.90 and a 12 month high of $47.78. The firm has a market cap of $2.90 billion, a price-to-earnings ratio of 6.62, a P/E/G ratio of 0.67 and a beta of 1.34. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The company’s 50 day moving average is $30.98 and its 200-day moving average is $35.30.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings results on Thursday, April 24th. The construction company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.25. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. The company had revenue of $720.79 million for the quarter, compared to analyst estimates of $713.65 million. During the same quarter last year, the firm posted $1.03 earnings per share. The company’s quarterly revenue was down 21.5% compared to the same quarter last year. Equities analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on TPH shares. Seaport Res Ptn upgraded Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Evercore ISI dropped their price objective on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Wedbush upgraded Tri Pointe Homes from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $38.00 to $43.00 in a report on Monday, April 28th. Royal Bank of Canada downgraded Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Finally, Oppenheimer dropped their price objective on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Tri Pointe Homes currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.60.

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.