Tri Pointe Homes, Inc. (NYSE:TPH) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue trimmed its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 4.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,407 shares of the construction company’s stock after selling 2,297 shares during the period. State of Alaska Department of Revenue’s holdings in Tri Pointe Homes were worth $2,419,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Tri Pointe Homes in the 3rd quarter worth $226,000. Highland Capital Management LLC bought a new stake in Tri Pointe Homes in the third quarter worth about $248,000. Legacy Wealth Asset Management LLC bought a new stake in Tri Pointe Homes in the third quarter worth about $217,000. Mount Yale Investment Advisors LLC acquired a new stake in Tri Pointe Homes in the 3rd quarter valued at about $270,000. Finally, Assenagon Asset Management S.A. boosted its position in shares of Tri Pointe Homes by 260.8% during the 3rd quarter. Assenagon Asset Management S.A. now owns 1,417,263 shares of the construction company’s stock valued at $64,216,000 after purchasing an additional 1,024,425 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Tri Pointe Homes news, General Counsel David Ch Lee sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the transaction, the general counsel now owns 85,792 shares in the company, valued at approximately $3,798,869.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Tri Pointe Homes Price Performance

Shares of NYSE:TPH opened at $40.44 on Friday. The company’s fifty day moving average is $43.81 and its two-hundred day moving average is $40.95. The company has a market cap of $3.78 billion, a P/E ratio of 8.39, a price-to-earnings-growth ratio of 0.66 and a beta of 1.59. Tri Pointe Homes, Inc. has a 12-month low of $24.74 and a 12-month high of $47.78. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.11. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the business earned $0.76 EPS. The business’s revenue for the quarter was up 34.9% on a year-over-year basis. Equities analysts expect that Tri Pointe Homes, Inc. will post 4.68 earnings per share for the current fiscal year.

Analysts Set New Price Targets

TPH has been the subject of several recent research reports. Oppenheimer cut their target price on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada cut their price objective on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Zelman & Associates upgraded Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price on the stock in a report on Tuesday, September 17th. Wedbush reaffirmed a “neutral” rating and set a $42.00 target price on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Finally, Evercore ISI upgraded Tri Pointe Homes to a “strong-buy” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Tri Pointe Homes presently has a consensus rating of “Moderate Buy” and an average target price of $45.75.

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.