Principal Financial Group Inc. Lowers Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Principal Financial Group Inc. trimmed its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 6.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 469,720 shares of the construction company’s stock after selling 30,760 shares during the period. Principal Financial Group Inc.’s holdings in Tri Pointe Homes were worth $21,283,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James & Associates increased its position in shares of Tri Pointe Homes by 18.9% during the second quarter. Raymond James & Associates now owns 174,937 shares of the construction company’s stock valued at $6,516,000 after acquiring an additional 27,791 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Tri Pointe Homes by 3.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 916,372 shares of the construction company’s stock worth $34,135,000 after purchasing an additional 31,041 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Tri Pointe Homes by 10.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 25,535 shares of the construction company’s stock worth $951,000 after purchasing an additional 2,355 shares during the last quarter. Panagora Asset Management Inc. lifted its holdings in shares of Tri Pointe Homes by 5.4% during the second quarter. Panagora Asset Management Inc. now owns 269,398 shares of the construction company’s stock valued at $10,035,000 after purchasing an additional 13,693 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in shares of Tri Pointe Homes during the second quarter valued at $146,000. 97.01% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, COO Thomas J. Mitchell sold 77,384 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the completion of the transaction, the chief operating officer now owns 708,159 shares in the company, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Tri Pointe Homes Trading Up 0.5 %

NYSE:TPH opened at $37.16 on Thursday. Tri Pointe Homes, Inc. has a one year low of $33.24 and a one year high of $47.78. The business has a fifty day moving average price of $41.57 and a 200-day moving average price of $41.85. The firm has a market capitalization of $3.48 billion, a price-to-earnings ratio of 7.71, a price-to-earnings-growth ratio of 0.64 and a beta of 1.60. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. The company had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.05 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The firm’s revenue was up 34.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.76 EPS. Sell-side analysts forecast that Tri Pointe Homes, Inc. will post 4.72 EPS for the current year.

Tri Pointe Homes declared that its board has approved a share repurchase plan on Wednesday, December 18th that permits the company to buyback $250.00 million in shares. This buyback authorization permits the construction company to purchase up to 7.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

TPH has been the subject of a number of recent analyst reports. Royal Bank of Canada decreased their target price 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. Oppenheimer dropped their target price on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a report on Friday, October 25th. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Wedbush reaffirmed a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a report on Thursday, October 24th. Finally, Zelman & Associates raised 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. Three analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Tri Pointe Homes currently has an average 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.