Tri Pointe Homes, Inc. (NYSE:TPH) Stock Position Lifted by Quarry LP

Quarry LP boosted its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 123.3% in the second quarter, Holdings Channel reports. The institutional investor owned 2,401 shares of the construction company’s stock after acquiring an additional 1,326 shares during the quarter. Quarry LP’s holdings in Tri Pointe Homes were worth $89,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC acquired a new position in shares of Tri Pointe Homes in the first quarter worth $25,000. Gradient Investments LLC acquired a new position in Tri Pointe Homes in the 2nd quarter worth about $30,000. GAMMA Investing LLC raised its stake in shares of Tri Pointe Homes by 63.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company’s stock worth $57,000 after purchasing an additional 588 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Tri Pointe Homes by 31.7% during the 2nd quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock valued at $69,000 after buying an additional 427 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Tri Pointe Homes by 70.8% in the 2nd quarter. CWM LLC now owns 2,220 shares of the construction company’s stock valued at $83,000 after buying an additional 920 shares in the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on TPH shares. Evercore ISI raised shares of Tri Pointe Homes to a “strong-buy” rating in a research report on Friday, July 26th. Wedbush reaffirmed a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a research note on Thursday, July 25th. Oppenheimer increased their target price on shares of Tri Pointe Homes from $54.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday. 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. Finally, Royal Bank of Canada increased their price objective on Tri Pointe Homes from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Two equities 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $47.25.

Tri Pointe Homes Stock Down 0.9 %

Tri Pointe Homes stock opened at $44.91 on Thursday. The firm has a market cap of $4.20 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 0.74 and a beta of 1.59. The firm has a fifty day moving average price of $43.54 and a two-hundred day moving average price of $40.03. Tri Pointe Homes, Inc. has a fifty-two week low of $24.18 and a fifty-two week high of $47.78. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.29 and a quick ratio of 1.29.

Tri Pointe Homes (NYSE:TPH) last announced its earnings results on Thursday, July 25th. The construction company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.16. The firm had revenue of $1.13 billion during the quarter, compared to the consensus estimate of $1.07 billion. Tri Pointe Homes had a return on equity of 14.03% and a net margin of 10.28%. The firm’s revenue for the quarter was up 38.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 EPS. As a group, analysts forecast that Tri Pointe Homes, Inc. will post 4.68 earnings per share for the current year.

Insider Transactions at Tri Pointe Homes

In related news, General Counsel David Ch Lee sold 5,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $44.28, for a total transaction of $221,400.00. Following the transaction, the general counsel now owns 85,792 shares of the company’s stock, valued at $3,798,869.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the sale, the general counsel now directly owns 85,792 shares of the company’s stock, valued at $3,798,869.76. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Glenn J. Keeler sold 24,200 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $46.16, for a total value of $1,117,072.00. Following the completion of the transaction, the chief financial officer now directly owns 149,108 shares of the company’s stock, valued at approximately $6,882,825.28. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

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.