Artemis Investment Management LLP Grows Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Artemis Investment Management LLP lifted its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 15.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 119,565 shares of the construction company’s stock after purchasing an additional 16,370 shares during the quarter. Artemis Investment Management LLP’s holdings in Tri Pointe Homes were worth $5,417,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Caxton Associates LP boosted its holdings in shares of Tri Pointe Homes by 172.5% during the 4th quarter. Caxton Associates LP now owns 42,504 shares of the construction company’s stock valued at $1,505,000 after buying an additional 26,909 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in Tri Pointe Homes by 94.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,407 shares of the construction company’s stock worth $262,000 after purchasing an additional 3,588 shares during the period. Los Angeles Capital Management LLC increased its stake in shares of Tri Pointe Homes by 13.4% during the first quarter. Los Angeles Capital Management LLC now owns 17,424 shares of the construction company’s stock valued at $674,000 after purchasing an additional 2,063 shares in the last quarter. Signet Financial Management LLC increased its stake in shares of Tri Pointe Homes by 1.8% during the first quarter. Signet Financial Management LLC now owns 133,689 shares of the construction company’s stock valued at $5,168,000 after purchasing an additional 2,372 shares in the last quarter. Finally, Oliver Luxxe Assets LLC lifted its holdings in shares of Tri Pointe Homes by 1.2% during the first quarter. Oliver Luxxe Assets LLC now owns 29,399 shares of the construction company’s stock valued at $1,137,000 after purchasing an additional 354 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TPH has been the topic of several recent research reports. Oppenheimer upped their price target on Tri Pointe Homes from $54.00 to $56.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Evercore ISI upgraded Tri Pointe Homes to a “strong-buy” rating in a report on Friday, July 26th. Royal Bank of Canada increased their price objective on shares of Tri Pointe Homes from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Wedbush reaffirmed a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a report on Thursday, July 25th. Finally, Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price target on the stock in a report on Tuesday, September 17th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $47.25.

Tri Pointe Homes Price Performance

TPH opened at $43.69 on Thursday. The company’s 50-day simple moving average is $43.38 and its two-hundred day simple moving average is $40.29. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $4.09 billion, a P/E ratio of 11.65, a P/E/G ratio of 0.72 and a beta of 1.59. Tri Pointe Homes, Inc. has a 52-week low of $24.18 and a 52-week high of $47.78.

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

Insider Transactions at Tri Pointe Homes

In other Tri Pointe Homes news, General Counsel David Ch Lee sold 5,000 shares of the stock in a transaction dated Friday, September 13th. The stock was 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 of the company’s stock, valued at approximately $3,798,869.76. This represents a 0.00 % 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 the SEC website. In other news, CFO Glenn J. Keeler sold 24,200 shares of Tri Pointe Homes stock in a transaction on Monday, July 29th. The shares were sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the transaction, the chief financial officer now owns 149,108 shares in the company, valued at $6,882,825.28. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 sale, the general counsel now directly owns 85,792 shares of the company’s stock, valued at approximately $3,798,869.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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.