Truist Financial Corp Invests $1.43 Million in Tri Pointe Homes, Inc. (NYSE:TPH)

Truist Financial Corp acquired a new position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 38,414 shares of the construction company’s stock, valued at approximately $1,431,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TPH. Fidelis Capital Partners LLC bought a new position in shares of Tri Pointe Homes during the 1st quarter worth about $25,000. Gradient Investments LLC acquired a new stake in shares of Tri Pointe Homes during the 2nd quarter worth about $30,000. GAMMA Investing LLC increased its position 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. increased its position 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 worth $69,000 after purchasing an additional 427 shares in the last quarter. Finally, CWM LLC increased its position in shares of Tri Pointe Homes by 70.8% during the 2nd quarter. CWM LLC now owns 2,220 shares of the construction company’s stock worth $83,000 after purchasing an additional 920 shares in the last quarter. 97.01% of the stock is owned by institutional investors.

Insider Transactions at Tri Pointe Homes

In other news, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction that occurred 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 completion of the sale, the general counsel now owns 85,792 shares in the company, valued at $3,798,869.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Glenn J. Keeler sold 24,200 shares of Tri Pointe Homes stock in a transaction that occurred 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 of the company’s stock, valued at $6,882,825.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel David Ch Lee sold 5,000 shares of Tri Pointe Homes stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $44.28, for a total transaction of $221,400.00. Following the transaction, the general counsel now directly owns 85,792 shares in the company, valued at $3,798,869.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

TPH has been the subject of a number of recent analyst reports. Royal Bank of Canada increased their target price on shares of Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. 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, October 2nd. Zelman & Associates upgraded shares of Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective for the company in a research report on Tuesday, September 17th. Evercore ISI upgraded shares of Tri Pointe Homes to a “strong-buy” rating in a research report on Friday, July 26th. Finally, Wedbush restated a “neutral” rating and issued a $42.00 price objective on shares of Tri Pointe Homes in a research report on Thursday, July 25th. Two investment 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $47.25.

Tri Pointe Homes Trading Up 1.2 %

TPH opened at $43.66 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $4.09 billion, a PE ratio of 9.92, a PEG ratio of 0.71 and a beta of 1.59. Tri Pointe Homes, Inc. has a 1-year low of $24.18 and a 1-year high of $47.78. The firm has a 50-day moving average price of $43.34 and a two-hundred day moving average price of $40.41.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Thursday, July 25th. The construction company reported $1.25 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company earned $0.60 EPS. Tri Pointe Homes’s revenue was up 38.3% on a year-over-year basis. As a group, equities analysts anticipate that Tri Pointe Homes, Inc. will post 4.68 earnings per share for the current fiscal year.

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.