Park Avenue Securities LLC Invests $270,000 in Tri Pointe Homes, Inc. (NYSE:TPH)

Park Avenue Securities LLC acquired a new position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,968 shares of the construction company’s stock, valued at approximately $270,000.

Other hedge funds have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Tri Pointe Homes during the second quarter valued at $9,599,000. Aristides Capital LLC bought a new stake in shares of Tri Pointe Homes during the 2nd quarter valued at about $247,000. Truist Financial Corp acquired a new stake in Tri Pointe Homes during the second quarter worth approximately $1,431,000. Quarry LP increased its holdings in Tri Pointe Homes by 123.3% in the second quarter. Quarry LP now owns 2,401 shares of the construction company’s stock worth $89,000 after purchasing an additional 1,326 shares in the last quarter. Finally, Creative Planning lifted its stake in Tri Pointe Homes by 43.0% in the second quarter. Creative Planning now owns 13,503 shares of the construction company’s stock valued at $503,000 after buying an additional 4,063 shares during the period. Institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Price Performance

TPH stock opened at $43.66 on Monday. The company has a market capitalization of $4.09 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 0.71 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. The business has a 50-day simple moving average of $43.34 and a two-hundred day simple moving average of $40.43. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.29 and a current ratio of 1.29.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings results on Thursday, July 25th. The construction company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.16. The business had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.07 billion. Tri Pointe Homes had a return on equity of 14.03% and a net margin of 10.28%. Tri Pointe Homes’s quarterly revenue was up 38.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. Research analysts expect that Tri Pointe Homes, Inc. will post 4.68 EPS for the current fiscal year.

Insider Buying and Selling

In other Tri Pointe Homes 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 transaction, the general counsel now owns 85,792 shares of the company’s stock, valued at $3,798,869.76. This trade 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. In related news, CFO Glenn J. Keeler sold 24,200 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer now owns 149,108 shares in the company, valued at approximately $6,882,825.28. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, General Counsel David Ch Lee sold 5,000 shares of the firm’s 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 owns 85,792 shares of the company’s stock, valued at $3,798,869.76. This trade represents 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.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Evercore ISI raised shares of Tri Pointe Homes to a “strong-buy” rating in a research report on Friday, July 26th. Oppenheimer boosted their target price on Tri Pointe Homes from $54.00 to $56.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Wedbush reiterated a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a report on Thursday, July 25th. Royal Bank of Canada boosted 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. Finally, 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. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $47.25.

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.