First Trust Direct Indexing L.P. Boosts Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

First Trust Direct Indexing L.P. raised its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 9.4% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,266 shares of the construction company’s stock after buying an additional 541 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Tri Pointe Homes were worth $284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of TPH. Fidelis Capital Partners LLC purchased a new position in Tri Pointe Homes during the first quarter valued at $25,000. Gradient Investments LLC bought a new stake in shares of Tri Pointe Homes in the second quarter worth about $30,000. GAMMA Investing LLC lifted its position in shares of Tri Pointe Homes by 63.1% in the second quarter. GAMMA Investing LLC now owns 1,520 shares of the construction company’s stock worth $57,000 after buying an additional 588 shares in the last quarter. Blue Trust Inc. boosted its stake in Tri Pointe Homes by 31.7% during the second 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 holdings in Tri Pointe Homes by 70.8% during 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. Institutional investors own 97.01% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Evercore ISI upgraded Tri Pointe Homes to a “strong-buy” rating in a research report on Friday, July 26th. Oppenheimer dropped their price objective on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research note on Friday, October 25th. Royal Bank of Canada decreased their target price on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Wedbush reiterated a “neutral” rating and issued a $42.00 price target on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Finally, Zelman & Associates upgraded Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective on the stock in a research report on Tuesday, September 17th. Two investment 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 company. According to data from MarketBeat.com, Tri Pointe Homes presently has an average rating of “Moderate Buy” and a consensus target price of $45.75.

Tri Pointe Homes Price Performance

TPH stock opened at $40.90 on Tuesday. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.28. Tri Pointe Homes, Inc. has a 12 month low of $27.50 and a 12 month high of $47.78. The stock has a market cap of $3.83 billion, a PE ratio of 8.49, a P/E/G ratio of 0.66 and a beta of 1.60. The company has a 50-day moving average price of $43.61 and a 200 day moving average price of $41.12.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Thursday, October 24th. The construction company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.11. Tri Pointe Homes had a return on equity of 14.83% and a net margin of 10.41%. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the business posted $0.76 earnings per share. The company’s revenue for the quarter was up 34.9% on a year-over-year basis. Equities research analysts anticipate that Tri Pointe Homes, Inc. will post 4.74 earnings per share for the current year.

Insiders Place Their Bets

In other 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

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.