Hennion & Walsh Asset Management Inc. Grows Stock Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Hennion & Walsh Asset Management Inc. increased its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 34.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,661 shares of the construction company’s stock after purchasing an additional 1,949 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Tri Pointe Homes were worth $278,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. lifted its holdings in shares of Tri Pointe Homes by 95.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 123,365 shares of the construction company’s stock valued at $4,595,000 after buying an additional 60,093 shares during the period. Massachusetts Financial Services Co. MA bought a new position in Tri Pointe Homes in the second quarter valued at about $324,000. Mercer Global Advisors Inc. ADV boosted its position in Tri Pointe Homes by 4.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 38,393 shares of the construction company’s stock worth $1,430,000 after purchasing an additional 1,570 shares during the last quarter. Hsbc Holdings PLC boosted its position in Tri Pointe Homes by 240.6% in the second quarter. Hsbc Holdings PLC now owns 77,856 shares of the construction company’s stock worth $2,886,000 after purchasing an additional 54,999 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of Tri Pointe Homes by 291.3% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 4,340 shares of the construction company’s stock valued at $162,000 after purchasing an additional 3,231 shares during the period. Institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Price Performance

Shares of NYSE:TPH opened at $37.17 on Wednesday. The company has a market capitalization of $3.48 billion, a P/E ratio of 7.71, a P/E/G ratio of 0.60 and a beta of 1.64. Tri Pointe Homes, Inc. has a 1-year low of $33.24 and a 1-year high of $47.78. The firm’s 50 day simple moving average is $39.20 and its two-hundred day simple moving average is $41.73. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 EPS for the quarter, beating the consensus estimate of $1.07 by $0.11. The firm had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.05 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The company’s revenue was up 34.9% on a year-over-year basis. During the same period last year, the firm earned $0.76 EPS. Research analysts expect that Tri Pointe Homes, Inc. will post 4.72 EPS for the current fiscal year.

Tri Pointe Homes declared that its board has authorized a stock buyback plan on Wednesday, December 18th that authorizes the company to buyback $250.00 million in shares. This buyback authorization authorizes the construction company to purchase up to 7.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

TPH has been the topic of several recent research reports. StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Oppenheimer decreased their price target on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Royal Bank of Canada cut their price objective on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a report on Thursday, October 24th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Tri Pointe Homes presently has an average rating of “Moderate Buy” and an average price target of $45.75.

Insider Activity

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the completion of the sale, the chief operating officer now directly owns 708,159 shares of the company’s stock, valued at $27,724,424.85. This trade represents a 9.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 2.50% 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.