Vestcor Inc Acquires New Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Vestcor Inc bought a new position in Tri Pointe Homes, Inc. (NYSE:TPH) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 7,298 shares of the construction company’s stock, valued at approximately $265,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new position in Tri Pointe Homes in the 4th quarter worth approximately $118,407,000. Raymond James Financial Inc. purchased a new position in shares of Tri Pointe Homes in the fourth quarter worth $13,342,000. Weiss Asset Management LP bought a new position in shares of Tri Pointe Homes during the third quarter valued at $16,066,000. HighTower Advisors LLC purchased a new stake in shares of Tri Pointe Homes during the fourth quarter valued at $5,553,000. Finally, Bridgewater Associates LP increased its holdings in Tri Pointe Homes by 476.3% in the 3rd quarter. Bridgewater Associates LP now owns 174,719 shares of the construction company’s stock worth $7,917,000 after buying an additional 144,403 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

TPH has been the topic of a number of recent analyst reports. Wedbush reaffirmed a “neutral” rating and set a $38.00 price target (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Oppenheimer dropped their target price on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. StockNews.com lowered shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Seaport Res Ptn upgraded Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Finally, Evercore ISI reduced their price objective on Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $40.60.

Tri Pointe Homes Trading Down 0.8 %

NYSE:TPH opened at $31.29 on Tuesday. Tri Pointe Homes, Inc. has a one year low of $30.25 and a one year high of $47.78. The business has a fifty day moving average price of $34.57 and a 200-day moving average price of $39.34. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 6.48, a price-to-earnings-growth ratio of 0.67 and a beta of 1.71. The company has a debt-to-equity ratio of 0.28, a current ratio of 2.24 and a quick ratio of 1.64.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Sell-side analysts forecast that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

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

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.