Mackenzie Financial Corp Sells 2,005 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Mackenzie Financial Corp cut its holdings in Tri Pointe Homes, Inc. (NYSE:TPH) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,464 shares of the construction company’s stock after selling 2,005 shares during the period. Mackenzie Financial Corp’s holdings in Tri Pointe Homes were worth $866,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Phocas Financial Corp. lifted its stake in Tri Pointe Homes by 1.9% in the fourth quarter. Phocas Financial Corp. now owns 245,139 shares of the construction company’s stock worth $8,678,000 after purchasing an additional 4,453 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in Tri Pointe Homes in the fourth quarter worth $1,720,000. Cerity Partners LLC bought a new stake in Tri Pointe Homes in the fourth quarter worth $206,000. Sequoia Financial Advisors LLC bought a new stake in Tri Pointe Homes in the fourth quarter worth $392,000. Finally, Nisa Investment Advisors LLC lifted its stake in Tri Pointe Homes by 105.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,362 shares of the construction company’s stock worth $48,000 after purchasing an additional 700 shares during the last quarter. 97.01% of the stock is owned by institutional investors.

Insider Activity at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 51,533 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the transaction, the chief operating officer now owns 785,543 shares in the company, valued at $27,666,824.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by corporate insiders.

Tri Pointe Homes Price Performance

TPH stock opened at $36.80 on Friday. Tri Pointe Homes, Inc. has a 12-month low of $24.18 and a 12-month high of $39.08. The company has a current ratio of 2.11, a quick ratio of 2.11 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average price is $35.73 and its two-hundred day moving average price is $32.86. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 10.67, a PEG ratio of 0.76 and a beta of 1.54.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Tuesday, February 20th. The construction company reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.24. Tri Pointe Homes had a net margin of 9.37% and a return on equity of 11.75%. The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the company earned $1.98 earnings per share. Tri Pointe Homes’s quarterly revenue was down 17.5% on a year-over-year basis. As a group, equities analysts predict that Tri Pointe Homes, Inc. will post 3.65 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TPH. Royal Bank of Canada raised shares of Tri Pointe Homes from a “sector perform” rating to an “outperform” rating and set a $38.00 price target for the company in a research note on Wednesday, March 13th. Wedbush restated a “neutral” rating and issued a $35.00 price objective on shares of Tri Pointe Homes in a research report on Thursday. Finally, Oppenheimer restated an “outperform” rating and issued a $41.00 price objective (up previously from $36.00) on shares of Tri Pointe Homes in a research report on Wednesday, February 21st. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Tri Pointe Homes currently has an average rating of “Moderate Buy” and an average target price of $38.80.

Tri Pointe Homes 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.