Tri Pointe Homes, Inc. (NYSE:TPH) Position Cut by Jennison Associates LLC

Jennison Associates LLC lessened its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 8.8% during the fourth quarter, Holdings Channel reports. The fund owned 59,507 shares of the construction company’s stock after selling 5,735 shares during the quarter. Jennison Associates LLC’s holdings in Tri Pointe Homes were worth $2,107,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. increased its stake in shares of Tri Pointe Homes by 63.8% in the fourth quarter. Pacer Advisors Inc. now owns 3,913,521 shares of the construction company’s stock valued at $138,539,000 after purchasing an additional 1,524,401 shares during the period. American Century Companies Inc. increased its position in Tri Pointe Homes by 21.7% in the 3rd quarter. American Century Companies Inc. now owns 1,683,362 shares of the construction company’s stock valued at $46,040,000 after acquiring an additional 300,383 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in Tri Pointe Homes by 44.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 800,710 shares of the construction company’s stock valued at $21,899,000 after acquiring an additional 246,648 shares in the last quarter. Richard Bernstein Advisors LLC bought a new stake in Tri Pointe Homes during the 3rd quarter valued at $4,886,000. Finally, Assenagon Asset Management S.A. boosted its position in Tri Pointe Homes by 26.9% during the 3rd quarter. Assenagon Asset Management S.A. now owns 727,045 shares of the construction company’s stock worth $19,885,000 after acquiring an additional 153,994 shares during the period. 97.01% of the stock is currently owned by institutional investors.

Insider Transactions at Tri Pointe Homes

In other news, COO Thomas J. Mitchell sold 51,533 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total transaction of $1,814,992.26. Following the sale, the chief operating officer now directly owns 785,543 shares of the company’s stock, valued at $27,666,824.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Tri Pointe Homes Stock Performance

NYSE:TPH opened at $37.87 on Friday. The company has a 50-day moving average of $35.79 and a 200-day moving average of $32.94. The firm has a market cap of $3.61 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 0.77 and a beta of 1.54. The company has a current ratio of 1.99, a quick ratio of 2.11 and a debt-to-equity ratio of 0.45. Tri Pointe Homes, Inc. has a twelve month low of $24.18 and a twelve month high of $39.08.

Tri Pointe Homes (NYSE:TPH) last issued its earnings results on Thursday, April 25th. The construction company reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.34. The firm had revenue of $918.40 million during the quarter, compared to analysts’ expectations of $867.77 million. Tri Pointe Homes had a net margin of 9.62% and a return on equity of 12.39%. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the firm posted $0.73 earnings per share. Analysts forecast that Tri Pointe Homes, Inc. will post 3.65 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Oppenheimer lifted their price objective on shares of Tri Pointe Homes from $41.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday. Wedbush restated a “neutral” rating and set a $35.00 price target on shares of Tri Pointe Homes in a research report on Thursday. StockNews.com upgraded shares of Tri Pointe Homes from a “hold” rating to a “buy” rating in a report on Friday. Finally, Royal Bank of Canada boosted their target price on Tri Pointe Homes from $38.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Tri Pointe Homes presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.60.

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.