25,800 Shares in Tri Pointe Homes, Inc. (NYSE:TPH) Acquired by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 25,800 shares of the construction company’s stock, valued at approximately $936,000.

Other hedge funds have also recently added to or reduced their stakes in the company. HighTower Advisors LLC bought a new stake in shares of Tri Pointe Homes during the 4th quarter valued at about $5,553,000. Geode Capital Management LLC grew its position in shares of Tri Pointe Homes by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock worth $112,644,000 after buying an additional 76,830 shares during the period. Principal Financial Group Inc. increased its stake in shares of Tri Pointe Homes by 3.5% in the 4th quarter. Principal Financial Group Inc. now owns 486,100 shares of the construction company’s stock valued at $17,626,000 after acquiring an additional 16,380 shares in the last quarter. William Blair Investment Management LLC lifted its position in shares of Tri Pointe Homes by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 1,138,547 shares of the construction company’s stock valued at $41,284,000 after acquiring an additional 27,691 shares during the period. Finally, New York State Teachers Retirement System grew its holdings in Tri Pointe Homes by 15.3% in the fourth quarter. New York State Teachers Retirement System now owns 67,505 shares of the construction company’s stock worth $2,448,000 after purchasing an additional 8,948 shares during the period. Institutional investors own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on TPH. Evercore ISI dropped their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Royal Bank of Canada lowered Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $41.00 to $37.00 in a report on Wednesday, February 19th. Oppenheimer lowered their target price on Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Wedbush restated a “neutral” rating and set a $38.00 price objective (down previously from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Four 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 company’s stock. Based on data from MarketBeat, Tri Pointe Homes presently has a consensus rating of “Moderate Buy” and an average target price of $40.60.

Tri Pointe Homes Stock Up 0.4 %

Shares of NYSE:TPH opened at $31.96 on Tuesday. The business’s 50 day moving average is $33.75 and its 200 day moving average is $38.58. Tri Pointe Homes, Inc. has a 12-month low of $30.25 and a 12-month high of $47.78. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 6.62, a PEG ratio of 0.67 and a beta of 1.71. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. On average, sell-side analysts forecast that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes declared that its board has approved a stock buyback program 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 programs are often an indication that the company’s leadership 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.