Cerity Partners LLC Reduces Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Cerity Partners LLC lowered its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 0.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 63,264 shares of the construction company’s stock after selling 583 shares during the period. Cerity Partners LLC’s holdings in Tri Pointe Homes were worth $2,294,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Pacer Advisors Inc. purchased a new position in Tri Pointe Homes in the 4th quarter worth $118,407,000. Norges Bank purchased a new position in shares of Tri Pointe Homes in the fourth quarter worth about $14,815,000. Raymond James Financial Inc. acquired a new stake in shares of Tri Pointe Homes during the fourth quarter worth about $13,342,000. Boston Partners purchased a new stake in Tri Pointe Homes in the fourth quarter valued at approximately $8,888,000. Finally, American Century Companies Inc. increased its holdings in Tri Pointe Homes by 14.0% in the 4th quarter. American Century Companies Inc. now owns 1,946,471 shares of the construction company’s stock worth $70,579,000 after buying an additional 238,807 shares during the period. 97.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Tri Pointe Homes Trading Down 0.7 %

Shares of Tri Pointe Homes stock opened at $29.32 on Wednesday. Tri Pointe Homes, Inc. has a fifty-two week low of $27.90 and a fifty-two week high of $47.78. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.24. The company has a market cap of $2.69 billion, a P/E ratio of 6.07, a price-to-earnings-growth ratio of 0.67 and a beta of 1.44. The firm has a 50-day simple moving average of $31.96 and a two-hundred day simple moving average of $37.35.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results 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. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.22 billion. As a group, equities analysts predict that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its board has initiated a share repurchase plan on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in outstanding shares. This repurchase authorization authorizes the construction company to buy up to 7.3% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.