Hennion & Walsh Asset Management Inc. Reduces Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Hennion & Walsh Asset Management Inc. cut its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 8.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,048 shares of the construction company’s stock after selling 613 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Tri Pointe Homes were worth $225,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Covestor Ltd boosted its position in Tri Pointe Homes by 58.5% in the fourth quarter. Covestor Ltd now owns 908 shares of the construction company’s stock worth $33,000 after purchasing an additional 335 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in Tri Pointe Homes by 84.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,339 shares of the construction company’s stock worth $49,000 after purchasing an additional 613 shares during the last quarter. Assetmark Inc. boosted its position in Tri Pointe Homes by 19.6% in the fourth quarter. Assetmark Inc. now owns 1,827 shares of the construction company’s stock worth $66,000 after purchasing an additional 300 shares during the last quarter. Sterling Capital Management LLC boosted its position in Tri Pointe Homes by 729.5% in the fourth quarter. Sterling Capital Management LLC now owns 2,082 shares of the construction company’s stock worth $75,000 after purchasing an additional 1,831 shares during the last quarter. Finally, Venturi Wealth Management LLC boosted its position in Tri Pointe Homes by 562.1% in the fourth quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock worth $81,000 after purchasing an additional 1,900 shares during the last quarter. 97.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on TPH. Royal Bank of Canada cut Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $41.00 to $37.00 in a research report on Wednesday, February 19th. Wedbush raised Tri Pointe Homes from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $38.00 to $43.00 in a research report on Monday, April 28th. 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 research report on Wednesday, February 19th. Seaport Res Ptn raised Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 6th. Finally, Oppenheimer lowered their price objective 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. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $41.60.

Tri Pointe Homes Stock Up 2.1%

TPH stock opened at $30.66 on Tuesday. Tri Pointe Homes, Inc. has a twelve month low of $27.90 and a twelve month high of $47.78. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. The stock has a market cap of $2.78 billion, a P/E ratio of 6.35, a PEG ratio of 0.67 and a beta of 1.24. The business’s 50-day moving average price is $30.41 and its 200-day moving average price is $33.96.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Thursday, April 24th. The construction company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.25. The firm had revenue of $720.79 million during the quarter, compared to analyst estimates of $713.65 million. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. The business’s quarterly revenue was down 21.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.03 earnings per share. On average, equities research analysts forecast that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Insider Activity

In other news, CEO Douglas F. Bauer sold 120,287 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $30.15, for a total transaction of $3,626,653.05. Following the transaction, the chief executive officer now owns 627,833 shares of the company’s stock, valued at approximately $18,929,164.95. The trade was a 16.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.70% of the company’s stock.

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.