New York State Teachers Retirement System Grows Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

New York State Teachers Retirement System grew its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 15.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,505 shares of the construction company’s stock after buying an additional 8,948 shares during the period. New York State Teachers Retirement System’s holdings in Tri Pointe Homes were worth $2,448,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in TPH. Creative Planning lifted its holdings in shares of Tri Pointe Homes by 39.3% in the 3rd quarter. Creative Planning now owns 18,813 shares of the construction company’s stock worth $852,000 after acquiring an additional 5,310 shares during the last quarter. Blue Trust Inc. grew its position in shares of Tri Pointe Homes by 33.5% in the 3rd quarter. Blue Trust Inc. now owns 2,368 shares of the construction company’s stock worth $107,000 after buying an additional 594 shares during the period. Raymond James & Associates grew its position in shares of Tri Pointe Homes by 19.2% in the 3rd quarter. Raymond James & Associates now owns 208,566 shares of the construction company’s stock worth $9,450,000 after buying an additional 33,629 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new stake in shares of Tri Pointe Homes in the 3rd quarter worth about $259,000. Finally, Mount Yale Investment Advisors LLC purchased a new stake in Tri Pointe Homes during the 3rd quarter valued at about $270,000. 97.01% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Thomas J. Mitchell sold 77,384 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $39.15, for a total value of $3,029,583.60. Following the completion of the sale, the chief operating officer now directly owns 708,159 shares in the company, valued at $27,724,424.85. This trade represents a 9.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TPH. Royal Bank of Canada downgraded shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $41.00 to $37.00 in a research report on Wednesday. StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Oppenheimer decreased their target price on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Wednesday. Wedbush restated a “neutral” rating and set a $38.00 target price (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Finally, Evercore ISI cut their price objective on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating for the company in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $40.60.

Tri Pointe Homes Trading Down 1.6 %

TPH stock opened at $30.79 on Friday. The firm has a market cap of $2.88 billion, a PE ratio of 6.37, a price-to-earnings-growth ratio of 0.67 and a beta of 1.64. The firm has a fifty day moving average price of $36.16 and a 200 day moving average price of $40.56. Tri Pointe Homes, Inc. has a fifty-two week low of $30.25 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.

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. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. Sell-side analysts anticipate that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current fiscal year.

Tri Pointe Homes announced that its Board of Directors has initiated a share repurchase program on Wednesday, December 18th that authorizes the company to repurchase $250.00 million in shares. This repurchase authorization authorizes the construction company to repurchase up to 7.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

Tri Pointe Homes Company 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.