Franklin Resources Inc. Has $26.17 Million Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Franklin Resources Inc. raised its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 721,850 shares of the construction company’s stock after acquiring an additional 9,177 shares during the quarter. Franklin Resources Inc. owned approximately 0.77% of Tri Pointe Homes worth $26,174,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CIBC Private Wealth Group LLC grew its position in Tri Pointe Homes by 8.8% during the 4th quarter. CIBC Private Wealth Group LLC now owns 3,563 shares of the construction company’s stock worth $126,000 after acquiring an additional 287 shares during the last quarter. Assetmark Inc. grew its holdings in shares of Tri Pointe Homes by 19.6% during 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. Hillsdale Investment Management Inc. increased its stake in shares of Tri Pointe Homes by 0.3% in the fourth quarter. Hillsdale Investment Management Inc. now owns 99,800 shares of the construction company’s stock valued at $3,619,000 after buying an additional 340 shares in the last quarter. Highland Capital Management LLC raised its holdings in shares of Tri Pointe Homes by 6.7% in the fourth quarter. Highland Capital Management LLC now owns 5,852 shares of the construction company’s stock valued at $212,000 after buying an additional 368 shares during the last quarter. Finally, Park Avenue Securities LLC lifted its position in Tri Pointe Homes by 7.4% during the 4th quarter. Park Avenue Securities LLC now owns 6,412 shares of the construction company’s stock worth $232,000 after buying an additional 444 shares in the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Stock Performance

Shares of Tri Pointe Homes stock opened at $31.73 on Monday. The firm has a fifty day moving average of $33.30 and a two-hundred day moving average of $38.22. 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 stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of 6.57, a PEG ratio of 0.67 and a beta of 1.44. Tri Pointe Homes, Inc. has a 52 week low of $29.91 and a 52 week high of $47.78.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Tuesday, February 18th. The construction company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.07. The business 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%. As a group, equities research analysts predict that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its Board of Directors has approved a stock buyback plan on Wednesday, December 18th that permits the company to repurchase $250.00 million in shares. This repurchase authorization permits the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TPH shares. Royal Bank of Canada cut shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $41.00 to $37.00 in a research report on Wednesday, February 19th. Evercore ISI lowered their price target 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, February 19th. Wedbush reaffirmed 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. StockNews.com cut Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Finally, Seaport Res Ptn raised Tri Pointe Homes from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Four investment 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 company. Based on data from MarketBeat, Tri Pointe Homes presently has an average rating of “Moderate Buy” and a consensus price target of $40.60.

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.