Ieq Capital LLC Makes New Investment in Tri Pointe Homes Inc. $TPH

Ieq Capital LLC purchased a new position in Tri Pointe Homes Inc. (NYSE:TPH) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 12,388 shares of the construction company’s stock, valued at approximately $395,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in TPH. Tower Research Capital LLC TRC lifted its position in shares of Tri Pointe Homes by 67.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,578 shares of the construction company’s stock worth $130,000 after buying an additional 1,445 shares during the last quarter. Northern Trust Corp lifted its position in shares of Tri Pointe Homes by 13.8% in the fourth quarter. Northern Trust Corp now owns 1,286,390 shares of the construction company’s stock worth $46,645,000 after buying an additional 155,694 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Tri Pointe Homes by 1.6% in the fourth quarter. AQR Capital Management LLC now owns 178,825 shares of the construction company’s stock worth $6,484,000 after buying an additional 2,758 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in shares of Tri Pointe Homes by 2.0% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 29,941 shares of the construction company’s stock worth $1,086,000 after buying an additional 573 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Tri Pointe Homes by 8.5% in the fourth quarter. Captrust Financial Advisors now owns 7,517 shares of the construction company’s stock worth $273,000 after buying an additional 586 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Trading Up 2.9%

Shares of TPH opened at $36.32 on Friday. Tri Pointe Homes Inc. has a 12-month low of $27.90 and a 12-month high of $46.91. The company has a quick ratio of 1.79, a current ratio of 1.79 and a debt-to-equity ratio of 0.28. The firm has a market capitalization of $3.29 billion, a price-to-earnings ratio of 9.24, a P/E/G ratio of 0.96 and a beta of 1.27. The stock’s 50-day moving average price is $33.71 and its 200 day moving average price is $31.91.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings results on Thursday, July 24th. The construction company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.11. Tri Pointe Homes had a return on equity of 11.33% and a net margin of 9.22%.The firm had revenue of $884.01 million for the quarter, compared to analyst estimates of $810.77 million. During the same period in the previous year, the company posted $1.25 earnings per share. The company’s quarterly revenue was down 22.3% compared to the same quarter last year. As a group, research analysts predict that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.

Tri Pointe Homes declared that its Board of Directors has initiated a stock repurchase plan on Thursday, July 24th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the construction company to repurchase up to 1.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Evercore ISI dropped their price objective on Tri Pointe Homes from $39.00 to $38.00 and set an “outperform” rating on the stock in a research note on Friday, July 25th. Wedbush reiterated an “outperform” rating and issued a $43.00 price objective on shares of Tri Pointe Homes in a research note on Friday, July 25th. Wall Street Zen upgraded Tri Pointe Homes from a “sell” rating to a “hold” rating in a research note on Saturday, August 30th. Finally, Wolfe Research lowered Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research note on Sunday, July 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.80.

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.