Fisher Asset Management LLC Boosts Stock Holdings in Tri Pointe Homes, Inc. (NYSE:TPH)

Fisher Asset Management LLC raised its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 725,537 shares of the construction company’s stock after purchasing an additional 6,079 shares during the quarter. Fisher Asset Management LLC owned about 0.78% of Tri Pointe Homes worth $32,874,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in the stock. Raymond James & Associates boosted its holdings in Tri Pointe Homes by 19.2% in the third quarter. Raymond James & Associates now owns 208,566 shares of the construction company’s stock valued at $9,450,000 after acquiring an additional 33,629 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Tri Pointe Homes by 3,110.4% in the 2nd quarter. SG Americas Securities LLC now owns 107,710 shares of the construction company’s stock valued at $4,012,000 after purchasing an additional 104,355 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of Tri Pointe Homes by 10,048.1% during the 2nd quarter. Federated Hermes Inc. now owns 35,011 shares of the construction company’s stock worth $1,304,000 after purchasing an additional 34,666 shares during the period. Jane Street Group LLC increased its position in Tri Pointe Homes by 171.3% during the 1st quarter. Jane Street Group LLC now owns 293,636 shares of the construction company’s stock worth $11,352,000 after purchasing an additional 185,395 shares in the last quarter. Finally, Millennium Management LLC raised its holdings in Tri Pointe Homes by 14.1% in the second quarter. Millennium Management LLC now owns 925,498 shares of the construction company’s stock valued at $34,475,000 after buying an additional 114,244 shares during the period. 97.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TPH shares. Royal Bank of Canada lowered their target price on Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Zelman & Associates raised Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 target price on the stock in a research report on Tuesday, September 17th. Oppenheimer reduced their price target on shares of Tri Pointe Homes from $56.00 to $53.00 and set an “outperform” rating for the company in a research report on Friday, October 25th. Finally, Wedbush restated a “neutral” rating and set a $42.00 price objective on shares of Tri Pointe Homes in a research report on Thursday, October 24th. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $45.75.

Tri Pointe Homes Price Performance

NYSE TPH opened at $43.64 on Wednesday. The company has a 50 day moving average price of $43.23 and a two-hundred day moving average price of $41.62. Tri Pointe Homes, Inc. has a 12-month low of $28.74 and a 12-month high of $47.78. The stock has a market capitalization of $4.08 billion, a PE ratio of 9.05, a price-to-earnings-growth ratio of 0.69 and a beta of 1.60. The company has a quick ratio of 1.64, a current ratio of 1.64 and a debt-to-equity ratio of 0.28.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Thursday, October 24th. The construction company reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.07 by $0.11. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. Tri Pointe Homes’s revenue for the quarter was up 34.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. As a group, equities analysts predict that Tri Pointe Homes, Inc. will post 4.72 earnings per share for the current fiscal year.

Insider Transactions at Tri Pointe Homes

In other news, General Counsel David Ch Lee sold 5,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $44.28, for a total value of $221,400.00. Following the completion of the sale, the general counsel now directly owns 85,792 shares in the company, valued at approximately $3,798,869.76. The trade was a 5.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

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.