Jennison Associates LLC decreased its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH – Free Report) by 8.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,507 shares of the construction company’s stock after selling 5,735 shares during the quarter. Jennison Associates LLC owned about 0.06% of Tri Pointe Homes worth $2,107,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the business. Exchange Traded Concepts LLC raised its holdings in Tri Pointe Homes by 1,642.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 33,980 shares of the construction company’s stock valued at $929,000 after acquiring an additional 32,030 shares during the last quarter. Cavalier Investments LLC increased its holdings in shares of Tri Pointe Homes by 3.8% in the third quarter. Cavalier Investments LLC now owns 17,120 shares of the construction company’s stock valued at $468,000 after purchasing an additional 629 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in shares of Tri Pointe Homes by 44.5% in the third quarter. Robeco Institutional Asset Management B.V. now owns 800,710 shares of the construction company’s stock valued at $21,899,000 after purchasing an additional 246,648 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Tri Pointe Homes by 49.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,168 shares of the construction company’s stock worth $852,000 after buying an additional 10,290 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Tri Pointe Homes by 3.1% during the third quarter. Mackenzie Financial Corp now owns 26,469 shares of the construction company’s stock worth $692,000 after buying an additional 788 shares during the last quarter. 97.01% of the stock is currently owned by institutional investors and hedge funds.
Tri Pointe Homes Price Performance
Tri Pointe Homes stock opened at $37.87 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.11 and a current ratio of 1.99. The company has a market capitalization of $3.61 billion, a price-to-earnings ratio of 10.10, a price-to-earnings-growth ratio of 0.77 and a beta of 1.54. The company’s 50 day simple moving average is $35.79 and its 200-day simple moving average is $32.94. Tri Pointe Homes, Inc. has a 1 year low of $24.18 and a 1 year high of $39.08.
Insider Buying and Selling at Tri Pointe Homes
In other news, COO Thomas J. Mitchell sold 51,533 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $35.22, for a total value of $1,814,992.26. Following the completion of the transaction, the chief operating officer now owns 785,543 shares of the company’s stock, valued at $27,666,824.46. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.00% of the stock is currently owned by corporate insiders.
Analysts Set New Price Targets
A number of analysts have issued reports on TPH shares. StockNews.com raised Tri Pointe Homes from a “hold” rating to a “buy” rating in a research note on Friday. Wedbush restated a “neutral” rating and set a $35.00 price objective on shares of Tri Pointe Homes in a research report on Thursday. Royal Bank of Canada lifted their target price on shares of Tri Pointe Homes from $38.00 to $42.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Oppenheimer increased their price target on shares of Tri Pointe Homes from $41.00 to $46.00 and gave the company an “outperform” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $40.60.
Tri Pointe Homes 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.
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