Jacobs Levy Equity Management Inc. Reduces Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Jacobs Levy Equity Management Inc. lowered its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 4.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 750,909 shares of the construction company’s stock after selling 35,541 shares during the period. Jacobs Levy Equity Management Inc. owned 0.79% of Tri Pointe Homes worth $29,030,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Fidelis Capital Partners LLC bought a new position in Tri Pointe Homes during the first quarter valued at $25,000. Daiwa Securities Group Inc. purchased a new position in shares of Tri Pointe Homes during the 4th quarter valued at $35,000. Evermay Wealth Management LLC bought a new position in shares of Tri Pointe Homes during the 4th quarter worth $35,000. GAMMA Investing LLC purchased a new stake in Tri Pointe Homes in the 4th quarter worth about $41,000. Finally, Assetmark Inc. increased its stake in shares of Tri Pointe Homes by 29,825.0% in the fourth quarter. Assetmark Inc. now owns 1,197 shares of the construction company’s stock worth $42,000 after purchasing an additional 1,193 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on TPH. Royal Bank of Canada upped their price target on Tri Pointe Homes from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Friday. Evercore ISI upgraded shares of Tri Pointe Homes to a “strong-buy” rating in a research note on Friday. StockNews.com raised Tri Pointe Homes from a “hold” rating to a “buy” rating in a research note on Friday, April 26th. Oppenheimer raised their target price on shares of Tri Pointe Homes from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Wedbush reissued a “neutral” rating and issued a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday, July 25th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $45.50.

Tri Pointe Homes Trading Up 0.3 %

Shares of NYSE TPH traded up $0.13 during midday trading on Tuesday, reaching $46.16. The company had a trading volume of 929,959 shares, compared to its average volume of 965,203. The firm’s fifty day moving average price is $39.27 and its 200-day moving average price is $37.23. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.30. Tri Pointe Homes, Inc. has a one year low of $24.18 and a one year high of $47.78. The stock has a market cap of $4.32 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 0.76 and a beta of 1.59.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results on Thursday, July 25th. The construction company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.09 by $0.16. Tri Pointe Homes had a net margin of 10.28% and a return on equity of 14.03%. The company had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted $0.60 EPS. The firm’s revenue was up 38.3% compared to the same quarter last year. On average, equities research analysts anticipate that Tri Pointe Homes, Inc. will post 4.66 earnings per share for the current year.

Insider Buying and Selling

In other Tri Pointe Homes news, CFO Glenn J. Keeler sold 24,200 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the completion of the transaction, the chief financial officer now owns 149,108 shares of the company’s stock, valued at approximately $6,882,825.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Douglas F. Bauer sold 56,567 shares of Tri Pointe Homes stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $39.78, for a total value of $2,250,235.26. Following the sale, the chief executive officer now owns 677,816 shares in the company, valued at $26,963,520.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Glenn J. Keeler sold 24,200 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $46.16, for a total transaction of $1,117,072.00. Following the transaction, the chief financial officer now directly owns 149,108 shares in the company, valued at $6,882,825.28. The disclosure for this sale can be found here. 2.00% of the stock is owned by 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.