Franklin Resources Inc. Raises Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Franklin Resources Inc. lifted its stake in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 1.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 712,673 shares of the construction company’s stock after buying an additional 9,542 shares during the quarter. Franklin Resources Inc. owned 0.76% of Tri Pointe Homes worth $31,971,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC acquired a new stake in Tri Pointe Homes in the third quarter valued at approximately $343,000. Coldstream Capital Management Inc. grew its holdings in Tri Pointe Homes by 15.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,975 shares of the construction company’s stock valued at $452,000 after purchasing an additional 1,360 shares in the last quarter. Geode Capital Management LLC increased its stake in Tri Pointe Homes by 3.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock worth $112,644,000 after buying an additional 76,830 shares during the period. Barclays PLC lifted its holdings in Tri Pointe Homes by 103.7% in the 3rd quarter. Barclays PLC now owns 209,239 shares of the construction company’s stock worth $9,480,000 after buying an additional 106,543 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in Tri Pointe Homes by 134.4% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 20,941 shares of the construction company’s stock valued at $949,000 after buying an additional 12,009 shares during the last quarter. 97.01% of the stock is owned by institutional investors and hedge funds.

Tri Pointe Homes Stock Performance

Shares of TPH opened at $36.81 on Thursday. The stock has a market capitalization of $3.45 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 0.64 and a beta of 1.60. The business’s fifty day moving average price is $42.15 and its 200 day moving average price is $41.86. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.64 and a quick ratio of 1.64. Tri Pointe Homes, Inc. has a 12-month low of $33.24 and a 12-month high of $47.78.

Tri Pointe Homes (NYSE:TPH) last posted its quarterly earnings results 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. Tri Pointe Homes had a net margin of 10.41% and a return on equity of 14.83%. The company had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the firm posted $0.76 EPS. The company’s revenue for the quarter was up 34.9% on a year-over-year basis. Equities research analysts forecast that Tri Pointe Homes, Inc. will post 4.72 EPS for the current year.

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

Analyst Ratings Changes

A number of analysts have recently issued reports on TPH shares. StockNews.com lowered Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday. Zelman & Associates upgraded Tri Pointe Homes from an “underperform” rating to a “neutral” rating and set a $43.00 price objective on the stock in a report on Tuesday, September 17th. Wedbush reiterated a “neutral” rating and set a $42.00 target price on shares of Tri Pointe Homes in a research note on Thursday, October 24th. Oppenheimer decreased 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, Royal Bank of Canada reduced their price objective on shares of Tri Pointe Homes from $48.00 to $45.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Three analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Tri Pointe Homes currently has an average rating of “Moderate Buy” and an average target price of $45.75.

Insiders Place Their Bets

In other news, COO Thomas J. Mitchell sold 77,384 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $39.15, for a total transaction of $3,029,583.60. Following the sale, the chief operating officer now directly owns 708,159 shares in the company, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

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.