Geode Capital Management LLC Boosts Stake in Tri Pointe Homes, Inc. (NYSE:TPH)

Geode Capital Management LLC raised its position in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 3.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,485,663 shares of the construction company’s stock after buying an additional 76,830 shares during the quarter. Geode Capital Management LLC’s holdings in Tri Pointe Homes were worth $112,644,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Reston Wealth Management LLC bought a new position in shares of Tri Pointe Homes during the 3rd quarter valued at approximately $45,000. Blue Trust Inc. lifted its position in Tri Pointe Homes by 31.7% during the second quarter. Blue Trust Inc. now owns 1,774 shares of the construction company’s stock valued at $69,000 after purchasing an additional 427 shares during the last quarter. Quarry LP grew its stake in shares of Tri Pointe Homes by 123.3% in the 2nd quarter. Quarry LP now owns 2,401 shares of the construction company’s stock worth $89,000 after buying an additional 1,326 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Tri Pointe Homes by 75.6% in the 3rd quarter. GAMMA Investing LLC now owns 2,669 shares of the construction company’s stock worth $121,000 after buying an additional 1,149 shares during the last quarter. Finally, CWM LLC raised its position in shares of Tri Pointe Homes by 39.3% during the 3rd quarter. CWM LLC now owns 3,092 shares of the construction company’s stock valued at $140,000 after buying an additional 872 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Analyst Ratings Changes

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

Tri Pointe Homes Price Performance

Shares of TPH stock opened at $38.17 on Wednesday. The stock has a 50 day moving average price of $42.29 and a 200 day moving average price of $41.90. The firm has a market capitalization of $3.57 billion, a P/E ratio of 7.92, a P/E/G ratio of 0.64 and a beta of 1.60. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 1.64. Tri Pointe Homes, Inc. has a 52-week low of $32.79 and a 52-week high of $47.78.

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

Insider Buying and Selling at Tri Pointe Homes

In other Tri Pointe Homes news, COO Thomas J. Mitchell sold 77,384 shares of Tri Pointe Homes stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 708,159 shares of the company’s stock, valued at $27,724,424.85. The trade was a 9.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.00% of the stock is 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.