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

Allianz Asset Management GmbH boosted its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 4.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 810,904 shares of the construction company’s stock after purchasing an additional 34,371 shares during the quarter. Allianz Asset Management GmbH’s holdings in Tri Pointe Homes were worth $29,403,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates grew its stake in Tri Pointe Homes by 19.2% in the 3rd 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 period. Geode Capital Management LLC grew its stake in Tri Pointe Homes by 3.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,485,663 shares of the construction company’s stock valued at $112,644,000 after acquiring an additional 76,830 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Tri Pointe Homes by 404.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 43,849 shares of the construction company’s stock valued at $1,987,000 after acquiring an additional 35,162 shares during the period. Atria Investments Inc grew its stake in Tri Pointe Homes by 30.0% in the 3rd quarter. Atria Investments Inc now owns 15,839 shares of the construction company’s stock valued at $718,000 after acquiring an additional 3,653 shares during the period. Finally, Burney Co. grew its stake in Tri Pointe Homes by 61.1% in the 4th quarter. Burney Co. now owns 64,217 shares of the construction company’s stock valued at $2,329,000 after acquiring an additional 24,358 shares during the period. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Stock Down 1.6 %

Shares of TPH opened at $30.79 on Monday. The firm has a market cap of $2.88 billion, a P/E ratio of 6.37, a price-to-earnings-growth ratio of 0.67 and a beta of 1.64. Tri Pointe Homes, Inc. has a 12-month low of $30.25 and a 12-month high of $47.78. The company’s 50-day moving average price is $36.16 and its 200 day moving average price is $40.55. The company has a current ratio of 2.24, a quick 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 Tuesday, February 18th. The construction company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.07. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.22 billion. Tri Pointe Homes had a net margin of 10.36% and a return on equity of 14.34%. On average, sell-side analysts forecast that Tri Pointe Homes, Inc. will post 3.58 earnings per share for the current year.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Evercore ISI dropped their price target on shares of Tri Pointe Homes from $54.00 to $42.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Royal Bank of Canada cut shares of Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $41.00 to $37.00 in a research note on Wednesday, February 19th. Wedbush reaffirmed a “neutral” rating and set a $38.00 target price (down previously from $44.00) on shares of Tri Pointe Homes in a research note on Tuesday, February 18th. Oppenheimer lowered their target price on shares of Tri Pointe Homes from $53.00 to $43.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, StockNews.com cut shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Tri Pointe Homes presently has an average rating of “Hold” and a consensus target price of $40.60.

Insider Activity at Tri Pointe Homes

In related news, COO Thomas J. Mitchell sold 77,384 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $39.15, for a total value 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. The trade was a 9.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 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.