Illinois Municipal Retirement Fund Purchases 1,790 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Illinois Municipal Retirement Fund grew its stake in Tri Pointe Homes, Inc. (NYSE:TPH) by 3.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 53,980 shares of the construction company’s stock after acquiring an additional 1,790 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Tri Pointe Homes were worth $1,957,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Reston Wealth Management LLC purchased a new position in shares of Tri Pointe Homes in the 3rd quarter valued at $45,000. Venturi Wealth Management LLC increased its holdings in shares of Tri Pointe Homes by 562.1% in the 4th quarter. Venturi Wealth Management LLC now owns 2,238 shares of the construction company’s stock valued at $81,000 after acquiring an additional 1,900 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Tri Pointe Homes by 51.4% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,324 shares of the construction company’s stock valued at $84,000 after acquiring an additional 789 shares during the period. Truvestments Capital LLC purchased a new position in shares of Tri Pointe Homes in the 3rd quarter valued at $184,000. Finally, Blue Trust Inc. increased its holdings in shares of Tri Pointe Homes by 72.8% in the 4th quarter. Blue Trust Inc. now owns 4,093 shares of the construction company’s stock valued at $148,000 after acquiring an additional 1,725 shares during the period. 97.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TPH has been the topic of a number of analyst reports. Wedbush reiterated a “neutral” rating and issued a $38.00 price target (down from $44.00) on shares of Tri Pointe Homes in a report on Tuesday, February 18th. Oppenheimer dropped their target price on 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. Evercore ISI dropped their target price on 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 downgraded Tri Pointe Homes from an “outperform” rating to a “sector perform” rating and dropped their target price for the stock from $41.00 to $37.00 in a research note on Wednesday, February 19th. Finally, StockNews.com downgraded Tri Pointe Homes from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Tri Pointe Homes currently has a consensus rating of “Hold” and a consensus target price of $40.60.

Insider Activity

In related news, COO Thomas J. Mitchell sold 77,384 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $39.15, for a total value of $3,029,583.60. Following the completion of the transaction, the chief operating officer now owns 708,159 shares of the company’s stock, valued at approximately $27,724,424.85. This represents a 9.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

Tri Pointe Homes Stock Performance

Shares of TPH stock opened at $31.63 on Friday. The stock has a market cap of $2.91 billion, a PE ratio of 6.55, a price-to-earnings-growth ratio of 0.67 and a beta of 1.64. The business has a 50-day simple moving average of $35.57 and a 200-day simple moving average of $40.25. The company has a quick ratio of 1.64, a current ratio of 2.24 and a debt-to-equity ratio of 0.28. Tri Pointe Homes, Inc. has a 52-week low of $30.25 and a 52-week high of $47.78.

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 business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Tri Pointe Homes had a return on equity of 14.34% and a net margin of 10.36%. On average, equities analysts expect that Tri Pointe Homes, Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes declared that its board has authorized a share repurchase program on Wednesday, December 18th that allows the company to repurchase $250.00 million in shares. This repurchase authorization allows the construction company to reacquire up to 7.3% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

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.