NWQ Investment Management Company LLC lowered its stake in shares of TRI Pointe Group Inc (NYSE:TPH) by 17.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,309,838 shares of the construction company’s stock after selling 1,136,764 shares during the quarter. TRI Pointe Group accounts for about 1.2% of NWQ Investment Management Company LLC’s portfolio, making the stock its 13th largest position. NWQ Investment Management Company LLC owned 3.53% of TRI Pointe Group worth $95,152,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of TPH. Renaissance Technologies LLC purchased a new stake in shares of TRI Pointe Group during the fourth quarter worth $36,591,000. Deutsche Bank AG increased its position in shares of TRI Pointe Group by 374.4% during the fourth quarter. Deutsche Bank AG now owns 2,004,693 shares of the construction company’s stock worth $35,922,000 after acquiring an additional 1,582,141 shares during the period. BlackRock Inc. increased its position in shares of TRI Pointe Group by 4.0% during the fourth quarter. BlackRock Inc. now owns 19,037,872 shares of the construction company’s stock worth $341,159,000 after acquiring an additional 729,721 shares during the period. Guggenheim Capital LLC increased its position in shares of TRI Pointe Group by 293.6% during the fourth quarter. Guggenheim Capital LLC now owns 718,277 shares of the construction company’s stock worth $12,873,000 after acquiring an additional 535,784 shares during the period. Finally, Maltese Capital Management LLC purchased a new stake in shares of TRI Pointe Group during the third quarter worth $5,662,000.
TRI Pointe Group Inc (NYSE:TPH) opened at $16.41 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $2,481.40, a price-to-earnings ratio of 13.34, a P/E/G ratio of 0.83 and a beta of 1.56. TRI Pointe Group Inc has a 12 month low of $12.01 and a 12 month high of $19.55.
TRI Pointe Group declared that its Board of Directors has approved a share repurchase program on Tuesday, February 20th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the construction company to buy shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.
A number of analysts have recently weighed in on TPH shares. Zacks Investment Research lowered TRI Pointe Group from a “buy” rating to a “hold” rating in a research report on Thursday, March 1st. Wedbush upped their price objective on TRI Pointe Group from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, December 29th. Barclays raised TRI Pointe Group from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $17.00 to $21.00 in a research report on Friday, January 5th. Finally, ValuEngine raised TRI Pointe Group from a “buy” rating to a “strong-buy” rating in a research report on Sunday, December 31st. One research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $18.88.
In related news, insider Thomas J. Mitchell sold 150,822 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $18.83, for a total transaction of $2,839,978.26. Following the completion of the transaction, the insider now owns 274,312 shares in the company, valued at $5,165,294.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Douglas F. Bauer sold 75,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $18.04, for a total transaction of $1,353,000.00. Following the transaction, the chief executive officer now owns 289,313 shares of the company’s stock, valued at approximately $5,219,206.52. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
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About TRI Pointe Group
TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. Its homebuilding operation consists of six segments: Maracay Homes, including operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado, and Winchester Homes, consisting of operations in Maryland and Virginia.
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