Arrowstreet Capital Limited Partnership Has $6.82 Million Stock Position in Tri Pointe Homes Inc. $TPH

Arrowstreet Capital Limited Partnership cut its holdings in Tri Pointe Homes Inc. (NYSE:TPH) by 63.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 213,433 shares of the construction company’s stock after selling 370,219 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Tri Pointe Homes were worth $6,819,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TPH. American Century Companies Inc. lifted its holdings in shares of Tri Pointe Homes by 13.3% in the second quarter. American Century Companies Inc. now owns 2,502,818 shares of the construction company’s stock worth $79,965,000 after acquiring an additional 293,652 shares during the last quarter. Nuveen LLC acquired a new position in Tri Pointe Homes during the 1st quarter worth approximately $43,906,000. JPMorgan Chase & Co. increased its position in Tri Pointe Homes by 37.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 877,599 shares of the construction company’s stock worth $28,039,000 after purchasing an additional 239,238 shares in the last quarter. Boston Partners lifted its stake in Tri Pointe Homes by 60.3% in the 2nd quarter. Boston Partners now owns 820,492 shares of the construction company’s stock valued at $26,217,000 after purchasing an additional 308,751 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in Tri Pointe Homes by 4.2% in the second quarter. Franklin Resources Inc. now owns 764,832 shares of the construction company’s stock valued at $24,436,000 after buying an additional 31,094 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on TPH. Evercore ISI reaffirmed an “in-line” rating and set a $34.00 target price (down previously from $38.00) on shares of Tri Pointe Homes in a research note on Tuesday, October 7th. Wall Street Zen raised Tri Pointe Homes from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Tri Pointe Homes in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, Tri Pointe Homes presently has an average rating of “Moderate Buy” and a consensus target price of $39.25.

Tri Pointe Homes Trading Up 3.0%

Shares of NYSE TPH opened at $33.70 on Thursday. The firm has a 50 day moving average price of $32.49 and a two-hundred day moving average price of $32.88. The stock has a market cap of $2.90 billion, a P/E ratio of 9.94, a price-to-earnings-growth ratio of 0.85 and a beta of 1.33. Tri Pointe Homes Inc. has a 52-week low of $27.90 and a 52-week high of $41.79. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.01 and a current ratio of 2.01.

Tri Pointe Homes (NYSE:TPH) last issued its quarterly earnings data on Thursday, October 23rd. The construction company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.20. The company had revenue of $836.87 million for the quarter, compared to analysts’ expectations of $782.22 million. Tri Pointe Homes had a net margin of 8.44% and a return on equity of 9.79%. Tri Pointe Homes’s revenue for the quarter was down 26.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.18 earnings per share. As a group, equities analysts forecast that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

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.