JPMorgan Chase & Co. Grows Position in Tri Pointe Homes Inc. $TPH

JPMorgan Chase & Co. boosted its position in shares of Tri Pointe Homes Inc. (NYSE:TPH) by 14.9% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,008,454 shares of the construction company’s stock after acquiring an additional 130,855 shares during the quarter. JPMorgan Chase & Co.’s holdings in Tri Pointe Homes were worth $34,257,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings in shares of Tri Pointe Homes by 353.2% in the second quarter. AQR Capital Management LLC now owns 687,307 shares of the construction company’s stock valued at $21,788,000 after acquiring an additional 535,640 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Tri Pointe Homes by 52.7% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 895,569 shares of the construction company’s stock valued at $30,422,000 after purchasing an additional 309,223 shares during the last quarter. Boston Partners raised its position 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. American Century Companies Inc. boosted its stake in Tri Pointe Homes by 13.3% during the 2nd quarter. American Century Companies Inc. now owns 2,502,818 shares of the construction company’s stock worth $79,965,000 after purchasing an additional 293,652 shares during the period. Finally, Bank of America Corp DE grew its position in Tri Pointe Homes by 34.1% during the 3rd quarter. Bank of America Corp DE now owns 1,099,955 shares of the construction company’s stock worth $37,365,000 after purchasing an additional 279,979 shares during the last quarter. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Stock Performance

Shares of TPH opened at $46.61 on Monday. The stock has a market capitalization of $3.97 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.39 and a beta of 1.34. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.63 and a current ratio of 2.63. Tri Pointe Homes Inc. has a 1 year low of $27.90 and a 1 year high of $46.67. The company’s fifty day moving average is $40.85 and its two-hundred day moving average is $35.74.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Wednesday, February 25th. The construction company reported $0.80 EPS for the quarter, topping the consensus estimate of $0.78 by $0.02. The company had revenue of $972.63 million during the quarter, compared to analysts’ expectations of $917.86 million. Tri Pointe Homes had a net margin of 7.09% and a return on equity of 7.96%. The business’s revenue was down 22.5% on a year-over-year basis. During the same quarter last year, the business earned $1.37 EPS. On average, sell-side analysts predict that Tri Pointe Homes Inc. will post 3.58 earnings per share for the current year.

Insiders Place Their Bets

In other Tri Pointe Homes news, Director Steven J. Gilbert sold 50,000 shares of Tri Pointe Homes stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $46.33, for a total value of $2,316,500.00. Following the sale, the director owned 30,330 shares of the company’s stock, valued at approximately $1,405,188.90. The trade was a 62.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on TPH. Weiss Ratings restated a “hold (c)” rating on shares of Tri Pointe Homes in a research note on Tuesday, January 27th. Oppenheimer downgraded shares of Tri Pointe Homes from an “outperform” rating to a “market perform” rating in a research note on Friday, February 13th. Royal Bank Of Canada raised their price target on Tri Pointe Homes from $31.00 to $47.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 17th. Citigroup initiated coverage on Tri Pointe Homes in a research note on Wednesday, January 7th. They set an “outperform” rating for the company. Finally, Citizens Jmp began coverage on Tri Pointe Homes in a research report on Wednesday, January 7th. They set a “market outperform” rating and a $46.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Tri Pointe Homes currently has an average rating of “Hold” and a consensus target price of $42.50.

About Tri Pointe Homes

Tri Pointe Homes, Inc (NYSE: TPH) is a national homebuilder engaged in the acquisition, development, construction, marketing and sale of single-family detached homes and attached products. The company’s operations span a range of new residential communities, offering customizable floor plans in both tract and luxury segments. Its integrated business model encompasses land sourcing, entitlement, design, construction oversight and in-house customer care and warranty service.

Founded in 2009 through the combination of three regional builders, Tri Pointe Homes has grown into a prominent player across key western U.S.