41,141 Shares in Tri Pointe Homes Inc. $TPH Bought by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC acquired a new stake in shares of Tri Pointe Homes Inc. (NYSE:TPH) during the third quarter, HoldingsChannel.com reports. The institutional investor acquired 41,141 shares of the construction company’s stock, valued at approximately $1,398,000.

A number of other large investors have also added to or reduced their stakes in TPH. Hantz Financial Services Inc. lifted its position in shares of Tri Pointe Homes by 2,659.4% during the second quarter. Hantz Financial Services Inc. now owns 1,904 shares of the construction company’s stock valued at $61,000 after buying an additional 1,835 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Tri Pointe Homes by 56.5% during the 1st quarter. Smartleaf Asset Management LLC now owns 2,096 shares of the construction company’s stock worth $67,000 after acquiring an additional 757 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Tri Pointe Homes by 104.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,157 shares of the construction company’s stock worth $69,000 after acquiring an additional 1,100 shares in the last quarter. GAMMA Investing LLC lifted its position in Tri Pointe Homes by 19.6% during the second quarter. GAMMA Investing LLC now owns 2,377 shares of the construction company’s stock valued at $76,000 after acquiring an additional 389 shares during the last quarter. Finally, Blue Trust Inc. boosted its stake in Tri Pointe Homes by 16.6% in the second quarter. Blue Trust Inc. now owns 2,982 shares of the construction company’s stock valued at $95,000 after acquiring an additional 424 shares in the last quarter. 97.01% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on TPH. Evercore ISI reaffirmed an “in-line” rating and issued a $34.00 price target (down from $38.00) on shares of Tri Pointe Homes in a report on Tuesday, October 7th. Wall Street Zen raised Tri Pointe Homes from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Finally, Weiss Ratings reaffirmed 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 assigned a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $39.25.

Tri Pointe Homes Trading Down 0.7%

NYSE TPH opened at $31.70 on Wednesday. Tri Pointe Homes Inc. has a 12-month low of $27.90 and a 12-month high of $38.96. The company has a fifty day simple moving average of $32.54 and a two-hundred day simple moving average of $33.08. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.34. The stock has a market cap of $2.72 billion, a P/E ratio of 9.35, a P/E/G ratio of 0.83 and a beta of 1.33.

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

Tri Pointe Homes Profile

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.