Geode Capital Management LLC Has $83.21 Million Position in Tri Pointe Homes Inc. $TPH

Geode Capital Management LLC lessened its holdings in Tri Pointe Homes Inc. (NYSE:TPH) by 1.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,604,108 shares of the construction company’s stock after selling 34,222 shares during the period. Geode Capital Management LLC’s holdings in Tri Pointe Homes were worth $83,209,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Entropy Technologies LP acquired a new stake in Tri Pointe Homes during the 1st quarter valued at $676,000. AE Wealth Management LLC grew its holdings in shares of Tri Pointe Homes by 4,456.8% during the second quarter. AE Wealth Management LLC now owns 348,918 shares of the construction company’s stock worth $11,148,000 after purchasing an additional 341,261 shares during the last quarter. Factorial Partners LLC increased its stake in shares of Tri Pointe Homes by 27.9% in the first quarter. Factorial Partners LLC now owns 87,000 shares of the construction company’s stock valued at $2,777,000 after buying an additional 19,000 shares in the last quarter. HighTower Advisors LLC increased its stake in shares of Tri Pointe Homes by 31.5% in the first quarter. HighTower Advisors LLC now owns 201,374 shares of the construction company’s stock valued at $6,428,000 after buying an additional 48,241 shares in the last quarter. Finally, Ieq Capital LLC bought a new position in shares of Tri Pointe Homes in the first quarter valued at about $395,000. Institutional investors own 97.01% of the company’s stock.

Tri Pointe Homes Stock Up 6.4%

Shares of NYSE:TPH opened at $32.61 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.01 and a quick ratio of 2.01. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 9.62, a P/E/G ratio of 0.83 and a beta of 1.28. The company has a 50 day moving average of $32.62 and a 200-day moving average of $32.65. Tri Pointe Homes Inc. has a one year low of $27.90 and a one year high of $45.28.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of Tri Pointe Homes in a report on Thursday, October 30th. Wall Street Zen upgraded shares of Tri Pointe Homes from a “sell” rating to a “hold” rating in a research report on Saturday, August 30th. Wedbush reissued an “outperform” rating and issued a $43.00 price target on shares of Tri Pointe Homes in a report on Friday, July 25th. Evercore ISI restated an “in-line” rating and issued a $34.00 price objective (down previously from $38.00) on shares of Tri Pointe Homes in a research report on Tuesday, October 7th. Finally, Wolfe Research lowered Tri Pointe Homes from an “outperform” rating to a “peer perform” rating in a research report on Sunday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.25.

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.