ING Groep NV bought a new position in TRI Pointe Group, Inc. (NYSE:TPH) during the second quarter, Holdings Channel reports. The fund bought 19,350 shares of the construction company’s stock, valued at approximately $255,000.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in TRI Pointe Group during the fourth quarter worth approximately $3,253,000. Creative Planning boosted its stake in TRI Pointe Group by 17,592.5% in the first quarter. Creative Planning now owns 35,208 shares of the construction company’s stock worth $442,000 after buying an additional 35,009 shares during the period. Parametrica Management Ltd bought a new stake in TRI Pointe Group during the first quarter worth approximately $302,000. Fox Run Management L.L.C. boosted its stake in TRI Pointe Group by 90.4% in the first quarter. Fox Run Management L.L.C. now owns 25,900 shares of the construction company’s stock worth $325,000 after buying an additional 12,300 shares during the period. Finally, Louisiana State Employees Retirement System boosted its stake in TRI Pointe Group by 11.4% in the first quarter. Louisiana State Employees Retirement System now owns 40,100 shares of the construction company’s stock worth $503,000 after buying an additional 4,100 shares during the period. Institutional investors own 98.68% of the company’s stock.

TRI Pointe Group, Inc. (TPH) traded up 0.51% during trading on Friday, hitting $13.78. 1,565,871 shares of the company traded hands. TRI Pointe Group, Inc. has a 52-week low of $10.35 and a 52-week high of $14.21. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 16.37 and a beta of 1.66. The company’s 50-day moving average is $13.49 and its 200 day moving average is $12.69.

TRI Pointe Group (NYSE:TPH) last issued its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.20 by $0.01. TRI Pointe Group had a return on equity of 7.32% and a net margin of 5.77%. The firm had revenue of $568.80 million during the quarter, compared to the consensus estimate of $563.72 million. During the same period last year, the company earned $0.46 earnings per share. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. On average, equities analysts anticipate that TRI Pointe Group, Inc. will post $1.35 earnings per share for the current year.

TRI Pointe Group announced that its board has approved a share repurchase plan on Wednesday, July 26th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the construction company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

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A number of analysts recently commented on TPH shares. Zacks Investment Research cut shares of TRI Pointe Group from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. ValuEngine cut shares of TRI Pointe Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. BidaskClub cut shares of TRI Pointe Group from a “hold” rating to a “sell” rating in a research note on Saturday, June 10th. Barclays PLC cut shares of TRI Pointe Group from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective for the company. in a research note on Tuesday, July 11th. Finally, TheStreet upgraded shares of TRI Pointe Group from a “c” rating to a “b-” rating in a research note on Monday, July 10th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company’s stock. TRI Pointe Group currently has a consensus rating of “Hold” and an average price target of $14.13.

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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Institutional Ownership by Quarter for TRI Pointe Group (NYSE:TPH)

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