M&G PLC Purchases New Holdings in Tri Pointe Homes Inc. $TPH

M&G PLC acquired a new position in Tri Pointe Homes Inc. (NYSE:TPH) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 301,448 shares of the construction company’s stock, valued at approximately $9,646,000.

Other hedge funds have also made changes to their positions in the company. American Century Companies Inc. boosted its stake in Tri Pointe Homes by 13.5% during the 1st quarter. American Century Companies Inc. now owns 2,209,166 shares of the construction company’s stock worth $70,517,000 after purchasing an additional 262,695 shares during the last quarter. LSV Asset Management lifted its stake in Tri Pointe Homes by 4.8% in the 1st quarter. LSV Asset Management now owns 1,762,922 shares of the construction company’s stock worth $56,272,000 after purchasing an additional 80,198 shares in the last quarter. Nuveen LLC acquired a new position in shares of Tri Pointe Homes during the 1st quarter worth approximately $43,906,000. Allianz Asset Management GmbH grew its position in shares of Tri Pointe Homes by 54.8% in the first quarter. Allianz Asset Management GmbH now owns 1,255,057 shares of the construction company’s stock valued at $40,061,000 after purchasing an additional 444,153 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in shares of Tri Pointe Homes by 7.1% in the first quarter. Royce & Associates LP now owns 577,303 shares of the construction company’s stock valued at $18,428,000 after purchasing an additional 38,223 shares during the last quarter. Institutional investors and hedge funds own 97.01% of the company’s stock.

Tri Pointe Homes Price Performance

TPH stock opened at $32.22 on Thursday. The business’s fifty day moving average price is $33.28 and its 200 day moving average price is $32.63. Tri Pointe Homes Inc. has a 12-month low of $27.90 and a 12-month high of $45.28. The company has a market capitalization of $2.77 billion, a PE ratio of 9.50, a P/E/G ratio of 0.83 and a beta of 1.28. The company has a current ratio of 2.01, a quick ratio of 2.01 and a debt-to-equity ratio of 0.34.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Thursday, October 23rd. The construction company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.20. The company had revenue of $836.87 million during 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%.Tri Pointe Homes’s revenue was down 26.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.18 EPS. On average, sell-side analysts anticipate that Tri Pointe Homes Inc. will post 3.58 EPS for the current year.

Tri Pointe Homes announced that its board has initiated a share buyback program on Thursday, July 24th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the construction company to purchase up to 1.6% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have issued reports on TPH. Evercore ISI reaffirmed an “in-line” rating and issued a $34.00 target price (down from $38.00) on shares of Tri Pointe Homes in a research note on Tuesday, October 7th. Wedbush reissued an “outperform” rating and issued a $43.00 price target on shares of Tri Pointe Homes in a research note on Friday, July 25th. Wall Street Zen upgraded shares of Tri Pointe Homes from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of Tri Pointe Homes in a report on Thursday, October 30th. 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 investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $39.25.

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.