Texas Permanent School Fund boosted its stake in TRI Pointe Group, Inc. (NYSE:TPH) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 116,128 shares of the construction company’s stock after buying an additional 916 shares during the period. Texas Permanent School Fund’s holdings in TRI Pointe Group were worth $1,532,000 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. Meadow Creek Investment Management LLC boosted its position in TRI Pointe Group by 26.8% in the first quarter. Meadow Creek Investment Management LLC now owns 9,180 shares of the construction company’s stock worth $115,000 after buying an additional 1,938 shares during the last quarter. World Asset Management Inc bought a new position in TRI Pointe Group during the second quarter worth $132,000. 1st Global Advisors Inc. boosted its position in TRI Pointe Group by 9.8% in the first quarter. 1st Global Advisors Inc. now owns 11,008 shares of the construction company’s stock worth $138,000 after buying an additional 984 shares during the last quarter. Cornerstone Financial Partners LLC bought a new position in TRI Pointe Group during the second quarter worth $148,000. Finally, LS Investment Advisors LLC boosted its position in TRI Pointe Group by 33.4% in the second quarter. LS Investment Advisors LLC now owns 13,083 shares of the construction company’s stock worth $173,000 after buying an additional 3,276 shares during the last quarter. Institutional investors and hedge funds own 98.68% of the company’s stock.

TRI Pointe Group, Inc. (TPH) opened at 13.76 on Wednesday. The stock has a market capitalization of $2.08 billion, a PE ratio of 16.34 and a beta of 1.66. TRI Pointe Group, Inc. has a 1-year low of $10.35 and a 1-year high of $14.21. The firm has a 50-day moving average of $13.55 and a 200-day moving average of $12.71.

TRI Pointe Group (NYSE:TPH) last announced its quarterly earnings results on Wednesday, July 26th. The construction company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. TRI Pointe Group had a net margin of 5.77% and a return on equity of 7.32%. The firm had revenue of $568.80 million during the quarter, compared to analyst estimates of $563.72 million. During the same period in the previous year, the business posted $0.46 earnings per share. The business’s revenue for the quarter was up 2.1% on a year-over-year basis. Equities analysts expect that TRI Pointe Group, Inc. will post $1.35 EPS for the current fiscal year.

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

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A number of research analysts have weighed in on the stock. Citigroup Inc. cut shares of TRI Pointe Group from a “buy” rating to a “neutral” rating and set a $15.00 target price on the stock. in a research note on Thursday, July 27th. BidaskClub upgraded shares of TRI Pointe Group from a “hold” rating to a “buy” rating in a research note on Saturday, July 1st. Zacks Investment Research upgraded shares of TRI Pointe Group from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a research note on Wednesday, July 19th. ValuEngine cut shares of TRI Pointe Group from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. 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 equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price 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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