FMR LLC decreased its stake in TRI Pointe Group, Inc. (NYSE:TPH) by 95.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 59,700 shares of the construction company’s stock after selling 1,291,160 shares during the quarter. FMR LLC’s holdings in TRI Pointe Group were worth $787,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Quantum Capital Management raised its position in TRI Pointe Group by 34.2% during the 2nd quarter. Quantum Capital Management now owns 22,330 shares of the construction company’s stock valued at $295,000 after purchasing an additional 5,693 shares in the last quarter. Vanguard Group Inc. raised its position in TRI Pointe Group by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 12,202,998 shares of the construction company’s stock valued at $160,958,000 after purchasing an additional 192,415 shares in the last quarter. Northern Trust Corp raised its position in TRI Pointe Group by 7.5% during the 2nd quarter. Northern Trust Corp now owns 2,462,724 shares of the construction company’s stock valued at $32,484,000 after purchasing an additional 172,438 shares in the last quarter. Menta Capital LLC bought a new stake in TRI Pointe Group during the 2nd quarter valued at $691,000. Finally, UBS Asset Management Americas Inc. raised its position in TRI Pointe Group by 0.8% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 86,501 shares of the construction company’s stock valued at $1,141,000 after purchasing an additional 704 shares in the last quarter.
Several research analysts have recently commented on TPH shares. Citigroup Inc. lowered TRI Pointe Group from a “buy” rating to a “neutral” rating and set a $15.00 price target for the company. in a research report on Thursday, July 27th. BidaskClub downgraded TRI Pointe Group from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research downgraded TRI Pointe Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. ValuEngine upgraded TRI Pointe Group from a “hold” rating to a “buy” rating in a research note on Monday, October 2nd. Finally, Wedbush reiterated an “outperform” rating and set a $16.00 price target (down previously from $18.00) on shares of TRI Pointe Group in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $17.00.
Shares of TRI Pointe Group, Inc. (TPH) opened at $17.81 on Monday. The stock has a market capitalization of $2,679.20, a P/E ratio of 16.19, a PEG ratio of 1.19 and a beta of 1.75. TRI Pointe Group, Inc. has a 52-week low of $11.31 and a 52-week high of $17.96. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.43 and a quick ratio of 0.43.
TRI Pointe Group (NYSE:TPH) last issued its quarterly earnings data on Wednesday, October 25th. The construction company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. The company had revenue of $717.40 million during the quarter, compared to analyst estimates of $706.65 million. TRI Pointe Group had a return on equity of 9.32% and a net margin of 6.97%. The firm’s revenue for the quarter was up 24.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.22 earnings per share. sell-side analysts predict that TRI Pointe Group, Inc. will post 1.36 EPS for the current fiscal year.
TRI Pointe Group announced that its Board of Directors has authorized a share buyback plan on Wednesday, July 26th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the construction company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
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In related news, VP Glenn J. Keeler sold 15,401 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $16.98, for a total transaction of $261,508.98. Following the transaction, the vice president now owns 36,399 shares of the company’s stock, valued at $618,055.02. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Thomas J. Mitchell sold 291,039 shares of the firm’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $17.04, for a total value of $4,959,304.56. Following the transaction, the insider now directly owns 274,312 shares in the company, valued at approximately $4,674,276.48. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 913,459 shares of company stock worth $15,111,927. 2.20% of the stock is owned by insiders.
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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