California State Teachers Retirement System lessened its stake in TRI Pointe Group (NYSE:TPH) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 236,566 shares of the construction company’s stock after selling 3,676 shares during the quarter. California State Teachers Retirement System’s holdings in TRI Pointe Group were worth $4,239,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Virtu Financial LLC acquired a new stake in shares of TRI Pointe Group in the 3rd quarter valued at about $197,000. Jefferies Group LLC acquired a new stake in TRI Pointe Group during the fourth quarter worth about $237,000. California Public Employees Retirement System raised its stake in TRI Pointe Group by 140.0% during the third quarter. California Public Employees Retirement System now owns 24,000 shares of the construction company’s stock worth $331,000 after acquiring an additional 14,000 shares during the period. Acadian Asset Management LLC acquired a new stake in TRI Pointe Group during the fourth quarter worth about $337,000. Finally, LS Investment Advisors LLC raised its stake in TRI Pointe Group by 65.5% during the fourth quarter. LS Investment Advisors LLC now owns 20,017 shares of the construction company’s stock worth $359,000 after acquiring an additional 7,923 shares during the period.
In other TRI Pointe Group news, CEO Douglas F. Bauer sold 75,000 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $18.04, for a total value of $1,353,000.00. Following the completion of the transaction, the chief executive officer now owns 289,313 shares in the company, valued at approximately $5,219,206.52. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Thomas J. Mitchell sold 150,822 shares of the company’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $18.83, for a total transaction of $2,839,978.26. Following the completion of the transaction, the insider now owns 274,312 shares of the company’s stock, valued at approximately $5,165,294.96. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.
TRI Pointe Group (NYSE:TPH) last posted its earnings results on Tuesday, February 20th. The construction company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.64 by $0.06. TRI Pointe Group had a net margin of 6.66% and a return on equity of 11.89%. The firm had revenue of $1.12 billion during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the firm earned $0.36 EPS. TRI Pointe Group’s quarterly revenue was up 45.7% on a year-over-year basis. equities analysts expect that TRI Pointe Group will post 1.8 earnings per share for the current year.
TRI Pointe Group declared that its board has approved a stock repurchase program on Tuesday, February 20th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the construction company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.
Several equities research analysts recently weighed in on TPH shares. Zacks Investment Research lowered shares of TRI Pointe Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. Wedbush increased their price objective on shares of TRI Pointe Group from $19.00 to $21.00 and gave the stock an “outperform” rating in a research note on Friday, December 29th. Barclays upgraded shares of TRI Pointe Group from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $17.00 to $21.00 in a research note on Friday, January 5th. Finally, ValuEngine upgraded shares of TRI Pointe Group from a “buy” rating to a “strong-buy” rating in a research note on Sunday, December 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. TRI Pointe Group presently has an average rating of “Buy” and a consensus price target of $18.88.
TRI Pointe Group Company Profile
TRI Pointe Group, Inc engages in the design, construction, and sale of single-family detached and attached homes in the United States. It operates a portfolio of six brands across eight states, including Maracay Homes in Arizona; Pardee Homes in California and Nevada; Quadrant Homes in Washington; Trendmaker Homes in Texas; TRI Pointe Homes in California and Colorado; and Winchester Homes in Maryland and Virginia.
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