Summit Global Investments Has $1.49 Million Position in Tri Pointe Homes, Inc. (NYSE:TPH)

Summit Global Investments increased its holdings in shares of Tri Pointe Homes, Inc. (NYSE:TPH) by 24.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 41,976 shares of the construction company’s stock after purchasing an additional 8,313 shares during the period. Summit Global Investments’ holdings in Tri Pointe Homes were worth $1,486,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. acquired a new stake in Tri Pointe Homes in the 4th quarter worth $35,000. GAMMA Investing LLC bought a new stake in Tri Pointe Homes during the 4th quarter worth approximately $41,000. Nisa Investment Advisors LLC increased its holdings in Tri Pointe Homes by 105.7% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,362 shares of the construction company’s stock valued at $48,000 after purchasing an additional 700 shares in the last quarter. Blue Trust Inc. raised its position in Tri Pointe Homes by 73.8% in the 4th quarter. Blue Trust Inc. now owns 1,766 shares of the construction company’s stock valued at $63,000 after purchasing an additional 750 shares during the last quarter. Finally, Planned Solutions Inc. acquired a new stake in shares of Tri Pointe Homes in the fourth quarter valued at $113,000. Institutional investors own 97.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on TPH shares. Royal Bank of Canada upped their target price on shares of Tri Pointe Homes from $38.00 to $42.00 and gave the stock an “outperform” rating in a research report on Friday, April 26th. Oppenheimer increased their price objective on Tri Pointe Homes from $41.00 to $46.00 and gave the company an “outperform” rating in a research report on Friday, April 26th. Wedbush restated a “neutral” rating and set a $35.00 target price on shares of Tri Pointe Homes in a research report on Thursday, April 25th. Finally, StockNews.com upgraded Tri Pointe Homes from a “hold” rating to a “buy” rating in a report on Friday, April 26th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $40.60.

Insiders Place Their Bets

In other news, COO Thomas J. Mitchell sold 51,533 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was sold at an average price of $35.22, for a total value of $1,814,992.26. Following the completion of the sale, the chief operating officer now directly owns 785,543 shares of the company’s stock, valued at $27,666,824.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.00% of the company’s stock.

Tri Pointe Homes Stock Up 2.3 %

NYSE:TPH traded up $0.87 during trading hours on Friday, reaching $38.99. 845,901 shares of the stock were exchanged, compared to its average volume of 1,057,158. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.99 and a quick ratio of 1.99. Tri Pointe Homes, Inc. has a twelve month low of $24.18 and a twelve month high of $40.13. The stock has a market cap of $3.70 billion, a PE ratio of 10.40, a PEG ratio of 0.64 and a beta of 1.54. The firm has a 50 day moving average of $35.99 and a 200 day moving average of $33.23.

Tri Pointe Homes (NYSE:TPH) last released its earnings results on Thursday, April 25th. The construction company reported $1.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.34. Tri Pointe Homes had a return on equity of 12.39% and a net margin of 9.62%. The business had revenue of $918.40 million for the quarter, compared to the consensus estimate of $867.77 million. During the same quarter in the previous year, the business earned $0.73 earnings per share. Tri Pointe Homes’s quarterly revenue was up 19.5% on a year-over-year basis. On average, equities analysts expect that Tri Pointe Homes, Inc. will post 4.49 earnings per share for the current year.

Tri Pointe Homes Company Profile

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.