Prudential Financial Inc. Sells 32,229 Shares of Tri Pointe Homes, Inc. (NYSE:TPH)

Prudential Financial Inc. decreased its position in Tri Pointe Homes, Inc. (NYSE:TPH) by 7.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 383,072 shares of the construction company’s stock after selling 32,229 shares during the quarter. Prudential Financial Inc. owned 0.32% of Tri Pointe Homes worth $7,799,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its position in Tri Pointe Homes by 2.6% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 19,310 shares of the construction company’s stock worth $333,000 after buying an additional 490 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its position in Tri Pointe Homes by 2.6% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,881 shares of the construction company’s stock worth $446,000 after buying an additional 667 shares in the last quarter. KCS Wealth Advisory lifted its position in Tri Pointe Homes by 1.1% during the 1st quarter. KCS Wealth Advisory now owns 61,385 shares of the construction company’s stock worth $1,250,000 after buying an additional 668 shares in the last quarter. State of Tennessee Treasury Department lifted its position in Tri Pointe Homes by 1.6% during the 1st quarter. State of Tennessee Treasury Department now owns 45,886 shares of the construction company’s stock worth $934,000 after buying an additional 716 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Tri Pointe Homes by 7.0% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 11,180 shares of the construction company’s stock valued at $228,000 after purchasing an additional 728 shares during the period. 99.26% of the stock is currently owned by institutional investors and hedge funds.

TPH has been the topic of a number of research reports. Wolfe Research initiated coverage on shares of Tri Pointe Homes in a research report on Tuesday, March 16th. They set a “peer perform” rating on the stock. B. Riley upped their target price on shares of Tri Pointe Homes from $27.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, April 23rd. Wells Fargo & Company initiated coverage on shares of Tri Pointe Homes in a research report on Wednesday, April 21st. They set an “equal weight” rating and a $23.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Tri Pointe Homes from a “buy” rating to a “hold” rating in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Tri Pointe Homes presently has an average rating of “Buy” and a consensus target price of $24.83.

Shares of NYSE:TPH opened at $21.26 on Friday. The company has a 50 day moving average price of $23.29. Tri Pointe Homes, Inc. has a fifty-two week low of $12.83 and a fifty-two week high of $26.35. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 0.60. The firm has a market cap of $2.52 billion, a P/E ratio of 8.34 and a beta of 1.50.

Tri Pointe Homes (NYSE:TPH) last posted its earnings results on Thursday, April 22nd. The construction company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.12. Tri Pointe Homes had a return on equity of 15.07% and a net margin of 9.51%. The business had revenue of $716.70 million during the quarter, compared to analysts’ expectations of $736.24 million. During the same period in the prior year, the business earned $0.24 EPS. Tri Pointe Homes’s revenue for the quarter was up 20.5% compared to the same quarter last year. On average, equities analysts anticipate that Tri Pointe Homes, Inc. will post 3.14 earnings per share for the current year.

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 brands, including 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, Virginia, and the District of Columbia.

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Institutional Ownership by Quarter for Tri Pointe Homes (NYSE:TPH)

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