Wedge Capital Management L L P NC Acquires New Stake in Tri Pointe Homes Inc. $TPH

Wedge Capital Management L L P NC acquired a new stake in Tri Pointe Homes Inc. (NYSE:TPH) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 41,141 shares of the construction company’s stock, valued at approximately $1,398,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of TPH. Voya Investment Management LLC lifted its position in shares of Tri Pointe Homes by 24.0% during the third quarter. Voya Investment Management LLC now owns 316,987 shares of the construction company’s stock worth $10,768,000 after purchasing an additional 61,373 shares during the last quarter. GAMMA Investing LLC increased its stake in Tri Pointe Homes by 29.0% in the 3rd quarter. GAMMA Investing LLC now owns 3,067 shares of the construction company’s stock worth $104,000 after buying an additional 690 shares during the period. Corient Private Wealth LLC purchased a new position in Tri Pointe Homes in the 2nd quarter worth about $202,000. Texas Permanent School Fund Corp lifted its holdings in Tri Pointe Homes by 6.9% during the 2nd quarter. Texas Permanent School Fund Corp now owns 54,380 shares of the construction company’s stock valued at $1,737,000 after buying an additional 3,505 shares in the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in Tri Pointe Homes in the 2nd quarter valued at about $6,063,000. Hedge funds and other institutional investors own 97.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on TPH. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Tri Pointe Homes in a research report on Thursday, October 30th. Evercore ISI reiterated an “in-line” rating and issued a $34.00 price target (down previously from $38.00) on shares of Tri Pointe Homes in a report on Tuesday, October 7th. Finally, Wall Street Zen upgraded Tri Pointe Homes from a “sell” rating to a “hold” rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $39.25.

Tri Pointe Homes Trading Down 0.7%

NYSE:TPH opened at $31.70 on Wednesday. Tri Pointe Homes Inc. has a one year low of $27.90 and a one year high of $38.96. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.01 and a current ratio of 2.01. The firm has a market cap of $2.72 billion, a P/E ratio of 9.35, a P/E/G ratio of 0.83 and a beta of 1.33. The firm has a 50-day simple moving average of $32.54 and a 200-day simple moving average of $33.08.

Tri Pointe Homes (NYSE:TPH) last released its quarterly earnings data on Thursday, October 23rd. The construction company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.20. The firm had revenue of $836.87 million for the quarter, compared to the consensus estimate of $782.22 million. Tri Pointe Homes had a net margin of 8.44% and a return on equity of 9.79%. The company’s quarterly revenue was down 26.6% on a year-over-year basis. During the same period last year, the firm earned $1.18 earnings per share. Equities analysts anticipate that Tri Pointe Homes Inc. will post 3.58 EPS for the current fiscal year.

Tri Pointe Homes Profile

Tri Pointe Homes, Inc (NYSE: TPH) is a national homebuilder engaged in the acquisition, development, construction, marketing and sale of single-family detached homes and attached products. The company’s operations span a range of new residential communities, offering customizable floor plans in both tract and luxury segments. Its integrated business model encompasses land sourcing, entitlement, design, construction oversight and in-house customer care and warranty service.

Founded in 2009 through the combination of three regional builders, Tri Pointe Homes has grown into a prominent player across key western U.S.