Truist Financial Corp Sells 53,812 Shares of Tri Pointe Homes Inc. $TPH

Truist Financial Corp lessened its holdings in shares of Tri Pointe Homes Inc. (NYSE:TPH) by 75.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,584 shares of the construction company’s stock after selling 53,812 shares during the period. Truist Financial Corp’s holdings in Tri Pointe Homes were worth $553,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Royal Bank of Canada raised its position in Tri Pointe Homes by 19.1% in the 1st quarter. Royal Bank of Canada now owns 72,740 shares of the construction company’s stock worth $2,322,000 after buying an additional 11,668 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Tri Pointe Homes by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 54,879 shares of the construction company’s stock valued at $1,752,000 after purchasing an additional 2,398 shares during the last quarter. Norges Bank purchased a new stake in shares of Tri Pointe Homes during the 2nd quarter valued at about $888,000. Invesco Ltd. increased its holdings in Tri Pointe Homes by 18.8% in the 2nd quarter. Invesco Ltd. now owns 585,484 shares of the construction company’s stock worth $18,706,000 after acquiring an additional 92,501 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Tri Pointe Homes by 104.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,157 shares of the construction company’s stock worth $69,000 after acquiring an additional 1,100 shares in the last quarter. Institutional investors own 97.01% of the company’s stock.

Insider Activity at Tri Pointe Homes

In other news, Director Steven J. Gilbert sold 50,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $46.33, for a total transaction of $2,316,500.00. Following the transaction, the director owned 30,330 shares in the company, valued at approximately $1,405,188.90. This trade represents a 62.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.20% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on TPH shares. Royal Bank Of Canada increased their target price on shares of Tri Pointe Homes from $31.00 to $47.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 17th. Weiss Ratings downgraded Tri Pointe Homes from a “hold (c)” rating to a “hold (c-)” rating in a research report on Friday, May 8th. Finally, Oppenheimer lowered Tri Pointe Homes from an “outperform” rating to a “market perform” rating in a report on Friday, February 13th. Three analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $42.50.

Tri Pointe Homes Stock Performance

TPH stock opened at $46.97 on Wednesday. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 1.37 and a beta of 1.16. The company has a quick ratio of 2.15, a current ratio of 2.15 and a debt-to-equity ratio of 0.33. Tri Pointe Homes Inc. has a twelve month low of $28.72 and a twelve month high of $46.99. The business’s fifty day simple moving average is $46.75 and its two-hundred day simple moving average is $39.45.

Tri Pointe Homes (NYSE:TPH) last announced its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.08 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.22). The firm had revenue of $507.90 million for the quarter, compared to analysts’ expectations of $495.67 million. Tri Pointe Homes had a net margin of 5.77% and a return on equity of 6.24%. The business’s quarterly revenue was down 29.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 EPS. Analysts predict that Tri Pointe Homes Inc. will post 2.64 earnings per share for the current year.

About Tri Pointe Homes

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.