Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of TRI Pointe Group Inc (NYSE:TPH) by 22.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 7,649 shares of the construction company’s stock after selling 2,244 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in TRI Pointe Group were worth $97,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Quadrant Capital Group LLC increased its position in TRI Pointe Group by 438.9% in the first quarter. Quadrant Capital Group LLC now owns 4,979 shares of the construction company’s stock worth $61,000 after buying an additional 4,055 shares during the period. Bank of Montreal Can increased its holdings in shares of TRI Pointe Group by 6.7% during the first quarter. Bank of Montreal Can now owns 28,539 shares of the construction company’s stock valued at $360,000 after purchasing an additional 1,786 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of TRI Pointe Group by 354.4% during the first quarter. BNP Paribas Arbitrage SA now owns 35,079 shares of the construction company’s stock valued at $443,000 after purchasing an additional 27,359 shares during the period. Mercer Global Advisors Inc. ADV acquired a new position in shares of TRI Pointe Group during the first quarter valued at $168,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of TRI Pointe Group during the first quarter valued at $682,000.
A number of brokerages have recently commented on TPH. JMP Securities raised their price target on TRI Pointe Group from $14.00 to $15.00 and gave the company a “market outperform” rating in a report on Wednesday, February 27th. Wedbush reissued a “neutral” rating and set a $11.00 price target on shares of TRI Pointe Group in a report on Wednesday, February 27th. Zacks Investment Research raised TRI Pointe Group from a “sell” rating to a “hold” rating in a report on Saturday, February 2nd. Susquehanna Bancshares reissued a “neutral” rating and set a $14.00 price target (down from $16.00) on shares of TRI Pointe Group in a report on Wednesday, April 17th. Finally, Evercore ISI lowered TRI Pointe Group from an “in-line” rating to an “underperform” rating in a report on Thursday, February 28th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company. TRI Pointe Group presently has an average rating of “Hold” and an average target price of $15.38.
TRI Pointe Group (NYSE:TPH) last announced its earnings results on Thursday, April 25th. The construction company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.01. TRI Pointe Group had a return on equity of 11.87% and a net margin of 7.16%. The business had revenue of $492.70 million during the quarter, compared to analysts’ expectations of $467.11 million. During the same quarter last year, the business posted $0.28 earnings per share. The company’s quarterly revenue was down 15.4% on a year-over-year basis. On average, sell-side analysts anticipate that TRI Pointe Group Inc will post 1.27 earnings per share for the current year.
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About TRI Pointe Group
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 6 brands across 10 states, 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 Colorado; and Winchester Homes in Maryland and Virginia.
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