Vanguard Group Inc. reduced its holdings in Tri Pointe Homes, Inc. (NYSE:TPH – Free Report) by 5.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,648,885 shares of the construction company after selling 687,000 shares during the period. Vanguard Group Inc. owned 12.28% of Tri Pointe Homes worth $450,346,000, according to its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also bought and sold shares of the company recently. Mitsubishi UFJ Trust & Banking Corp increased its shares in Tri Pointe Homes by 1.5% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 25,094 shares of the construction company’s stock worth $959,000 after purchasing an additional 376 shares in the last quarter. Forge First Asset Management Inc. purchased a new stake in Tri Pointe Homes in the first quarter worth approximately $3,156,000. State Board of Administration of Florida Retirement System increased its shares in Tri Pointe Homes by 64.7% in the first quarter. State Board of Administration of Florida Retirement System now owns 83,261 shares of the construction company’s stock worth $3,219,000 after purchasing an additional 32,717 shares in the last quarter. ProShare Advisors LLC increased its shares in Tri Pointe Homes by 7.4% in the first quarter. ProShare Advisors LLC now owns 19,415 shares of the construction company’s stock worth $751,000 after buying an additional 1,338 shares in the last quarter. Finally, Inspire Advisors LLC increased its shares in Tri Pointe Homes by 71.4% in the first quarter. Inspire Advisors LLC now owns 13,541 shares of the construction company’s stock worth $523,000 after buying an additional 5,639 shares in the last quarter. 97.01% of the shares are held by hedge funds and other institutional investors.

Tri Pointe Homes inventory rises 1.8%

TPH opened Friday at $46.12. The stock has a market cap of $4.38 billion, a price/earnings ratio of 12.30, a price/earnings growth ratio of 0.79 and a beta of 1.59. Tri Pointe Homes, Inc. has a one-year low of $24.18 and a one-year high of $47.78. The company’s 50-day simple moving average is $39.15 and its 200-day simple moving average is $37.13. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.99 and a current ratio of 1.29.

Tri Pointe Homes (NYSE:TPH – Get Free Report) last released its quarterly earnings results on Thursday, July 25. The construction company reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.09 by $0.16. The company had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Tri Pointe Homes had a return on equity of 14.03% and a net margin of 10.28%. The company’s revenue for the quarter increased by 38.3% year-over-year. In the prior-year quarter, the company posted $0.60 EPS. Analysts expect Tri Pointe Homes, Inc. to post 4.66 EPS for the current year.

Insider Activity at Tri Pointe Homes

In related news, CEO Douglas F. Bauer sold 56,567 shares of the company’s stock in a transaction dated Thursday, May 9. The shares were sold at an average price of $39.78, for a total value of $2,250,235.26. Following the transaction, the CEO now owns 677,816 shares in the company, valued at approximately $26,963,520.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed via this hyperlink. 2.00% of the shares are currently held by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Wedbush affirmed a “neutral” rating and set a $42.00 price target on shares of Tri Pointe Homes in a report on Thursday. StockNews.com raised Tri Pointe Homes from a “hold” rating to a “buy” rating in a research report on Friday, April 26th. Oppenheimer increased their price target on Tri Pointe Homes from $46.00 to $54.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Royal Bank of Canada increased their price target on Tri Pointe Homes from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Friday. One research analyst has rated the stock with a hold rating and four have issued a buy rating on the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $45.50.

Read our latest research report on TPH

About Tri Pointe Homes

(Free Report)

Tri Pointe Homes, Inc. designs, builds and sells single-family detached and attached homes throughout the United States. The company operates through a portfolio of six regional homebuilding 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 and Northern Virginia.

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