Arizona State Retirement System raised its position in TRI Pointe Group Inc (NYSE:TPH) by 26.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 108,274 shares of the construction company’s stock after acquiring an additional 22,449 shares during the quarter. Arizona State Retirement System’s holdings in TRI Pointe Group were worth $1,940,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new position in shares of TRI Pointe Group during the third quarter valued at about $197,000. California Public Employees Retirement System increased its position in shares of TRI Pointe Group by 140.0% during the third quarter. California Public Employees Retirement System now owns 24,000 shares of the construction company’s stock valued at $331,000 after buying an additional 14,000 shares during the period. Acadian Asset Management LLC purchased a new position in shares of TRI Pointe Group during the fourth quarter valued at about $337,000. Crossmark Global Holdings Inc. purchased a new position in shares of TRI Pointe Group during the third quarter valued at about $340,000. Finally, LS Investment Advisors LLC increased its position in shares of TRI Pointe Group by 65.5% during the fourth quarter. LS Investment Advisors LLC now owns 20,017 shares of the construction company’s stock valued at $359,000 after buying an additional 7,923 shares during the period.
In related news, CEO Douglas F. Bauer sold 75,000 shares of the business’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $18.04, for a total transaction of $1,353,000.00. Following the sale, the chief executive officer now owns 289,313 shares of the company’s stock, valued at $5,219,206.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Thomas J. Mitchell sold 150,822 shares of the business’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $18.83, for a total transaction of $2,839,978.26. Following the sale, the insider now directly owns 274,312 shares in the company, valued at approximately $5,165,294.96. The disclosure for this sale can be found here. Insiders own 2.20% of the company’s stock.
TRI Pointe Group (NYSE:TPH) last posted its quarterly earnings data on Tuesday, February 20th. The construction company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.64 by $0.06. TRI Pointe Group had a net margin of 6.66% and a return on equity of 11.89%. The business had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. TRI Pointe Group’s quarterly revenue was up 45.7% on a year-over-year basis. analysts expect that TRI Pointe Group Inc will post 1.8 EPS for the current fiscal year.
TRI Pointe Group announced that its board has approved a stock repurchase program on Tuesday, February 20th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the construction company to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its stock is undervalued.
Several equities analysts recently issued reports on the stock. ValuEngine upgraded shares of TRI Pointe Group from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Wedbush reiterated an “outperform” rating and set a $21.00 price target on shares of TRI Pointe Group in a research report on Wednesday, February 21st. Zacks Investment Research cut shares of TRI Pointe Group from a “buy” rating to a “hold” rating and set a $20.00 price target on the stock. in a research report on Friday, January 5th. Finally, Barclays upgraded shares of TRI Pointe Group from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $17.00 to $21.00 in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. TRI Pointe Group presently has a consensus rating of “Buy” and a consensus price target of $18.88.
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TRI Pointe Group Company Profile
TRI Pointe Group, Inc is a homebuilder company. The Company’s operations are organized in two principal businesses, including homebuilding and financial services. Its homebuilding operation consists of six segments: Maracay Homes, including operations in Arizona; Pardee Homes, consisting of operations in California and Nevada; Quadrant Homes, consisting of operations in Washington; Trendmaker Homes, consisting of operations in Texas; TRI Pointe Homes, consisting of operations in California and Colorado, and Winchester Homes, consisting of operations in Maryland and Virginia.
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