Jennison Associates LLC Acquires 29,253 Shares of TRI Pointe Group Inc (NYSE:TPH)

Jennison Associates LLC lifted its holdings in TRI Pointe Group Inc (NYSE:TPH) by 57.2% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 80,373 shares of the construction company’s stock after acquiring an additional 29,253 shares during the quarter. Jennison Associates LLC’s holdings in TRI Pointe Group were worth $1,016,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in TRI Pointe Group during the 4th quarter valued at about $17,789,000. LSV Asset Management grew its position in TRI Pointe Group by 119.6% during the 4th quarter. LSV Asset Management now owns 1,254,400 shares of the construction company’s stock valued at $13,710,000 after purchasing an additional 683,100 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in TRI Pointe Group by 928.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 618,889 shares of the construction company’s stock valued at $57,000 after purchasing an additional 558,711 shares during the last quarter. Canada Pension Plan Investment Board grew its position in TRI Pointe Group by 64.7% during the 4th quarter. Canada Pension Plan Investment Board now owns 766,500 shares of the construction company’s stock valued at $8,377,000 after purchasing an additional 301,000 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in TRI Pointe Group during the 4th quarter valued at about $2,858,000.

TPH opened at $12.65 on Thursday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.69. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of 6.66, a P/E/G ratio of 0.99 and a beta of 1.33. TRI Pointe Group Inc has a 52-week low of $10.37 and a 52-week high of $18.25.

TRI Pointe Group (NYSE:TPH) last released its earnings results on Thursday, April 25th. The construction company reported $0.03 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The company had revenue of $492.70 million during the quarter, compared to analyst estimates of $467.11 million. TRI Pointe Group had a net margin of 7.16% and a return on equity of 11.87%. The firm’s quarterly revenue was down 15.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.28 EPS. As a group, analysts expect that TRI Pointe Group Inc will post 1.27 EPS for the current year.

Several analysts recently commented on the stock. JMP Securities increased their price objective on shares of TRI Pointe Group from $14.00 to $15.00 and gave the company a “market outperform” rating in a research report on Wednesday, February 27th. Wedbush reissued a “neutral” rating and set a $11.00 price objective on shares of TRI Pointe Group in a research report on Wednesday, February 27th. Susquehanna Bancshares reissued a “neutral” rating and set a $14.00 price objective (down from $16.00) on shares of TRI Pointe Group in a research report on Wednesday, April 17th. Zacks Investment Research raised shares of TRI Pointe Group from a “strong sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Evercore ISI downgraded shares of TRI Pointe Group from an “in-line” rating to an “underperform” rating in a research report on Thursday, February 28th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. TRI Pointe Group currently has a consensus rating of “Hold” and a consensus price target of $15.38.

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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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Institutional Ownership by Quarter for TRI Pointe Group (NYSE:TPH)

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