US Bancorp DE decreased its stake in LGI Homes Inc (NASDAQ:LGIH) by 21.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,665 shares of the financial services provider’s stock after selling 1,291 shares during the quarter. US Bancorp DE’s holdings in LGI Homes were worth $329,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D lifted its stake in shares of LGI Homes by 4.4% in the first quarter. State of New Jersey Common Pension Fund D now owns 235,000 shares of the financial services provider’s stock worth $16,584,000 after buying an additional 10,000 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of LGI Homes by 11.9% in the first quarter. Thrivent Financial for Lutherans now owns 12,014 shares of the financial services provider’s stock worth $848,000 after buying an additional 1,282 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of LGI Homes by 6.5% in the first quarter. Schwab Charles Investment Management Inc. now owns 91,534 shares of the financial services provider’s stock worth $6,460,000 after buying an additional 5,593 shares in the last quarter. Great Lakes Advisors LLC lifted its stake in shares of LGI Homes by 38.0% in the first quarter. Great Lakes Advisors LLC now owns 186,180 shares of the financial services provider’s stock worth $13,139,000 after buying an additional 51,238 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new position in shares of LGI Homes in the first quarter worth about $11,066,000. Institutional investors and hedge funds own 90.07% of the company’s stock.
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LGI Homes opened at $62.28 on Friday, MarketBeat Ratings reports. The company has a current ratio of 14.21, a quick ratio of 1.24 and a debt-to-equity ratio of 1.10. The stock has a market capitalization of $1.35 billion, a PE ratio of 13.17, a price-to-earnings-growth ratio of 0.84 and a beta of 0.08. LGI Homes Inc has a twelve month low of $34.44 and a twelve month high of $81.88.
LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, May 8th. The financial services provider reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.33. LGI Homes had a net margin of 9.38% and a return on equity of 27.68%. The company had revenue of $279.00 million for the quarter, compared to the consensus estimate of $271.68 million. During the same period in the previous year, the firm earned $0.52 earnings per share. LGI Homes’s quarterly revenue was up 71.3% compared to the same quarter last year. research analysts anticipate that LGI Homes Inc will post 6.45 earnings per share for the current year.
In other LGI Homes news, CEO Eric Thomas Lipar sold 25,000 shares of LGI Homes stock in a transaction dated Friday, April 6th. The shares were sold at an average price of $73.29, for a total transaction of $1,832,250.00. Following the transaction, the chief executive officer now directly owns 522,020 shares of the company’s stock, valued at $38,258,845.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Charles Michael Merdian sold 16,967 shares of LGI Homes stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $63.80, for a total transaction of $1,082,494.60. Following the transaction, the chief financial officer now directly owns 100,497 shares in the company, valued at $6,411,708.60. The disclosure for this sale can be found here. Insiders have sold 114,432 shares of company stock worth $7,538,012 over the last ninety days. 13.60% of the stock is owned by insiders.
Several equities analysts have recently weighed in on LGIH shares. BidaskClub downgraded shares of LGI Homes from a “buy” rating to a “hold” rating in a research note on Friday, April 13th. Wedbush reissued a “neutral” rating and issued a $73.00 price target on shares of LGI Homes in a research note on Wednesday, May 9th. Finally, Zacks Investment Research downgraded shares of LGI Homes from a “buy” rating to a “hold” rating in a research note on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $67.20.
LGI Homes Company Profile
LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington, Tennessee, and Minnesota markets. It offers entry-level homes, such as detached and townhomes, as well as move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.
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