Wells Fargo & Company MN cut its position in shares of LGI Homes Inc (NASDAQ:LGIH) by 25.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 42,931 shares of the financial services provider’s stock after selling 14,595 shares during the quarter. Wells Fargo & Company MN owned about 0.20% of LGI Homes worth $3,222,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of LGIH. BNP Paribas Arbitrage SA increased its position in shares of LGI Homes by 71.9% during the third quarter. BNP Paribas Arbitrage SA now owns 8,713 shares of the financial services provider’s stock worth $423,000 after buying an additional 3,644 shares during the period. Rhumbline Advisers grew its holdings in LGI Homes by 2.9% in the third quarter. Rhumbline Advisers now owns 33,813 shares of the financial services provider’s stock worth $1,642,000 after purchasing an additional 960 shares during the period. Bank of New York Mellon Corp grew its holdings in LGI Homes by 4.2% in the third quarter. Bank of New York Mellon Corp now owns 285,778 shares of the financial services provider’s stock worth $13,880,000 after purchasing an additional 11,482 shares during the period. SG Americas Securities LLC acquired a new stake in LGI Homes in the third quarter worth $199,000. Finally, Schwab Charles Investment Management Inc. grew its holdings in LGI Homes by 6.9% in the third quarter. Schwab Charles Investment Management Inc. now owns 85,807 shares of the financial services provider’s stock worth $4,168,000 after purchasing an additional 5,528 shares during the period. Institutional investors own 84.84% of the company’s stock.
A number of equities research analysts have commented on LGIH shares. Wedbush upgraded shares of LGI Homes from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $59.51 to $73.00 in a report on Tuesday, February 13th. BidaskClub upgraded shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a report on Friday, March 23rd. Zacks Investment Research upgraded shares of LGI Homes from a “hold” rating to a “strong-buy” rating and set a $91.00 price target for the company in a report on Thursday, January 4th. Finally, ValuEngine upgraded shares of LGI Homes from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Three research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $61.50.
NASDAQ:LGIH opened at $73.21 on Monday. The firm has a market capitalization of $1,634.93, a price-to-earnings ratio of 15.48, a P/E/G ratio of 1.09 and a beta of 0.13. LGI Homes Inc has a 12 month low of $28.57 and a 12 month high of $79.55. The company has a quick ratio of 1.16, a current ratio of 9.16 and a debt-to-equity ratio of 0.97.
LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings data on Tuesday, February 27th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.03. The firm had revenue of $405.00 million during the quarter, compared to analysts’ expectations of $377.46 million. LGI Homes had a net margin of 9.01% and a return on equity of 26.41%. The business’s revenue was up 71.0% on a year-over-year basis. During the same period last year, the company earned $1.01 earnings per share. research analysts anticipate that LGI Homes Inc will post 6.11 EPS for the current year.
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LGI Homes Profile
LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.
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