US Bancorp DE Raises Stock Position in LGI Homes, Inc. (NASDAQ:LGIH)

US Bancorp DE grew its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 42.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,772 shares of the financial services provider’s stock after purchasing an additional 1,115 shares during the period. US Bancorp DE’s holdings in LGI Homes were worth $251,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Dimensional Fund Advisors LP increased its stake in LGI Homes by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,504,384 shares of the financial services provider’s stock worth $134,491,000 after purchasing an additional 6,706 shares during the period. Khrom Capital Management LLC increased its stake in LGI Homes by 19.4% during the fourth quarter. Khrom Capital Management LLC now owns 1,095,801 shares of the financial services provider’s stock worth $97,965,000 after purchasing an additional 177,698 shares during the period. Northern Trust Corp increased its stake in LGI Homes by 11.5% during the fourth quarter. Northern Trust Corp now owns 219,547 shares of the financial services provider’s stock worth $19,628,000 after purchasing an additional 22,615 shares during the period. Tributary Capital Management LLC increased its stake in LGI Homes by 15.0% during the first quarter. Tributary Capital Management LLC now owns 215,556 shares of the financial services provider’s stock worth $14,328,000 after purchasing an additional 28,095 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in LGI Homes during the fourth quarter worth about $15,507,000. 84.89% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LGIH has been the topic of a number of recent research reports. JMP Securities cut their target price on shares of LGI Homes from $140.00 to $75.00 and set a “market outperform” rating on the stock in a research note on Thursday, August 7th. Wedbush restated a “neutral” rating and set a $93.00 target price on shares of LGI Homes in a research note on Monday, July 7th. JPMorgan Chase & Co. cut their target price on shares of LGI Homes from $52.00 to $47.00 and set an “underweight” rating on the stock in a research note on Wednesday, July 9th. Finally, Citigroup restated an “outperform” rating on shares of LGI Homes in a research note on Thursday, August 7th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, LGI Homes has an average rating of “Hold” and a consensus price target of $71.67.

LGI Homes Stock Down 2.7%

LGIH stock opened at $65.02 on Friday. The company’s 50 day moving average price is $54.08 and its 200 day moving average price is $62.21. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.64 and a current ratio of 18.18. LGI Homes, Inc. has a fifty-two week low of $47.17 and a fifty-two week high of $125.83. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 9.81 and a beta of 1.69.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.36 EPS for the quarter, beating the consensus estimate of $1.21 by $0.15. The company had revenue of $483.49 million for the quarter, compared to analyst estimates of $546.96 million. LGI Homes had a net margin of 7.63% and a return on equity of 8.00%. The firm’s revenue was down 19.8% on a year-over-year basis. During the same period in the prior year, the firm posted $2.48 earnings per share. On average, equities research analysts anticipate that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

LGI Homes Profile

LGI Homes, Inc designs, constructs, and sells homes. It offers entry-level homes, such as attached and detached homes, and active adult homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name. The company also engages in the wholesale business, which include building and selling homes to large institutions looking to acquire single-family rental properties.