Northern Trust Corp Cuts Holdings in LGI Homes, Inc. $LGIH

Northern Trust Corp decreased its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 2.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,841 shares of the financial services provider’s stock after selling 4,706 shares during the quarter. Northern Trust Corp owned 0.92% of LGI Homes worth $14,280,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. boosted its stake in shares of LGI Homes by 8.8% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 3,023 shares of the financial services provider’s stock worth $201,000 after acquiring an additional 245 shares in the last quarter. Exencial Wealth Advisors LLC boosted its stake in shares of LGI Homes by 8.0% during the 1st quarter. Exencial Wealth Advisors LLC now owns 3,621 shares of the financial services provider’s stock worth $241,000 after acquiring an additional 269 shares in the last quarter. CWM LLC boosted its stake in shares of LGI Homes by 50.3% during the 1st quarter. CWM LLC now owns 1,178 shares of the financial services provider’s stock worth $78,000 after acquiring an additional 394 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of LGI Homes by 6.4% during the 1st quarter. Victory Capital Management Inc. now owns 7,534 shares of the financial services provider’s stock worth $501,000 after acquiring an additional 454 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of LGI Homes by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 11,881 shares of the financial services provider’s stock worth $1,062,000 after acquiring an additional 468 shares in the last quarter. Hedge funds and other institutional investors own 84.89% of the company’s stock.

Analyst Upgrades and Downgrades

LGIH has been the topic of several research analyst reports. Wedbush reissued a “neutral” rating and set a $93.00 price target on shares of LGI Homes in a research note on Monday, July 7th. Citigroup reissued a “market outperform” rating on shares of LGI Homes in a research note on Wednesday, August 27th. JMP Securities raised their price objective on shares of LGI Homes from $75.00 to $85.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 27th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of LGI Homes from $52.00 to $47.00 and set an “underweight” rating for the company in a research note on Wednesday, July 9th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $75.00.

LGI Homes Stock Performance

Shares of LGIH opened at $62.63 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.64 and a current ratio of 18.18. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 9.45 and a beta of 1.75. The company’s 50 day simple moving average is $57.92 and its 200 day simple moving average is $59.98. LGI Homes, Inc. has a 1 year low of $47.17 and a 1 year high of $125.83.

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

LGI Homes Company 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.