State of New Jersey Common Pension Fund D Acquires 10,987 Shares of LGI Homes, Inc. $LGIH

State of New Jersey Common Pension Fund D boosted its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 43.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,444 shares of the financial services provider’s stock after acquiring an additional 10,987 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.16% of LGI Homes worth $1,878,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in LGIH. Philadelphia Financial Management of San Francisco LLC bought a new position in LGI Homes in the 1st quarter worth about $5,123,000. Nuveen LLC bought a new position in LGI Homes in the 1st quarter worth about $4,313,000. Campbell & CO Investment Adviser LLC bought a new position in LGI Homes in the 1st quarter worth about $2,877,000. LPL Financial LLC increased its stake in LGI Homes by 352.4% in the 1st quarter. LPL Financial LLC now owns 51,565 shares of the financial services provider’s stock worth $3,428,000 after acquiring an additional 40,166 shares during the last quarter. Finally, CDAM UK Ltd increased its stake in LGI Homes by 4.4% in the 1st quarter. CDAM UK Ltd now owns 766,210 shares of the financial services provider’s stock worth $50,930,000 after acquiring an additional 32,267 shares during the last quarter. 84.89% of the stock is currently owned by institutional investors.

LGI Homes Price Performance

LGIH opened at $40.81 on Friday. The stock’s 50 day simple moving average is $53.45 and its 200 day simple moving average is $54.52. The company has a debt-to-equity ratio of 0.85, a current ratio of 18.18 and a quick ratio of 0.64. LGI Homes, Inc. has a 1 year low of $40.34 and a 1 year high of $114.56. The firm has a market cap of $940.96 million, a price-to-earnings ratio of 6.16 and a beta of 1.77.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.21 by $0.15. LGI Homes had a return on equity of 8.00% and a net margin of 7.63%.The business had revenue of $483.49 million for the quarter, compared to analyst estimates of $546.96 million. During the same period last year, the company earned $2.48 EPS. LGI Homes’s revenue for the quarter was down 19.8% compared to the same quarter last year. As a group, analysts predict that LGI Homes, Inc. will post 8.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LGIH. JMP Securities upped their target price on LGI Homes from $75.00 to $85.00 and gave the stock a “market outperform” rating in a research note on Wednesday, August 27th. Wedbush reiterated a “neutral” rating and set a $95.00 price objective on shares of LGI Homes in a research report on Monday, October 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of LGI Homes in a research report on Wednesday, October 8th. Capital One Financial set a $60.00 price objective on LGI Homes in a research report on Thursday, October 9th. Finally, Citigroup reiterated a “market outperform” rating on shares of LGI Homes in a research report on Wednesday, August 27th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $72.13.

About LGI Homes

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.