Ensign Peak Advisors Inc Trims Stock Position in LGI Homes, Inc. $LGIH

Ensign Peak Advisors Inc decreased its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 13.6% during the second quarter, Holdings Channel reports. The institutional investor owned 7,653 shares of the financial services provider’s stock after selling 1,200 shares during the quarter. Ensign Peak Advisors Inc’s holdings in LGI Homes were worth $394,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LGIH. CDAM UK Ltd lifted its holdings in LGI Homes by 4.4% in the first quarter. CDAM UK Ltd now owns 766,210 shares of the financial services provider’s stock valued at $50,930,000 after acquiring an additional 32,267 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of LGI Homes by 5.0% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 395,810 shares of the financial services provider’s stock valued at $26,309,000 after purchasing an additional 19,017 shares during the period. Goldman Sachs Group Inc. boosted its holdings in LGI Homes by 5.3% during the first quarter. Goldman Sachs Group Inc. now owns 250,142 shares of the financial services provider’s stock worth $16,627,000 after buying an additional 12,524 shares in the last quarter. Bank of New York Mellon Corp grew its position in LGI Homes by 2.8% during the second quarter. Bank of New York Mellon Corp now owns 148,598 shares of the financial services provider’s stock valued at $7,656,000 after buying an additional 4,096 shares during the period. Finally, LGT Fund Management Co Ltd. increased its holdings in LGI Homes by 6.4% in the second quarter. LGT Fund Management Co Ltd. now owns 81,081 shares of the financial services provider’s stock valued at $4,177,000 after buying an additional 4,904 shares in the last quarter. 84.89% of the stock is owned by institutional investors and hedge funds.

LGI Homes Stock Down 0.8%

LGIH stock opened at $52.27 on Monday. The company has a current ratio of 18.18, a quick ratio of 0.64 and a debt-to-equity ratio of 0.85. The firm has a 50-day moving average of $47.76 and a two-hundred day moving average of $53.23. LGI Homes, Inc. has a 12 month low of $39.70 and a 12 month high of $112.97. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 7.88 and a beta of 1.75.

LGI Homes (NASDAQ:LGIH) last posted its quarterly earnings results on Tuesday, November 4th. The financial services provider reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.09). LGI Homes had a net margin of 7.63% and a return on equity of 8.00%. The company had revenue of $396.63 million during the quarter, compared to analysts’ expectations of $421.66 million. As a group, analysts forecast that LGI Homes, Inc. will post 8.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LGIH has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of LGI Homes from $47.00 to $48.50 and gave the stock an “underweight” rating in a research note on Tuesday, October 14th. JMP Securities upped their price target on LGI Homes from $75.00 to $85.00 and gave the stock a “market outperform” rating in a report on Wednesday, August 27th. Capital One Financial set a $60.00 price target on LGI Homes in a research report on Thursday, October 9th. Wedbush restated a “neutral” rating and issued a $95.00 price objective on shares of LGI Homes in a research report on Monday, October 6th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of LGI Homes in a research note on Monday, November 24th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $72.13.

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.