Ensign Peak Advisors Inc Trims Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

Ensign Peak Advisors Inc trimmed its holdings in LGI Homes, Inc. (NASDAQ:LGIH – Get Rating) by 1.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 9,200 shares of the financial services provider’s stock after selling 110 shares during the quarter. Ensign Peak Advisors Inc’s holdings in LGI Homes were worth $749,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Eukles Asset Management boosted its position in LGI Homes by 6.7% during the third quarter. Eukles Asset Management now owns 2,109 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 132 shares in the last quarter. First National Bank of Omaha increased its position in shares of LGI Homes by 0.9% during the third quarter. First National Bank of Omaha now owns 14,645 shares of the financial services provider’s stock worth $1,192,000 after purchasing an additional 132 shares in the last quarter. Great West Life Assurance Co. Can lifted its stake in shares of LGI Homes by 0.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 18,571 shares of the financial services provider’s stock valued at $1,859,000 after purchasing an additional 151 shares during the last quarter. Guggenheim Capital LLC lifted its stake in shares of LGI Homes by 9.6% in the 1st quarter. Guggenheim Capital LLC now owns 2,085 shares of the financial services provider’s stock valued at $204,000 after purchasing an additional 183 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of LGI Homes by 20.9% in the 1st quarter. US Bancorp DE now owns 1,181 shares of the financial services provider’s stock valued at $114,000 after buying an additional 204 shares during the period. 87.44% of the stock is currently owned by institutional investors.

LGI Homes Stock Up 0.9 %

Shares of LGIH opened at $100.67 on Tuesday. The company has a market capitalization of $2.37 billion, a P/E ratio of 7.32 and a beta of 1.63. The company has a debt-to-equity ratio of 0.68, a current ratio of 8.17 and a quick ratio of 0.24. LGI Homes, Inc. has a one year low of $71.73 and a one year high of $126.60. The business’s 50 day simple moving average is $108.46 and its 200-day simple moving average is $96.90.

LGI Homes (NASDAQ:LGIH – Get Rating) last posted its quarterly earnings data on Tuesday, February 21st. The financial services provider reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.09. The firm had revenue of $488.26 million during the quarter, compared to analysts’ expectations of $530.69 million. LGI Homes had a net margin of 14.17% and a return on equity of 21.12%. LGI Homes’s revenue was down 39.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.53 EPS. As a group, sell-side analysts predict that LGI Homes, Inc. will post 7.66 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LGIH. JPMorgan Chase & Co. decreased their target price on LGI Homes from $84.00 to $79.00 and set an “underweight” rating for the company in a research report on Thursday, February 23rd. JMP Securities decreased their price objective on LGI Homes from $140.00 to $130.00 and set a “market perform” rating on the stock in a report on Tuesday, February 28th. Finally, BTIG Research cut LGI Homes from a “neutral” rating to a “sell” rating and set a $73.00 price objective on the stock. in a research note on Wednesday, February 22nd. Three analysts have rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $91.20.

Insider Buying and Selling at LGI Homes

In related news, Director Steven Randal Smith sold 991 shares of the company’s stock in a transaction on Thursday, December 22nd. The shares were sold at an average price of $95.27, for a total value of $94,412.57. Following the completion of the sale, the director now owns 1,490 shares in the company, valued at approximately $141,952.30. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, Director Steven Randal Smith sold 991 shares of the stock in a transaction dated Thursday, December 22nd. The shares were sold at an average price of $95.27, for a total transaction of $94,412.57. Following the completion of the transaction, the director now directly owns 1,490 shares in the company, valued at approximately $141,952.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, General Counsel Scott James Garber sold 4,876 shares of the stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $104.39, for a total transaction of $509,005.64. Following the transaction, the general counsel now owns 11,207 shares of the company’s stock, valued at $1,169,898.73. The disclosure for this sale can be found here. In the last 90 days, insiders sold 87,201 shares of company stock worth $9,093,874. Insiders own 12.50% of the company’s stock.

About LGI Homes

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LGI Homes, Inc engages in the design, construction, marketing, and sale of new homes. It focuses on the residential land development business. It operates through the following segments: Central, West, Southeast, Florida, Midwest, Mid-Atlantic, and Northwest. The company was founded by Eric Thomas Lipar in 2003 and is headquartered in The Woodlands, TX.