State of New Jersey Common Pension Fund D Increases Stake in LGI Homes, Inc. (NASDAQ:LGIH)

State of New Jersey Common Pension Fund D raised its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 16.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 20,751 shares of the financial services provider’s stock after buying an additional 2,923 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.09% of LGI Homes worth $1,855,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Rhumbline Advisers grew its stake in LGI Homes by 3.9% during the 4th quarter. Rhumbline Advisers now owns 64,833 shares of the financial services provider’s stock worth $5,796,000 after purchasing an additional 2,460 shares in the last quarter. KBC Group NV increased its stake in shares of LGI Homes by 51.6% during the fourth quarter. KBC Group NV now owns 1,110 shares of the financial services provider’s stock worth $99,000 after buying an additional 378 shares during the period. Blue Trust Inc. raised its holdings in LGI Homes by 112.9% in the fourth quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 184 shares in the last quarter. Inspire Investing LLC lifted its stake in LGI Homes by 28.8% in the fourth quarter. Inspire Investing LLC now owns 4,493 shares of the financial services provider’s stock worth $402,000 after acquiring an additional 1,005 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in LGI Homes by 19.8% during the 4th quarter. Harbor Capital Advisors Inc. now owns 8,212 shares of the financial services provider’s stock worth $734,000 after acquiring an additional 1,357 shares in the last quarter. Institutional investors and hedge funds own 84.89% of the company’s stock.

Analyst Ratings Changes

LGIH has been the subject of several recent analyst reports. Seaport Res Ptn raised shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research report on Monday, January 27th. JMP Securities reaffirmed a “market outperform” rating and set a $160.00 price target on shares of LGI Homes in a report on Friday, January 10th. Wedbush reiterated a “neutral” rating and issued a $115.00 price objective (down previously from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. decreased their target price on LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a research note on Tuesday, January 14th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $118.33.

LGI Homes Stock Performance

NASDAQ LGIH opened at $75.99 on Tuesday. The company has a fifty day moving average of $87.89 and a two-hundred day moving average of $101.12. The company has a market capitalization of $1.79 billion, a PE ratio of 9.11 and a beta of 2.03. LGI Homes, Inc. has a 1 year low of $75.91 and a 1 year high of $125.83. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54.

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.