LGI Homes, Inc. (NASDAQ:LGIH) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 3.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 100,409 shares of the financial services provider’s stock after buying an additional 2,878 shares during the period. Principal Financial Group Inc. owned approximately 0.43% of LGI Homes worth $8,977,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in LGIH. Blue Trust Inc. increased its holdings in shares of LGI Homes by 112.9% during the 4th quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock worth $31,000 after buying an additional 184 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of LGI Homes during the 3rd quarter worth approximately $43,000. KBC Group NV increased its holdings in shares of LGI Homes by 29.8% during the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock worth $87,000 after buying an additional 168 shares during the last quarter. HighTower Advisors LLC acquired a new stake in LGI Homes in the 3rd quarter valued at approximately $229,000. Finally, Meitav Investment House Ltd. acquired a new stake in LGI Homes in the 3rd quarter valued at approximately $235,000. Institutional investors and hedge funds own 84.89% of the company’s stock.

LGI Homes Stock Performance

Shares of LGIH stock opened at $73.43 on Friday. The company has a quick ratio of 0.54, a current ratio of 12.72 and a debt-to-equity ratio of 0.77. LGI Homes, Inc. has a 52 week low of $71.70 and a 52 week high of $125.83. The stock has a market capitalization of $1.73 billion, a PE ratio of 8.80 and a beta of 2.03. The firm has a 50 day moving average of $86.83 and a two-hundred day moving average of $100.60.

LGI Homes (NASDAQ:LGIH) last issued its quarterly earnings results on Tuesday, February 25th. The financial services provider reported $2.15 EPS for the quarter, missing the consensus estimate of $2.31 by ($0.16). LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The business had revenue of $557.40 million during the quarter, compared to analysts’ expectations of $588.56 million. During the same period in the prior year, the business earned $2.19 EPS. The business’s quarterly revenue was down 8.4% on a year-over-year basis. On average, research analysts predict that LGI Homes, Inc. will post 8.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $160.00 target price on shares of LGI Homes in a report on Friday, January 10th. Wedbush reiterated a “neutral” rating and issued a $115.00 target price (down previously from $125.00) on shares of LGI Homes in a report on Tuesday, January 7th. Seaport Res Ptn upgraded shares of LGI Homes from a “strong sell” rating to a “hold” rating in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. dropped their target price on shares of LGI Homes from $82.00 to $80.00 and set an “underweight” rating for the company in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, LGI Homes currently has a consensus rating of “Hold” and a consensus price target of $118.33.

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.