US Bancorp DE Reduces Stock Holdings in LGI Homes, Inc. (NASDAQ:LGIH)

US Bancorp DE lowered its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,657 shares of the financial services provider’s stock after selling 200 shares during the period. US Bancorp DE’s holdings in LGI Homes were worth $238,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Blue Trust Inc. increased its stake in 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 period. KBC Group NV grew its stake in shares of LGI Homes by 29.8% during the third quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock valued at $87,000 after acquiring an additional 168 shares in the last quarter. HighTower Advisors LLC purchased a new stake in shares of LGI Homes during the third quarter worth about $229,000. Paloma Partners Management Co acquired a new position in shares of LGI Homes in the third quarter worth about $238,000. Finally, XTX Topco Ltd purchased a new position in LGI Homes in the third quarter valued at about $288,000. 84.89% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, COO Michael Larry Snider sold 1,105 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $75.94, for a total transaction of $83,913.70. Following the completion of the transaction, the chief operating officer now directly owns 27,102 shares of the company’s stock, valued at approximately $2,058,125.88. This represents a 3.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 12.40% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on LGIH. Seaport Res Ptn upgraded LGI Homes from a “strong sell” rating to a “hold” rating in a report on Monday, January 27th. Wedbush restated a “neutral” rating and issued a $115.00 target price (down previously from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price target 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. Finally, JMP Securities reissued a “market outperform” rating and issued a $160.00 price objective on shares of LGI Homes in a report on Friday, January 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $118.33.

LGI Homes Stock Up 1.8 %

Shares of LGI Homes stock opened at $71.86 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. The firm has a market cap of $1.68 billion, a P/E ratio of 8.62 and a beta of 2.13. LGI Homes, Inc. has a fifty-two week low of $68.66 and a fifty-two week high of $125.83. The business has a 50-day moving average price of $83.50 and a 200 day moving average price of $98.44.

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

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.