Public Sector Pension Investment Board Cuts Position in LGI Homes, Inc. (NASDAQ:LGIH)

Public Sector Pension Investment Board trimmed its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 2.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,847 shares of the financial services provider’s stock after selling 1,300 shares during the quarter. Public Sector Pension Investment Board’s holdings in LGI Homes were worth $5,197,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of LGI Homes by 3.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,506,611 shares of the financial services provider’s stock valued at $134,827,000 after purchasing an additional 53,031 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its position in LGI Homes by 1.7% in the second quarter. Disciplined Growth Investors Inc. MN now owns 906,198 shares of the financial services provider’s stock worth $81,096,000 after acquiring an additional 15,340 shares during the period. River Road Asset Management LLC boosted its stake in LGI Homes by 45.9% in the third quarter. River Road Asset Management LLC now owns 695,455 shares of the financial services provider’s stock valued at $82,425,000 after acquiring an additional 218,923 shares during the last quarter. Altshuler Shaham Ltd grew its position in shares of LGI Homes by 5,860.2% during the 2nd quarter. Altshuler Shaham Ltd now owns 454,760 shares of the financial services provider’s stock valued at $40,696,000 after acquiring an additional 447,130 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of LGI Homes by 7.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 349,141 shares of the financial services provider’s stock worth $41,380,000 after purchasing an additional 24,555 shares during the last quarter. 84.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued a “neutral” rating and set a $125.00 price objective on shares of LGI Homes in a report on Wednesday, November 6th.

LGI Homes Price Performance

LGIH opened at $109.49 on Monday. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 13.13 and a beta of 1.97. 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 50-day moving average price of $109.10 and a 200-day moving average price of $103.77. LGI Homes, Inc. has a twelve month low of $84.00 and a twelve month high of $136.89.

LGI Homes (NASDAQ:LGIH) last announced its quarterly earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share for the quarter, beating the consensus estimate of $2.54 by $0.41. The company had revenue of $651.85 million during the quarter, compared to analysts’ expectations of $645.27 million. LGI Homes had a return on equity of 10.32% and a net margin of 8.75%. The firm’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.84 earnings per share. Equities analysts expect that LGI Homes, Inc. will post 8.72 EPS for the current year.

About LGI Homes

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.