New York State Teachers Retirement System Has $2.21 Million Position in LGI Homes, Inc. (NASDAQ:LGIH)

New York State Teachers Retirement System cut its position in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 0.5% during the third quarter, Holdings Channel reports. The institutional investor owned 18,629 shares of the financial services provider’s stock after selling 100 shares during the quarter. New York State Teachers Retirement System’s holdings in LGI Homes were worth $2,208,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LGIH. UniSuper Management Pty Ltd bought a new stake in shares of LGI Homes in the 1st quarter worth approximately $583,000. First Eagle Investment Management LLC lifted its position in LGI Homes by 27.0% in the first quarter. First Eagle Investment Management LLC now owns 86,415 shares of the financial services provider’s stock worth $10,056,000 after purchasing an additional 18,350 shares during the period. BNP Paribas Financial Markets boosted its stake in LGI Homes by 28.6% during the first quarter. BNP Paribas Financial Markets now owns 34,290 shares of the financial services provider’s stock worth $3,990,000 after buying an additional 7,616 shares in the last quarter. Denali Advisors LLC acquired a new stake in LGI Homes during the second quarter worth $993,000. Finally, Capital World Investors increased its holdings in LGI Homes by 6.2% in the 1st quarter. Capital World Investors now owns 846,202 shares of the financial services provider’s stock valued at $98,473,000 after buying an additional 49,640 shares during the period. 84.89% of the stock is currently owned by institutional investors.

LGI Homes Price Performance

Shares of LGIH stock opened at $109.67 on Friday. The stock’s fifty day simple moving average is $110.53 and its 200 day simple moving average is $102.61. LGI Homes, Inc. has a one year low of $84.00 and a one year high of $136.89. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 13.33 and a beta of 1.97. The company has a debt-to-equity ratio of 0.78, a current ratio of 12.63 and a quick ratio of 0.49.

LGI Homes (NASDAQ:LGIH) last issued its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 EPS for the quarter, beating the consensus estimate of $2.54 by $0.41. The company had revenue of $651.85 million for the quarter, compared to the consensus estimate of $645.27 million. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.84 EPS. On average, analysts expect that LGI Homes, Inc. will post 8.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Wedbush reiterated a “neutral” rating and set a $125.00 target price on shares of LGI Homes in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $126.00.

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.