State Street Corp Has $128.78 Million Stock Position in LGI Homes, Inc. (NASDAQ:LGIH)

State Street Corp lessened its stake in LGI Homes, Inc. (NASDAQ:LGIH) by 6.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,086,598 shares of the financial services provider’s stock after selling 75,760 shares during the quarter. State Street Corp owned about 4.62% of LGI Homes worth $128,784,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of LGI Homes during the second quarter valued at approximately $39,000. First Horizon Advisors Inc. boosted its position in LGI Homes by 32.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock valued at $39,000 after buying an additional 108 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in shares of LGI Homes in the 3rd quarter valued at $43,000. KBC Group NV raised its position 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 worth $87,000 after acquiring an additional 168 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of LGI Homes by 27.5% during the third quarter. CWM LLC now owns 867 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 187 shares during the period. 84.89% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on LGIH shares. Wedbush reiterated a “neutral” rating and issued a $125.00 price objective on shares of LGI Homes in a research report on Wednesday, November 6th. JPMorgan Chase & Co. dropped their price target on shares of LGI Homes from $100.00 to $82.00 and set an “underweight” rating for the company in a research note on Friday.

LGI Homes Trading Down 2.5 %

NASDAQ LGIH opened at $99.85 on Friday. LGI Homes, Inc. has a 12 month low of $84.00 and a 12 month high of $136.89. The stock has a 50-day simple moving average of $107.15 and a 200 day simple moving average of $104.21. The company has a current ratio of 12.72, a quick ratio of 0.54 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $2.35 billion, a PE ratio of 11.97 and a beta of 1.99.

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

LGI Homes 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.