LGI Homes, Inc. (NASDAQ:LGIH) Position Increased by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. raised its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 8.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,136 shares of the financial services provider’s stock after buying an additional 402 shares during the period. PNC Financial Services Group Inc.’s holdings in LGI Homes were worth $459,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. KBC Group NV boosted its holdings in 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 buying an additional 168 shares in the last quarter. Blue Trust Inc. boosted its stake in LGI Homes by 112.9% in the 4th quarter. Blue Trust Inc. now owns 347 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 184 shares during the period. Stifel Financial Corp boosted its stake in LGI Homes by 5.7% in the 3rd quarter. Stifel Financial Corp now owns 3,883 shares of the financial services provider’s stock worth $460,000 after purchasing an additional 211 shares during the period. Illinois Municipal Retirement Fund boosted its stake in LGI Homes by 5.7% in the 4th quarter. Illinois Municipal Retirement Fund now owns 11,655 shares of the financial services provider’s stock worth $1,042,000 after purchasing an additional 629 shares during the period. Finally, Algert Global LLC boosted its stake in LGI Homes by 12.6% in the 3rd quarter. Algert Global LLC now owns 8,339 shares of the financial services provider’s stock worth $988,000 after purchasing an additional 930 shares during the period. 84.89% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

LGIH has been the subject of a number of recent analyst reports. Seaport Res Ptn raised shares of LGI Homes from a “strong sell” rating to a “hold” rating in a research note on Monday, January 27th. Wedbush reaffirmed a “neutral” rating and issued a $115.00 price objective (down previously from $125.00) on shares of LGI Homes in a research note on Tuesday, January 7th. JPMorgan Chase & Co. decreased their price objective on shares of 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 reaffirmed a “market outperform” rating and issued a $160.00 price objective on shares of LGI Homes in a research note on Friday, January 10th. Two 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $118.33.

LGI Homes Stock Up 0.7 %

LGIH stock opened at $72.85 on Thursday. LGI Homes, Inc. has a 12-month low of $68.66 and a 12-month high of $125.83. 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 company has a market cap of $1.70 billion, a price-to-earnings ratio of 8.74 and a beta of 2.13. The company has a 50 day moving average of $82.42 and a two-hundred day moving average of $97.35.

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

Insiders Place Their Bets

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

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.