Texas Permanent School Fund Corp Purchases 707 Shares of LGI Homes, Inc. (NASDAQ:LGIH)

Texas Permanent School Fund Corp grew its holdings in LGI Homes, Inc. (NASDAQ:LGIH) by 3.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 18,649 shares of the financial services provider’s stock after acquiring an additional 707 shares during the quarter. Texas Permanent School Fund Corp owned 0.08% of LGI Homes worth $1,669,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in LGI Homes by 0.9% during the first quarter. Vanguard Group Inc. now owns 2,220,411 shares of the financial services provider’s stock worth $258,389,000 after acquiring an additional 19,800 shares in the last quarter. Wasatch Advisors LP raised its position in shares of LGI Homes by 9.9% during the 1st quarter. Wasatch Advisors LP now owns 1,460,245 shares of the financial services provider’s stock valued at $169,929,000 after acquiring an additional 131,467 shares during the last quarter. Capital World Investors increased its stake in shares of 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 acquiring an additional 49,640 shares during the last quarter. CDAM UK Ltd raised its holdings in LGI Homes by 14.7% in the fourth quarter. CDAM UK Ltd now owns 674,960 shares of the financial services provider’s stock worth $89,878,000 after purchasing an additional 86,265 shares during the period. Finally, Tributary Capital Management LLC grew its stake in LGI Homes by 25.0% in the second quarter. Tributary Capital Management LLC now owns 187,442 shares of the financial services provider’s stock valued at $16,774,000 after acquiring an additional 37,497 shares during the period. 84.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LGIH. Wedbush upgraded LGI Homes from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $97.00 to $125.00 in a report on Monday, September 9th. JPMorgan Chase & Co. decreased their price objective on shares of LGI Homes from $95.00 to $93.00 and set an “underweight” rating on the stock in a report on Wednesday, July 10th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $126.00.

LGI Homes Stock Down 0.6 %

NASDAQ LGIH opened at $120.53 on Thursday. The business has a fifty day moving average price of $106.06 and a two-hundred day moving average price of $101.50. The stock has a market capitalization of $2.84 billion, a PE ratio of 15.07 and a beta of 1.95. LGI Homes, Inc. has a fifty-two week low of $84.00 and a fifty-two week high of $136.89. 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 announced its quarterly earnings results on Tuesday, July 30th. The financial services provider reported $2.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.24 by $0.24. LGI Homes had a net margin of 8.78% and a return on equity of 10.45%. The company had revenue of $602.50 million for the quarter, compared to analyst estimates of $617.44 million. During the same period in the previous year, the firm posted $2.25 EPS. The firm’s revenue was down 6.6% on a year-over-year basis. Equities analysts expect that LGI Homes, Inc. will post 9.01 earnings per share for the current fiscal 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.