Principal Financial Group Inc. Reduces Position in LGI Homes, Inc. (NASDAQ:LGIH)

Principal Financial Group Inc. trimmed its position in LGI Homes, Inc. (NASDAQ:LGIH) by 3.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 97,531 shares of the financial services provider’s stock after selling 3,699 shares during the period. Principal Financial Group Inc.’s holdings in LGI Homes were worth $11,559,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of 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 purchasing an additional 19,800 shares during the period. Dimensional Fund Advisors LP raised its position in 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 lifted its holdings in LGI Homes by 1.7% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 906,198 shares of the financial services provider’s stock worth $81,096,000 after buying an additional 15,340 shares during the period. Capital World Investors grew its position 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 worth $98,473,000 after buying an additional 49,640 shares during the last quarter. Finally, River Road Asset Management LLC increased its stake in shares of LGI Homes by 45.9% during 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 buying an additional 218,923 shares during the period. 84.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Wedbush reaffirmed a “neutral” rating and issued a $125.00 target price on shares of LGI Homes in a research report on Wednesday, November 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $126.00.

LGI Homes Stock Performance

Shares of LGI Homes stock opened at $104.20 on Monday. LGI Homes, Inc. has a 12 month low of $84.00 and a 12 month high of $136.89. The firm has a market capitalization of $2.45 billion, a P/E ratio of 12.49 and a beta of 1.97. 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 business has a fifty day simple moving average of $110.58 and a two-hundred day simple moving average of $103.24.

LGI Homes (NASDAQ:LGIH) last released its earnings results on Tuesday, November 5th. The financial services provider reported $2.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.54 by $0.41. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. The firm had revenue of $651.85 million during the quarter, compared to analyst estimates of $645.27 million. During the same period last year, the business earned $2.84 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis. On average, equities analysts forecast that LGI Homes, Inc. will post 8.72 earnings per share for the current fiscal year.

LGI Homes Company 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.