Pitcairn Co. Trims Stock Position in LGI Homes, Inc. (NASDAQ:LGIH)

Pitcairn Co. trimmed its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH) by 7.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,815 shares of the financial services provider’s stock after selling 300 shares during the period. Pitcairn Co.’s holdings in LGI Homes were worth $452,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. First Horizon Advisors Inc. increased its position in LGI Homes by 32.5% during the second quarter. First Horizon Advisors Inc. now owns 440 shares of the financial services provider’s stock worth $39,000 after buying an additional 108 shares in the last quarter. Innealta Capital LLC purchased a new stake in LGI Homes during the 2nd quarter worth about $39,000. Allspring Global Investments Holdings LLC purchased a new position in LGI Homes in the 3rd quarter valued at about $43,000. KBC Group NV boosted its stake in shares of LGI Homes by 29.8% during the 3rd quarter. KBC Group NV now owns 732 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 168 shares during the last quarter. Finally, CWM LLC grew its holdings 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 worth $103,000 after buying an additional 187 shares in the last quarter. 84.89% of the stock is currently owned by institutional investors and hedge funds.

LGI Homes Stock Down 1.9 %

LGIH opened at $109.10 on Wednesday. LGI Homes, Inc. has a 12 month low of $84.00 and a 12 month high of $136.89. The business has a 50-day moving average of $110.00 and a two-hundred day moving average of $103.53. The company has a debt-to-equity ratio of 0.77, a current ratio of 12.72 and a quick ratio of 0.54. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 12.92 and a beta of 1.97.

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 analysts’ consensus estimates of $2.54 by $0.41. The firm had revenue of $651.85 million during the quarter, compared to the consensus estimate of $645.27 million. LGI Homes had a net margin of 8.75% and a return on equity of 10.32%. LGI Homes’s revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.84 earnings per share. On average, research analysts expect that LGI Homes, Inc. will post 8.72 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Wedbush reissued a “neutral” rating and set a $125.00 price objective on shares of LGI Homes in a research note on Wednesday, November 6th.

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.