Northern Trust Corp Trims Holdings in LGI Homes, Inc. $LGIH

Key Points

• Northern Trust Corp reduced its holdings in LGI Homes, Inc. by 2.1%, bringing its total ownership to 214,841 shares valued at approximately $14.28 million as of the end of the first quarter.
• Several institutional investors have increased their stakes in LGI Homes, with notable increases from CWM LLC at 50.3% and Envestnet Portfolio Solutions at 8.8% during the same period.
• The company recently reported earnings of $1.36 EPS, which exceeded analyst expectations, although revenue decreased by 19.8% year-over-year.

Northern Trust Corp reduced its holdings in shares of LGI Homes, Inc. (NASDAQ:LGIH - Free Report) by 2.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 214,841 shares of the financial services provider's stock after selling 4,706 shares during the quarter. Northern Trust Corp owned 0.92% of LGI Homes worth $14,280,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of LGIH. Wealth Enhancement Advisory Services LLC grew its holdings in shares of LGI Homes by 213.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 10,234 shares of the financial services provider's stock worth $680,000 after purchasing an additional 6,970 shares during the last quarter. Invesco Ltd. boosted its position in shares of LGI Homes by 10.2% in the 1st quarter. Invesco Ltd. now owns 71,789 shares of the financial services provider's stock worth $4,772,000 after purchasing an additional 6,621 shares in the last quarter. GAMMA Investing LLC lifted its stake in LGI Homes by 219.1% in the first quarter. GAMMA Investing LLC now owns 887 shares of the financial services provider's stock worth $59,000 after purchasing an additional 609 shares during the last quarter. Nuveen LLC acquired a new position in LGI Homes during the first quarter valued at $4,313,000. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of LGI Homes by 22.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 3,406 shares of the financial services provider's stock worth $226,000 after acquiring an additional 623 shares during the last quarter. Hedge funds and other institutional investors own 84.89% of the company's stock.

LGI Homes Stock Performance

NASDAQ LGIH traded down $0.29 during trading hours on Monday, hitting $66.73. The company had a trading volume of 151,409 shares, compared to its average volume of 335,143. The business has a 50 day moving average of $58.53 and a 200-day moving average of $59.44. The company has a market cap of $1.54 billion, a PE ratio of 10.02 and a beta of 1.75. LGI Homes, Inc. has a 1-year low of $47.17 and a 1-year high of $125.83. The company has a debt-to-equity ratio of 0.85, a quick ratio of 0.64 and a current ratio of 18.18.

LGI Homes (NASDAQ:LGIH - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The financial services provider reported $1.36 EPS for the quarter, beating the consensus estimate of $1.21 by $0.15. LGI Homes had a net margin of 7.63% and a return on equity of 8.00%. The business had revenue of $483.49 million during the quarter, compared to analyst estimates of $546.96 million. During the same period in the previous year, the business posted $2.48 EPS. The company's quarterly revenue was down 19.8% on a year-over-year basis. As a group, equities research analysts expect that LGI Homes, Inc. will post 8.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LGIH. Citigroup reiterated a "market outperform" rating on shares of LGI Homes in a report on Wednesday, August 27th. JPMorgan Chase & Co. lowered their price target on LGI Homes from $52.00 to $47.00 and set an "underweight" rating on the stock in a report on Wednesday, July 9th. Wedbush reissued a "neutral" rating and set a $95.00 target price on shares of LGI Homes in a research note on Friday. Finally, JMP Securities upped their target price on LGI Homes from $75.00 to $85.00 and gave the stock a "market outperform" rating in a research report on Wednesday, August 27th. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $75.67.

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.