Schwab Charles Investment Management Inc. Buys 5,528 Shares of LGI Homes Inc (LGIH)

Schwab Charles Investment Management Inc. raised its stake in shares of LGI Homes Inc (NASDAQ:LGIH) by 6.9% during the third quarter, HoldingsChannel reports. The firm owned 85,807 shares of the financial services provider’s stock after buying an additional 5,528 shares during the period. Schwab Charles Investment Management Inc.’s holdings in LGI Homes were worth $4,168,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in LGI Homes by 3.9% during the second quarter. BlackRock Inc. now owns 2,493,251 shares of the financial services provider’s stock valued at $100,180,000 after purchasing an additional 92,633 shares in the last quarter. FMR LLC acquired a new stake in LGI Homes during the second quarter valued at approximately $21,233,000. New York State Common Retirement Fund boosted its holdings in LGI Homes by 20.0% during the second quarter. New York State Common Retirement Fund now owns 47,686 shares of the financial services provider’s stock valued at $1,916,000 after purchasing an additional 7,952 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in LGI Homes by 34.0% during the second quarter. Bank of New York Mellon Corp now owns 274,296 shares of the financial services provider’s stock valued at $11,021,000 after purchasing an additional 69,653 shares in the last quarter. Finally, Scout Investments Inc. boosted its holdings in LGI Homes by 15.7% during the third quarter. Scout Investments Inc. now owns 48,575 shares of the financial services provider’s stock valued at $2,359,000 after purchasing an additional 6,600 shares in the last quarter. 91.80% of the stock is currently owned by institutional investors.

LGI Homes Inc (NASDAQ:LGIH) opened at $76.82 on Friday. LGI Homes Inc has a one year low of $26.82 and a one year high of $79.55. The company has a quick ratio of 0.86, a current ratio of 8.91 and a debt-to-equity ratio of 1.04. The stock has a market cap of $1,660.00, a P/E ratio of 17.82, a PEG ratio of 1.26 and a beta of 0.27.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, November 7th. The financial services provider reported $1.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.10. LGI Homes had a net margin of 9.21% and a return on equity of 31.68%. The company had revenue of $365.90 million during the quarter, compared to analysts’ expectations of $355.81 million. During the same quarter in the previous year, the company posted $0.86 earnings per share. LGI Homes’s quarterly revenue was up 69.2% compared to the same quarter last year. sell-side analysts forecast that LGI Homes Inc will post 4.6 EPS for the current fiscal year.

In other news, insider Michael Larry Snider sold 20,000 shares of LGI Homes stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $62.75, for a total value of $1,255,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Bryan Christopher Sansbury sold 23,101 shares of LGI Homes stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $63.28, for a total transaction of $1,461,831.28. The disclosure for this sale can be found here. Insiders sold 68,101 shares of company stock valued at $4,073,581 in the last quarter. 13.60% of the stock is currently owned by corporate insiders.

A number of equities research analysts have weighed in on LGIH shares. Wedbush reaffirmed an “outperform” rating on shares of LGI Homes in a report on Saturday, September 16th. ValuEngine raised LGI Homes from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 30th. Zacks Investment Research raised LGI Homes from a “hold” rating to a “strong-buy” rating and set a $61.00 price objective on the stock in a report on Wednesday, October 11th. JMP Securities lifted their price objective on LGI Homes from $62.00 to $68.00 and gave the company a “market outperform” rating in a report on Wednesday, November 8th. Finally, TheStreet raised LGI Homes from a “c+” rating to a “b-” rating in a report on Monday, November 13th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. LGI Homes has an average rating of “Buy” and an average price target of $59.33.

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LGI Homes Company Profile

LGI Homes, Inc is a homebuilder and land developer. The Company is engaged in the design, construction, marketing and sale of new homes in markets in Texas, Arizona, Florida, Georgia, New Mexico, South Carolina, North Carolina, Colorado, Washington and Tennessee. The Company operates through five segments: the Texas division, the Southwest division, the Southeast division, the Florida division and the Northwest division.

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Institutional Ownership by Quarter for LGI Homes (NASDAQ:LGIH)

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