LGI Homes Inc (LGIH) Shares Bought by Prudential Financial Inc.

Prudential Financial Inc. increased its stake in LGI Homes Inc (NASDAQ:LGIH) by 108.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 172,462 shares of the financial services provider’s stock after purchasing an additional 89,902 shares during the quarter. Prudential Financial Inc. owned 0.76% of LGI Homes worth $8,181,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. United Services Automobile Association increased its holdings in shares of LGI Homes by 26.4% in the 2nd quarter. United Services Automobile Association now owns 4,741 shares of the financial services provider’s stock valued at $274,000 after purchasing an additional 989 shares in the last quarter. Brookstone Capital Management increased its holdings in shares of LGI Homes by 40.3% in the 3rd quarter. Brookstone Capital Management now owns 5,080 shares of the financial services provider’s stock valued at $241,000 after purchasing an additional 1,458 shares in the last quarter. Montgomery Investment Management Inc. increased its holdings in shares of LGI Homes by 1.8% in the 2nd quarter. Montgomery Investment Management Inc. now owns 86,380 shares of the financial services provider’s stock valued at $4,987,000 after purchasing an additional 1,500 shares in the last quarter. Rhumbline Advisers increased its holdings in shares of LGI Homes by 4.5% in the 2nd quarter. Rhumbline Advisers now owns 43,142 shares of the financial services provider’s stock valued at $2,491,000 after purchasing an additional 1,847 shares in the last quarter. Finally, Swiss National Bank increased its holdings in shares of LGI Homes by 6.3% in the 2nd quarter. Swiss National Bank now owns 33,881 shares of the financial services provider’s stock valued at $1,956,000 after purchasing an additional 2,000 shares in the last quarter. Institutional investors and hedge funds own 88.77% of the company’s stock.

Several research firms have weighed in on LGIH. ValuEngine upgraded shares of LGI Homes from a “sell” rating to a “hold” rating in a report on Thursday, August 9th. Zacks Investment Research upgraded shares of LGI Homes from a “sell” rating to a “hold” rating and set a $66.00 target price for the company in a report on Friday, August 10th. BidaskClub upgraded shares of LGI Homes from a “strong sell” rating to a “sell” rating in a report on Friday, August 10th. JPMorgan Chase & Co. upgraded shares of LGI Homes from a “neutral” rating to an “overweight” rating and dropped their target price for the company from $69.00 to $58.50 in a report on Friday, September 21st. Finally, Wedbush set a $55.00 target price on shares of LGI Homes and gave the company a “hold” rating in a report on Thursday, October 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $56.70.

In other LGI Homes news, Director Ryan Edone bought 1,000 shares of the company’s stock in a transaction on Tuesday, November 13th. The stock was purchased at an average cost of $41.12 per share, for a total transaction of $41,120.00. Following the acquisition, the director now owns 23,982 shares of the company’s stock, valued at approximately $986,139.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 13.60% of the company’s stock.

NASDAQ:LGIH opened at $44.12 on Friday. The company has a quick ratio of 1.21, a current ratio of 13.89 and a debt-to-equity ratio of 1.02. LGI Homes Inc has a twelve month low of $37.16 and a twelve month high of $81.88. The stock has a market cap of $931.17 million, a price-to-earnings ratio of 9.33, a price-to-earnings-growth ratio of 0.60 and a beta of 0.26.

LGI Homes (NASDAQ:LGIH) last posted its earnings results on Tuesday, November 6th. The financial services provider reported $1.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.49 by $0.03. LGI Homes had a net margin of 9.99% and a return on equity of 27.08%. The firm had revenue of $380.37 million during the quarter, compared to the consensus estimate of $378.96 million. During the same period last year, the firm posted $1.40 EPS. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, research analysts forecast that LGI Homes Inc will post 6.17 EPS for the current year.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by Community Financial News and is owned by of Community Financial News. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this news story can be viewed at https://www.com-unik.info/2018/12/07/lgi-homes-inc-lgih-shares-bought-by-prudential-financial-inc.html.

About LGI Homes

LGI Homes, Inc engages in the design, construction, and sale of new homes in Texas, Arizona, Florida, Georgia, New Mexico, Colorado, North Carolina, South Carolina, Washington, Tennessee, Minnesota, Oklahoma, Alabama, California, Oregon, and Nevada. It offers entry-level homes, such as detached and townhomes, as well as move-up homes under the LGI Homes brand name; and luxury series homes under the Terrata Homes brand name.

Featured Article: What is a Leveraged Buyout (LBO)?

Want to see what other hedge funds are holding LGIH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LGI Homes Inc (NASDAQ:LGIH).

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

Receive News & Ratings for LGI Homes Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LGI Homes and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit