Principal Financial Group Inc. Raises Stock Position in Green Brick Partners, Inc. (NASDAQ:GRBK)

Principal Financial Group Inc. raised its position in Green Brick Partners, Inc. (NASDAQ:GRBK) by 15.3% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 158,760 shares of the financial services provider’s stock after acquiring an additional 21,012 shares during the period. Principal Financial Group Inc.’s holdings in Green Brick Partners were worth $13,260,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Blue Trust Inc. purchased a new position in Green Brick Partners in the second quarter worth approximately $48,000. nVerses Capital LLC lifted its stake in shares of Green Brick Partners by 1,000.0% in the 2nd quarter. nVerses Capital LLC now owns 2,200 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 2,000 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Green Brick Partners by 20.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 305 shares during the period. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Green Brick Partners during the 3rd quarter worth about $209,000. Finally, Commonwealth Equity Services LLC raised its holdings in Green Brick Partners by 32.6% in the 2nd quarter. Commonwealth Equity Services LLC now owns 4,416 shares of the financial services provider’s stock valued at $253,000 after buying an additional 1,085 shares during the period. Hedge funds and other institutional investors own 78.24% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on GRBK. Wedbush reaffirmed a “neutral” rating and set a $60.00 target price (up previously from $53.00) on shares of Green Brick Partners in a research note on Monday, August 5th. B. Riley increased their price objective on shares of Green Brick Partners from $62.00 to $78.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd.

Green Brick Partners Price Performance

GRBK opened at $69.45 on Friday. The stock’s 50-day moving average price is $77.13 and its 200 day moving average price is $68.16. Green Brick Partners, Inc. has a 12-month low of $46.61 and a 12-month high of $84.66. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 9.02 and a beta of 1.83. The company has a current ratio of 7.57, a quick ratio of 0.63 and a debt-to-equity ratio of 0.20.

Green Brick Partners (NASDAQ:GRBK) last issued its quarterly earnings results on Wednesday, October 30th. The financial services provider reported $1.98 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.07 by ($0.09). Green Brick Partners had a return on equity of 25.35% and a net margin of 17.70%. The business had revenue of $523.70 million for the quarter, compared to analysts’ expectations of $539.86 million. During the same quarter last year, the company earned $1.56 earnings per share. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, sell-side analysts expect that Green Brick Partners, Inc. will post 8.24 earnings per share for the current year.

About Green Brick Partners

Green Brick Partners, Inc is a diversified homebuilding and land development company in the United States. The company operates through three segments: Builder operations Central, Builder operations Southeast, and Land Development. The Builder operations Central segment operates builders in Texas; and the closing and delivery of homes.