HAP Trading LLC reduced its position in shares of Lennar Corporation (NYSE:LEN) by 90.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,799 shares of the construction company’s stock after selling 637,101 shares during the period. HAP Trading LLC’s holdings in Lennar Corporation were worth $3,562,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Bank of Australia increased its position in Lennar Corporation by 32.4% during the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after purchasing an additional 530 shares during the last quarter. Washington Trust Bank increased its position in Lennar Corporation by 47.6% during the second quarter. Washington Trust Bank now owns 2,462 shares of the construction company’s stock worth $131,000 after purchasing an additional 794 shares during the last quarter. MUFG Americas Holdings Corp increased its position in Lennar Corporation by 7.3% during the second quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock worth $173,000 after purchasing an additional 220 shares during the last quarter. Pacer Advisors Inc. increased its position in Lennar Corporation by 27.0% during the first quarter. Pacer Advisors Inc. now owns 4,038 shares of the construction company’s stock worth $207,000 after purchasing an additional 859 shares during the last quarter. Finally, Regentatlantic Capital LLC acquired a new stake in Lennar Corporation during the second quarter worth about $207,000. Hedge funds and other institutional investors own 81.09% of the company’s stock.
In related news, COO Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $53.17, for a total transaction of $1,063,400.00. Following the completion of the sale, the chief operating officer now owns 139,433 shares of the company’s stock, valued at approximately $7,413,652.61. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.18% of the stock is currently owned by corporate insiders.
Several equities research analysts recently issued reports on LEN shares. Zacks Investment Research upgraded shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Friday, June 16th. Royal Bank Of Canada raised their price objective on shares of Lennar Corporation from $61.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, July 13th. BidaskClub upgraded shares of Lennar Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Credit Suisse Group started coverage on shares of Lennar Corporation in a research report on Thursday, June 22nd. They set a “neutral” rating and a $55.00 price objective for the company. Finally, Wedbush restated a “neutral” rating and set a $46.00 price objective on shares of Lennar Corporation in a research report on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $56.41.
Shares of Lennar Corporation (NYSE:LEN) traded up 0.77% on Tuesday, hitting $52.14. 293,543 shares of the company were exchanged. The firm has a market cap of $12.23 billion, a P/E ratio of 15.24 and a beta of 1.24. Lennar Corporation has a 52-week low of $39.68 and a 52-week high of $55.75. The company has a 50-day moving average price of $52.46 and a 200 day moving average price of $51.92.
Lennar Corporation (NYSE:LEN) last posted its earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.13. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.90 billion. Lennar Corporation had a net margin of 6.78% and a return on equity of 12.57%. The company’s revenue was up 18.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 EPS. Analysts predict that Lennar Corporation will post $3.82 EPS for the current fiscal year.
Lennar Corporation Profile
Lennar Corporation is a provider of real estate related financial services, commercial real estate, investment management and finance company. The Company is a homebuilder that operates in various states. Its segments include Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto and Lennar Multifamily.
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