Tredje AP fonden decreased its stake in shares of Lennar Corporation (NYSE:LEN) by 19.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,654 shares of the construction company’s stock after selling 8,740 shares during the quarter. Tredje AP fonden’s holdings in Lennar were worth $1,883,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Alps Advisors Inc. increased its stake in Lennar by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 9,280 shares of the construction company’s stock valued at $495,000 after purchasing an additional 24 shares in the last quarter. QS Investors LLC boosted its holdings in shares of Lennar by 1.0% in the 2nd quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock valued at $135,000 after acquiring an additional 25 shares during the last quarter. Riverhead Capital Management LLC boosted its holdings in shares of Lennar by 0.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 8,326 shares of the construction company’s stock valued at $444,000 after acquiring an additional 36 shares during the last quarter. MAI Capital Management boosted its holdings in shares of Lennar by 1.3% in the 2nd quarter. MAI Capital Management now owns 4,707 shares of the construction company’s stock valued at $251,000 after acquiring an additional 60 shares during the last quarter. Finally, Strs Ohio boosted its holdings in shares of Lennar by 0.4% in the 2nd quarter. Strs Ohio now owns 18,136 shares of the construction company’s stock valued at $967,000 after acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds own 81.34% of the company’s stock.
In related news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction on Tuesday, November 21st. The shares were sold at an average price of $60.00, for a total transaction of $300,000.00. Following the sale, the chief financial officer now directly owns 371,043 shares of the company’s stock, valued at $22,262,580. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 12.18% of the company’s stock.
LEN has been the topic of several recent research reports. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Lennar in a report on Monday, September 25th. MKM Partners raised shares of Lennar from a “neutral” rating to a “buy” rating and set a $64.00 price objective on the stock in a report on Wednesday, October 4th. Zacks Investment Research raised shares of Lennar from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Friday, September 15th. Bank of America upped their price objective on shares of Lennar from $63.00 to $65.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. Finally, BTIG Research upped their price objective on shares of Lennar from $62.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, October 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. Lennar presently has a consensus rating of “Hold” and an average price target of $57.93.
Shares of Lennar Corporation (NYSE LEN) traded down $1.12 during midday trading on Thursday, reaching $60.91. 3,864,600 shares of the company were exchanged, compared to its average volume of 2,460,521. Lennar Corporation has a 12-month low of $42.23 and a 12-month high of $63.94. The stock has a market capitalization of $14,593.18, a P/E ratio of 15.90, a PEG ratio of 1.26 and a beta of 1.35. The company has a debt-to-equity ratio of 0.72, a current ratio of 7.76 and a quick ratio of 0.59.
Lennar (NYSE:LEN) last announced its quarterly earnings results on Tuesday, October 3rd. The construction company reported $1.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.01 by $0.05. Lennar had a net margin of 6.65% and a return on equity of 12.37%. The firm had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $3.25 billion. During the same period in the prior year, the firm posted $1.01 earnings per share. The firm’s quarterly revenue was up 15.1% compared to the same quarter last year. equities analysts predict that Lennar Corporation will post 4.04 earnings per share for the current fiscal year.
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Lennar Company 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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