Commerzbank Aktiengesellschaft FI purchased a new position in shares of Lennar Co. (NYSE:LEN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,176 shares of the construction company’s stock, valued at approximately $432,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. D.A. Davidson & CO. increased its position in Lennar by 8.9% in the 2nd quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock valued at $101,000 after acquiring an additional 155 shares during the period. Commonwealth Bank of Australia boosted its stake in shares of Lennar by 32.4% during the 2nd quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after acquiring an additional 530 shares in the last quarter. QS Investors LLC lifted its stake in 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 buying an additional 25 shares in the last quarter. MUFG Americas Holdings Corp lifted its stake in Lennar by 7.3% in the 2nd quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock valued at $173,000 after buying an additional 220 shares in the last quarter. Finally, Chartist Inc. CA purchased a new stake in Lennar in the 2nd quarter valued at approximately $200,000. 81.34% of the stock is owned by institutional investors.
In other news, CFO Bruce E. Gross sold 5,000 shares of the company’s stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $60.00, for a total transaction of $300,000.00. Following the completion of the sale, the chief financial officer now directly owns 371,043 shares in the company, valued at approximately $22,262,580. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 12.18% of the company’s stock.
A number of equities research analysts recently issued reports on LEN shares. Zacks Investment Research lowered Lennar from a “buy” rating to a “hold” rating in a research note on Monday, September 18th. JMP Securities raised Lennar from a “market perform” rating to an “outperform” rating in a research note on Monday, November 6th. MKM Partners reaffirmed a “neutral” rating on shares of Lennar in a research note on Tuesday, September 5th. Mizuho reaffirmed a “hold” rating and issued a $53.00 target price on shares of Lennar in a research note on Friday, October 27th. Finally, BTIG Research upped their target price on Lennar from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Wednesday, October 4th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $57.93.
Shares of Lennar Co. (NYSE:LEN) traded up $0.47 during trading on Monday, hitting $62.18. The company’s stock had a trading volume of 2,041,000 shares, compared to its average volume of 2,457,978. The stock has a market cap of $14,628.47, a price-to-earnings ratio of 15.94, a PEG ratio of 1.26 and a beta of 1.35. The company has a current ratio of 7.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.72. Lennar Co. has a one year low of $42.23 and a one year high of $63.94.
Lennar (NYSE:LEN) last released its quarterly earnings data on Tuesday, October 3rd. The construction company reported $1.06 EPS for the quarter, topping analysts’ consensus estimates of $1.01 by $0.05. The business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $3.25 billion. Lennar had a return on equity of 12.37% and a net margin of 6.65%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 EPS. analysts forecast that Lennar Co. will post 4.04 EPS for the current fiscal year.
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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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