Private Asset Management Inc. bought a new stake in Lennar Co. (NYSE:LEN) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 5,000 shares of the construction company’s stock, valued at approximately $316,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. D.A. Davidson & CO. boosted its stake in shares of Lennar by 8.9% during the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock valued at $101,000 after purchasing an additional 155 shares during the period. Commonwealth Bank of Australia raised its holdings in shares of Lennar by 32.4% in the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock valued at $114,000 after acquiring an additional 530 shares in the last quarter. QS Investors LLC raised its holdings in shares of Lennar by 1.0% in the second 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 in the last quarter. Chartist Inc. CA bought a new stake in shares of Lennar in the second quarter valued at about $200,000. Finally, Fiera Capital Corp bought a new stake in shares of Lennar in the second quarter valued at about $224,000. 81.25% of the stock is owned by institutional investors.
Shares of Lennar Co. (LEN) traded down $0.31 during mid-day trading on Friday, hitting $69.26. The stock had a trading volume of 3,783,905 shares, compared to its average volume of 5,103,853. The stock has a market capitalization of $16,100.00, a price-to-earnings ratio of 19.96, a price-to-earnings-growth ratio of 1.35 and a beta of 1.35. Lennar Co. has a 1-year low of $43.46 and a 1-year high of $70.40. 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 issued its earnings results on Wednesday, January 10th. The construction company reported $1.29 EPS for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.21). The firm had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Lennar had a net margin of 7.47% and a return on equity of 13.30%. Lennar’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.34 EPS. equities analysts expect that Lennar Co. will post 4.04 earnings per share for the current year.
In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $64.02, for a total value of $1,280,400.00. Following the sale, the chief operating officer now owns 99,000 shares in the company, valued at approximately $6,337,980. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Bruce E. Gross sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 21st. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the completion of the sale, the chief financial officer now owns 371,043 shares in the company, valued at approximately $22,262,580. The disclosure for this sale can be found here. 12.18% of the stock is owned by corporate insiders.
Several analysts recently weighed in on the company. Royal Bank of Canada lifted their price objective on Lennar to $82.00 and gave the company an “outperform” rating in a report on Friday. Credit Suisse Group reiterated a “neutral” rating and issued a $65.00 target price (up from $57.00) on shares of Lennar in a report on Thursday. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $78.00 target price on shares of Lennar in a report on Thursday. Zacks Investment Research upgraded shares of Lennar from a “sell” rating to a “hold” rating in a report on Thursday, January 4th. Finally, Wedbush set a $60.00 target price on shares of Lennar and gave the stock a “hold” rating in a report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Lennar has a consensus rating of “Hold” and an average price target of $62.53.
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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