Toronto Dominion Bank boosted its position in shares of Lennar Co. (NYSE:LEN) by 14.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,013 shares of the construction company’s stock after purchasing an additional 10,940 shares during the period. Toronto Dominion Bank’s holdings in Lennar were worth $5,566,000 at the end of the most recent quarter.
Several other institutional investors also recently added to or reduced their stakes in LEN. QS Investors LLC grew 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 purchasing an additional 25 shares in the last quarter. Macquarie Group Ltd. grew its holdings in Lennar by 3.7% during the 2nd quarter. Macquarie Group Ltd. now owns 5,590 shares of the construction company’s stock worth $298,000 after acquiring an additional 200 shares in the last quarter. Janus Henderson Group PLC grew its holdings in Lennar by 55.3% during the 2nd quarter. Janus Henderson Group PLC now owns 44,156 shares of the construction company’s stock worth $2,355,000 after acquiring an additional 15,731 shares in the last quarter. Achmea Investment Management B.V. acquired a new position in Lennar during the 2nd quarter worth approximately $314,000. Finally, Shell Asset Management Co. grew its holdings in Lennar by 111.4% during the 3rd quarter. Shell Asset Management Co. now owns 29,223 shares of the construction company’s stock worth $1,135,000 after acquiring an additional 15,398 shares in the last quarter. 88.76% of the stock is currently owned by institutional investors and hedge funds.
LEN has been the subject of several analyst reports. Wedbush boosted their price target on shares of Lennar from $54.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, December 29th. Zacks Investment Research upgraded shares of Lennar from a “hold” rating to a “buy” rating and set a $78.00 price target for the company in a report on Tuesday, January 16th. ValuEngine cut shares of Lennar from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $78.00 target price on shares of Lennar in a report on Thursday, January 11th. Finally, Evercore ISI upgraded shares of Lennar from an “in-line” rating to an “outperform” rating in a report on Friday, February 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $67.93.
In related news, General Counsel Mark Sustana sold 125,000 shares of the stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $69.55, for a total value of $8,693,750.00. Following the sale, the general counsel now directly owns 65,720 shares of the company’s stock, valued at approximately $4,570,826. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $64.02, for a total transaction of $1,280,400.00. Following the completion of the sale, the chief operating officer now directly owns 99,000 shares in the company, valued at $6,337,980. The disclosure for this sale can be found here. Insiders sold a total of 175,000 shares of company stock valued at $12,092,050 in the last quarter. Insiders own 8.50% of the company’s stock.
Shares of Lennar Co. (LEN) traded down $0.66 during trading on Wednesday, reaching $59.90. 3,360,000 shares of the company’s stock were exchanged, compared to its average volume of 5,900,000. The stock has a market cap of $13,940.00, a P/E ratio of 17.88, a P/E/G ratio of 0.62 and a beta of 1.31. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.67 and a current ratio of 8.42. Lennar Co. has a 52 week low of $48.54 and a 52 week high of $72.17.
Lennar (NYSE:LEN) last announced its quarterly earnings results on Wednesday, January 10th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.50 by ($0.21). The company had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.59 billion. Lennar had a net margin of 6.41% and a return on equity of 12.00%. The business’s revenue for the quarter was up 12.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.34 EPS. equities analysts anticipate that Lennar Co. will post 5.29 EPS for the current 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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