Cornerstone Capital Management Holdings LLC. lifted its position in shares of Lennar Co. (NYSE:LEN) by 165.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 92,856 shares of the construction company’s stock after buying an additional 57,907 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Lennar were worth $5,872,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Raymond James & Associates raised its holdings in shares of Lennar by 21.6% during the 4th quarter. Raymond James & Associates now owns 97,704 shares of the construction company’s stock valued at $6,179,000 after buying an additional 17,341 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of Lennar by 3,433.9% during the 4th quarter. Two Sigma Investments LP now owns 223,370 shares of the construction company’s stock valued at $14,126,000 after buying an additional 230,070 shares in the last quarter. Two Sigma Advisers LP purchased a new position in shares of Lennar during the 4th quarter valued at about $6,146,000. HPM Partners LLC raised its holdings in shares of Lennar by 52.4% during the 4th quarter. HPM Partners LLC now owns 17,068 shares of the construction company’s stock valued at $1,079,000 after buying an additional 5,869 shares in the last quarter. Finally, Stone Ridge Asset Management LLC purchased a new position in shares of Lennar during the 4th quarter valued at about $627,000. 88.73% of the stock is currently owned by institutional investors.
LEN stock opened at $58.87 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 8.42 and a quick ratio of 1.67. Lennar Co. has a 12 month low of $49.34 and a 12 month high of $72.17. The company has a market capitalization of $14,207.97, a P/E ratio of 17.21, a price-to-earnings-growth ratio of 0.61 and a beta of 1.31.
Lennar (NYSE:LEN) last posted its earnings results on Wednesday, January 10th. The construction company reported $1.29 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.21). Lennar had a net margin of 6.41% and a return on equity of 12.00%. The business had revenue of $3.79 billion for the quarter, compared to analysts’ expectations of $3.59 billion. During the same period last year, the firm posted $1.34 earnings per share. Lennar’s quarterly revenue was up 12.1% on a year-over-year basis. equities analysts predict that Lennar Co. will post 5.29 earnings per share for the current fiscal year.
In other news, CFO Bruce E. Gross sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, January 12th. The stock was sold at an average price of $69.43, for a total transaction of $347,150.00. Following the transaction, the chief financial officer now directly owns 361,043 shares of the company’s stock, valued at $25,067,215.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Bruce E. Gross sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $72.00, for a total value of $72,000.00. Following the transaction, the chief financial officer now directly owns 356,043 shares in the company, valued at $25,635,096. The disclosure for this sale can be found here. Insiders have sold 175,000 shares of company stock worth $12,092,050 over the last three months. Insiders own 8.50% of the company’s stock.
A number of equities analysts recently weighed in on LEN shares. Wedbush raised their price objective on Lennar from $54.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, December 29th. Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $78.00 price objective on the stock in a report on Tuesday, January 16th. ValuEngine cut Lennar from a “strong-buy” rating to a “buy” rating in a report on Wednesday, February 28th. Keefe, Bruyette & Woods reissued a “buy” rating and set a $78.00 price objective on shares of Lennar in a report on Thursday, January 11th. Finally, Evercore ISI raised Lennar from an “in-line” rating to an “outperform” rating in a report on Friday, February 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $67.93.
COPYRIGHT VIOLATION NOTICE: “Cornerstone Capital Management Holdings LLC. Increases Position in Lennar Co. (LEN)” was originally reported by The Ledger Gazette and is the property of of The Ledger Gazette. If you are viewing this article on another publication, it was copied illegally and republished in violation of U.S. and international copyright and trademark legislation. The legal version of this article can be viewed at https://ledgergazette.com/2018/03/21/cornerstone-capital-management-holdings-llc-increases-position-in-lennar-co-len.html.
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.
Want to see what other hedge funds are holding LEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lennar Co. (NYSE:LEN).
Receive News & Ratings for Lennar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar and related companies with MarketBeat.com's FREE daily email newsletter.