Stifel Financial Corp lifted its stake in shares of Lennar Co. (NYSE:LEN) by 31.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,546 shares of the construction company’s stock after purchasing an additional 2,987 shares during the quarter. Stifel Financial Corp’s holdings in Lennar were worth $660,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Fishman Jay A Ltd. MI bought a new position in shares of Lennar during the 3rd quarter worth about $1,771,000. Rational Advisors LLC bought a new position in shares of Lennar during the 3rd quarter worth about $1,438,000. Victory Capital Management Inc. boosted its position in shares of Lennar by 17.9% during the 2nd quarter. Victory Capital Management Inc. now owns 33,473 shares of the construction company’s stock worth $1,785,000 after purchasing an additional 5,083 shares in the last quarter. Bank of Nova Scotia boosted its position in shares of Lennar by 71.8% during the 2nd quarter. Bank of Nova Scotia now owns 79,890 shares of the construction company’s stock worth $4,260,000 after purchasing an additional 33,388 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of Lennar by 2.8% during the 2nd quarter. Swiss National Bank now owns 741,000 shares of the construction company’s stock worth $39,510,000 after purchasing an additional 19,900 shares in the last quarter. 81.25% of the stock is currently owned by institutional investors.
Lennar Co. (NYSE:LEN) opened at $69.26 on Friday. Lennar Co. has a 1 year low of $42.57 and a 1 year high of $70.40. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.59 and a current ratio of 7.76. The company has a market cap of $16,100.00, a P/E ratio of 19.96, a price-to-earnings-growth ratio of 1.06 and a beta of 1.35.
Lennar (NYSE:LEN) last posted its earnings results on Wednesday, January 10th. The construction company reported $1.29 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.50 by ($0.21). Lennar had a return on equity of 12.22% and a net margin of 6.41%. The firm had revenue of $3.79 billion for the quarter, compared to the consensus estimate of $3.59 billion. During the same period in the prior year, the business earned $1.34 EPS. Lennar’s quarterly revenue was up 12.1% compared to the same quarter last year. sell-side analysts forecast that Lennar Co. will post 5.09 earnings per share for the current year.
In other Lennar news, COO Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 99,000 shares of the company’s stock, valued at approximately $6,337,980. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Bruce E. Gross sold 5,000 shares of the firm’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 transaction of $300,000.00. Following the sale, the chief financial officer now owns 371,043 shares of the company’s stock, valued at approximately $22,262,580. The disclosure for this sale can be found here. 12.18% of the stock is owned by company insiders.
A number of equities analysts have recently issued reports on LEN shares. Zacks Investment Research cut shares of Lennar from a “buy” rating to a “hold” rating in a research report on Monday, September 18th. JMP Securities raised shares of Lennar from a “market perform” rating to an “outperform” rating in a research report on Monday, November 6th. Mizuho reissued a “hold” rating and set a $53.00 price objective on shares of Lennar in a research report on Friday, October 27th. BTIG Research raised their price target on shares of Lennar from $62.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, October 4th. Finally, Wells Fargo & Co raised shares of Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 price target on the stock in a research report on Tuesday, January 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $62.53.
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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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