MANA Advisors LLC bought a new position in shares of Lennar Co. (NYSE:LEN) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 12,046 shares of the construction company’s stock, valued at approximately $762,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in Lennar during the fourth quarter worth approximately $103,000. First Personal Financial Services acquired a new stake in Lennar during the fourth quarter worth approximately $140,000. Independence Bank of Kentucky acquired a new stake in Lennar during the fourth quarter worth approximately $153,000. NuWave Investment Management LLC acquired a new stake in Lennar during the fourth quarter worth approximately $203,000. Finally, Pitcairn Co. purchased a new position in Lennar during the fourth quarter worth approximately $214,000. Hedge funds and other institutional investors own 88.76% of the company’s stock.
In related news, CFO Bruce E. Gross sold 9,000 shares of Lennar stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $72.00, for a total transaction of $648,000.00. Following the sale, the chief financial officer now owns 346,043 shares of the company’s stock, valued at approximately $24,915,096. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Jonathan M. Jaffe sold 20,000 shares of Lennar stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $64.02, for a total transaction of $1,280,400.00. Following the sale, the chief operating officer now directly owns 99,000 shares in the company, valued at approximately $6,337,980. The disclosure for this sale can be found here. In the last three months, insiders sold 175,000 shares of company stock worth $12,092,050. Insiders own 8.50% of the company’s stock.
A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research note on Wednesday. Argus increased their price target on shares of Lennar from $64.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, March 1st. ValuEngine downgraded shares of Lennar from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, February 28th. Evercore ISI raised shares of Lennar from an “in-line” rating to an “outperform” rating in a research note on Friday, February 23rd. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $77.00 price target on shares of Lennar in a research note on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. Lennar has a consensus rating of “Buy” and a consensus target price of $67.93.
Shares of Lennar Co. (LEN) traded up $0.50 during mid-day trading on Friday, hitting $59.39. 1,161,964 shares of the stock were exchanged, compared to its average volume of 5,189,027. Lennar Co. has a fifty-two week low of $49.34 and a fifty-two week high of $72.17. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.67 and a current ratio of 8.42. The stock has a market cap of $13,700.00, a P/E ratio of 17.69, a PEG ratio of 0.62 and a beta of 1.31.
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). Lennar had a net margin of 6.41% and a return on equity of 12.00%. The business had revenue of $3.79 billion during the quarter, compared to analysts’ expectations of $3.59 billion. During the same period in the prior year, the business posted $1.34 EPS. The business’s revenue was up 12.1% on a year-over-year basis. equities analysts forecast that Lennar Co. will post 5.29 earnings per share 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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