Macquarie Group Ltd. cut its position in shares of Lennar Co. (NYSE:LEN) by 44.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,100 shares of the construction company’s stock after selling 4,090 shares during the period. Macquarie Group Ltd.’s holdings in Lennar were worth $1,139,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Lennar during the 4th quarter valued at about $103,000. First Personal Financial Services acquired a new position in shares of Lennar during the 4th quarter valued at about $140,000. Independence Bank of Kentucky acquired a new position in shares of Lennar during the 4th quarter valued at about $153,000. NuWave Investment Management LLC acquired a new position in shares of Lennar during the 4th quarter valued at about $203,000. Finally, Pitcairn Co. acquired a new position in shares of Lennar during the 4th quarter valued at about $214,000. 88.73% of the stock is owned by institutional investors.
In other news, CFO Bruce E. Gross sold 9,000 shares of Lennar stock in a transaction that occurred on Monday, January 22nd. The stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David M. Collins sold 5,000 shares of Lennar stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $71.15, for a total value of $355,750.00. Following the sale, the insider now directly owns 118,361 shares in the company, valued at approximately $8,421,385.15. The disclosure for this sale can be found here. Insiders sold a total of 155,000 shares of company stock worth $10,811,650 in the last ninety days. Insiders own 8.50% of the company’s stock.
A number of research analysts have recently commented on LEN shares. Wells Fargo raised Lennar from a “market perform” rating to an “outperform” rating and set a $74.00 price objective on the stock in a report on Tuesday, January 2nd. Zacks Investment Research lowered Lennar from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Royal Bank of Canada set a $82.00 price objective on Lennar and gave the company a “buy” rating in a report on Friday, January 12th. JPMorgan Chase reissued an “overweight” rating and set a $77.00 price objective on shares of Lennar in a report on Tuesday, February 13th. Finally, Mizuho raised Lennar from a “neutral” rating to a “buy” rating in a report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. Lennar currently has a consensus rating of “Buy” and a consensus target price of $68.80.
LEN opened at $61.58 on Friday. The company has a market capitalization of $15,074.22, a price-to-earnings ratio of 16.16, a price-to-earnings-growth ratio of 0.63 and a beta of 1.23. The company has a current ratio of 8.42, a quick ratio of 1.67 and a debt-to-equity ratio of 0.80. Lennar Co. has a 12-month low of $49.34 and a 12-month high of $72.17.
Lennar (NYSE:LEN) last released its earnings results on Wednesday, April 4th. The construction company reported $1.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.76 by $0.35. The firm had revenue of $2.98 billion for the quarter, compared to analyst estimates of $3.05 billion. Lennar had a return on equity of 13.73% and a net margin of 6.84%. The company’s revenue was up 27.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. research analysts expect that Lennar Co. will post 5.48 EPS 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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