Penserra Capital Management LLC lifted its stake in shares of Lennar Co. (NYSE:LEN) by 38.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,065 shares of the construction company’s stock after purchasing an additional 569 shares during the quarter. Penserra Capital Management LLC’s holdings in Lennar were worth $114,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Massey Quick Simon & CO. LLC bought a new position in Lennar during the 3rd quarter worth $42,000. FinTrust Capital Advisors LLC acquired a new position in shares of Lennar during the third quarter valued at $56,000. CSat Investment Advisory L.P. boosted its holdings in shares of Lennar by 183.5% during the second quarter. CSat Investment Advisory L.P. now owns 1,256 shares of the construction company’s stock valued at $61,000 after acquiring an additional 813 shares during the period. Patriot Financial Group Insurance Agency LLC grew its position in shares of Lennar by 244.4% during the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,550 shares of the construction company’s stock worth $75,000 after acquiring an additional 1,100 shares during the last quarter. Finally, MUFG Americas Holdings Corp grew its position in shares of Lennar by 79.2% during the second quarter. MUFG Americas Holdings Corp now owns 2,177 shares of the construction company’s stock worth $105,000 after acquiring an additional 962 shares during the last quarter. 84.22% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:LEN opened at $58.86 on Tuesday. The company has a 50 day moving average of $59.86 and a 200-day moving average of $53.49. The firm has a market cap of $18.95 billion, a P/E ratio of 10.67, a P/E/G ratio of 1.21 and a beta of 1.06. Lennar Co. has a twelve month low of $37.29 and a twelve month high of $62.63. The company has a current ratio of 14.19, a quick ratio of 0.79 and a debt-to-equity ratio of 0.59.
Lennar (NYSE:LEN) last posted its quarterly earnings data on Wednesday, October 2nd. The construction company reported $1.59 EPS for the quarter, beating the Zacks’ consensus estimate of $1.32 by $0.27. Lennar had a net margin of 9.06% and a return on equity of 12.10%. The business had revenue of $5.86 billion for the quarter, compared to analyst estimates of $5.48 billion. During the same quarter last year, the business earned $1.61 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts forecast that Lennar Co. will post 5.49 EPS for the current year.
In other Lennar news, President Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $56.00, for a total value of $1,120,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Irving Bolotin sold 5,000 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $58.90, for a total transaction of $294,500.00. Following the completion of the sale, the director now directly owns 31,692 shares of the company’s stock, valued at $1,866,658.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,126 shares of company stock valued at $2,954,819. 8.43% of the stock is currently owned by corporate insiders.
Several analysts recently weighed in on LEN shares. Raymond James upgraded shares of Lennar from a “market perform” rating to an “outperform” rating and set a $61.00 price objective on the stock in a research report on Wednesday, September 25th. Buckingham Research upped their target price on shares of Lennar from $60.00 to $67.00 and gave the stock a “buy” rating in a research report on Thursday, October 3rd. Zacks Investment Research upgraded shares of Lennar from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research note on Friday, October 4th. SunTrust Banks initiated coverage on shares of Lennar in a research note on Monday, August 12th. They issued a “hold” rating and a $47.00 price target on the stock. Finally, Barclays lifted their price target on Lennar from $60.00 to $63.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $59.89.
Lennar Company Profile
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company's homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.
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