State of Tennessee Treasury Department lessened its stake in Lennar Corporation (NYSE:LEN) by 4.8% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 76,588 shares of the construction company’s stock after selling 3,886 shares during the period. State of Tennessee Treasury Department’s holdings in Lennar Corporation were worth $4,083,000 at the end of the most recent quarter.
A number of other institutional investors also recently added to or reduced their stakes in the business. Cipher Capital LP boosted its position in Lennar Corporation by 47.9% in the 2nd quarter. Cipher Capital LP now owns 80,713 shares of the construction company’s stock worth $4,303,000 after purchasing an additional 26,135 shares in the last quarter. Swiss National Bank boosted its position in Lennar Corporation by 2.8% in 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. Eagle Asset Management Inc. boosted its position in Lennar Corporation by 10.0% in the 2nd quarter. Eagle Asset Management Inc. now owns 1,047,489 shares of the construction company’s stock worth $55,852,000 after purchasing an additional 95,097 shares in the last quarter. Principal Financial Group Inc. boosted its position in Lennar Corporation by 25.0% in the 2nd quarter. Principal Financial Group Inc. now owns 3,129,708 shares of the construction company’s stock worth $166,876,000 after purchasing an additional 625,329 shares in the last quarter. Finally, Greenwood Capital Associates LLC boosted its position in Lennar Corporation by 7.6% in the 2nd quarter. Greenwood Capital Associates LLC now owns 5,845 shares of the construction company’s stock worth $312,000 after purchasing an additional 415 shares in the last quarter. Institutional investors and hedge funds own 81.09% of the company’s stock.
In other news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $53.17, for a total value of $1,063,400.00. Following the sale, the chief operating officer now directly owns 139,433 shares in the company, valued at $7,413,652.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.18% of the stock is owned by corporate insiders.
LEN has been the topic of several recent research reports. Zacks Investment Research upgraded Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a research report on Friday, June 16th. Royal Bank Of Canada upped their price objective on Lennar Corporation from $61.00 to $64.00 and gave the stock an “outperform” rating in a research report on Thursday, July 13th. BidaskClub upgraded Lennar Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, August 12th. Credit Suisse Group started coverage on Lennar Corporation in a research report on Thursday, June 22nd. They issued a “neutral” rating and a $55.00 price objective on the stock. Finally, Wedbush reiterated a “neutral” rating and set a $46.00 target price on shares of Lennar Corporation in a research report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have given a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $56.41.
Shares of Lennar Corporation (LEN) opened at 52.16 on Wednesday. The firm has a 50 day moving average price of $52.44 and a 200-day moving average price of $51.92. Lennar Corporation has a 52 week low of $39.68 and a 52 week high of $55.75. The firm has a market capitalization of $12.23 billion, a P/E ratio of 15.25 and a beta of 1.24.
Lennar Corporation (NYSE:LEN) last issued its quarterly earnings data on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.13. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The business had revenue of $3.26 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the prior year, the business earned $0.95 earnings per share. The business’s revenue was up 18.8% on a year-over-year basis. Equities research analysts predict that Lennar Corporation will post $3.82 EPS for the current fiscal year.
Lennar Corporation 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.
Receive News & Ratings for Lennar Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lennar Corporation and related companies with MarketBeat.com's FREE daily email newsletter.