Lennar Corp. (LEN) Position Decreased by BNP Paribas Arbitrage SA
BNP Paribas Arbitrage SA cut its stake in shares of Lennar Corp. (NYSE:LEN) by 17.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 97,490 shares of the company’s stock after selling 20,958 shares during the period. BNP Paribas Arbitrage SA’s holdings in Lennar Corp. were worth $4,128,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in LEN. Ropes Wealth Advisors LLC boosted its stake in Lennar Corp. by 492.9% in the second quarter. Ropes Wealth Advisors LLC now owns 2,591 shares of the company’s stock valued at $119,000 after buying an additional 2,154 shares during the last quarter. Mizuho Asset Management Co. Ltd. boosted its stake in Lennar Corp. by 160.5% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,767 shares of the company’s stock valued at $128,000 after buying an additional 1,705 shares during the last quarter. Pacer Advisors Inc. boosted its stake in Lennar Corp. by 18.9% in the second quarter. Pacer Advisors Inc. now owns 3,211 shares of the company’s stock valued at $148,000 after buying an additional 510 shares during the last quarter. Tower Research Capital LLC TRC boosted its stake in Lennar Corp. by 1,971.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,432 shares of the company’s stock valued at $204,000 after buying an additional 4,218 shares during the last quarter. Finally, Chartist Inc. CA acquired a new stake in Lennar Corp. during the second quarter valued at $206,000. 81.18% of the stock is currently owned by hedge funds and other institutional investors.
Lennar Corp. (NYSE:LEN) traded down 1.29% during midday trading on Monday, hitting $43.71. The company had a trading volume of 1,845,874 shares. Lennar Corp. has a 52 week low of $37.14 and a 52 week high of $52.49. The company has a market capitalization of $9.96 billion, a P/E ratio of 11.50 and a beta of 1.28. The stock has a 50 day moving average price of $41.87 and a 200 day moving average price of $44.94.
Lennar Corp. (NYSE:LEN) last issued its quarterly earnings data on Tuesday, September 20th. The company reported $1.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.12. Lennar Corp. had a return on equity of 13.98% and a net margin of 8.37%. The business had revenue of $2.83 billion for the quarter. During the same quarter last year, the company earned $0.96 earnings per share. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. Equities analysts forecast that Lennar Corp. will post $3.82 earnings per share for the current fiscal year.
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LEN has been the topic of a number of research reports. Zacks Investment Research raised Lennar Corp. from a “hold” rating to a “buy” rating and set a $54.00 price objective on the stock in a report on Wednesday, August 24th. RBC Capital Markets reissued a “buy” rating and set a $55.00 price objective (down from $64.00) on shares of Lennar Corp. in a report on Wednesday, September 21st. Bank of America Corp. set a $52.00 price objective on Lennar Corp. and gave the company a “buy” rating in a report on Tuesday, September 20th. Buckingham Research raised Lennar Corp. from a “neutral” rating to a “buy” rating and set a $53.00 price objective on the stock in a report on Monday, October 17th. Finally, Argus reissued a “buy” rating and set a $55.00 price objective on shares of Lennar Corp. in a report on Friday, October 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Lennar Corp. currently has a consensus rating of “Buy” and an average target price of $53.39.
In other Lennar Corp. news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $42.01, for a total transaction of $840,200.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 12.18% of the company’s stock.
Lennar Corp. Company Profile
Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily.
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