Arizona State Retirement System Raises Position in Lennar Corp. (LEN)
Arizona State Retirement System raised its position in shares of Lennar Corp. (NYSE:LEN) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,231 shares of the company’s stock after buying an additional 1,200 shares during the period. Arizona State Retirement System’s holdings in Lennar Corp. were worth $1,957,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of LEN. Cleararc Capital Inc. increased its position in Lennar Corp. by 1.9% in the second quarter. Cleararc Capital Inc. now owns 4,465 shares of the company’s stock worth $206,000 after buying an additional 83 shares in the last quarter. Gateway Investment Advisers LLC increased its position in Lennar Corp. by 0.8% in the second quarter. Gateway Investment Advisers LLC now owns 12,620 shares of the company’s stock worth $582,000 after buying an additional 97 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in Lennar Corp. by 1.7% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 6,996 shares of the company’s stock worth $323,000 after buying an additional 120 shares in the last quarter. Pitcairn Co. increased its position in Lennar Corp. by 1.7% in the second quarter. Pitcairn Co. now owns 7,530 shares of the company’s stock worth $347,000 after buying an additional 125 shares in the last quarter. Finally, LS Investment Advisors LLC increased its position in Lennar Corp. by 2.9% in the second quarter. LS Investment Advisors LLC now owns 7,648 shares of the company’s stock worth $353,000 after buying an additional 217 shares in the last quarter. Institutional investors own 81.18% of the company’s stock.
Shares of Lennar Corp. (NYSE:LEN) traded up 1.21% on Tuesday, hitting $44.24. The company’s stock had a trading volume of 2,271,465 shares. The firm has a market cap of $10.08 billion, a price-to-earnings ratio of 11.64 and a beta of 1.28. The stock’s 50-day moving average price is $41.93 and its 200-day moving average price is $44.94. Lennar Corp. has a 52 week low of $37.14 and a 52 week high of $52.49.
Lennar Corp. (NYSE:LEN) last issued its quarterly earnings data on Tuesday, September 20th. The company reported $1.01 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 firm had revenue of $2.83 billion for the quarter. During the same period in the prior year, the company earned $0.96 earnings per share. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. Equities analysts expect that Lennar Corp. will post $3.82 earnings per share for the current fiscal year.
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A number of equities analysts recently commented on LEN shares. Zacks Investment Research upgraded 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. Evercore ISI assumed coverage on Lennar Corp. in a report on Monday, November 14th. They issued a “buy” rating on the stock. Wells Fargo & Co. assumed coverage on Lennar Corp. in a report on Wednesday, September 28th. They set a “market perform” rating on the stock. Citigroup Inc. lowered their price target on Lennar Corp. from $50.00 to $48.00 and set a “neutral” rating on the stock in a report on Wednesday, September 21st. Finally, Wedbush assumed coverage on Lennar Corp. in a report on Monday, September 19th. They set a “neutral” rating and a $46.00 price target on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company. Lennar Corp. presently has a consensus rating of “Buy” and an average price target of $53.39.
In other Lennar Corp. news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $42.01, for a total value of $840,200.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 12.18% of the stock is owned by company insiders.
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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