Lennar Corp. (LEN) Shares Bought by Chevy Chase Trust Holdings Inc.
Chevy Chase Trust Holdings Inc. boosted its stake in Lennar Corp. (NYSE:LEN) by 0.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 157,130 shares of the company’s stock after buying an additional 81 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.07% of Lennar Corp. worth $6,653,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of LEN. Emerald Acquisition Ltd. purchased a new stake in shares of Lennar Corp. during the second quarter valued at approximately $112,193,000. Marketfield Asset Management LLC purchased a new stake in shares of Lennar Corp. during the second quarter valued at approximately $17,945,000. Lord Abbett & CO. LLC raised its stake in shares of Lennar Corp. by 15.0% in the second quarter. Lord Abbett & CO. LLC now owns 2,835,787 shares of the company’s stock valued at $130,730,000 after buying an additional 368,924 shares during the last quarter. Eminence Capital LP raised its stake in shares of Lennar Corp. by 10.9% in the second quarter. Eminence Capital LP now owns 3,365,856 shares of the company’s stock valued at $155,166,000 after buying an additional 331,226 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Lennar Corp. by 712.3% in the second quarter. Thrivent Financial for Lutherans now owns 341,558 shares of the company’s stock valued at $15,746,000 after buying an additional 299,508 shares during the last quarter. 81.18% of the stock is owned by institutional investors.
Lennar Corp. (NYSE:LEN) traded down 3.447% during midday trading on Wednesday, reaching $42.715. 2,487,937 shares of the company were exchanged. The firm has a market cap of $9.73 billion, a P/E ratio of 11.238 and a beta of 1.28. The firm’s 50-day moving average is $41.93 and its 200-day moving average is $44.94. Lennar Corp. has a one year low of $37.14 and a one year high of $52.49.
Lennar Corp. (NYSE:LEN) last released its earnings results on Tuesday, September 20th. The company reported $1.01 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.12. The business had revenue of $2.83 billion for the quarter. Lennar Corp. had a net margin of 8.37% and a return on equity of 13.98%. The business’s revenue was up 13.7% on a year-over-year basis. During the same period last year, the business earned $0.96 earnings per share. On average, equities analysts expect that Lennar Corp. will post $3.82 EPS for the current fiscal year.
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Several research firms have issued reports on LEN. Wells Fargo & Co. began coverage on Lennar Corp. in a report on Wednesday, September 28th. They set a “market perform” rating for the company. Buckingham Research raised Lennar Corp. from a “neutral” rating to a “buy” rating and set a $53.00 price target for the company in a report on Monday, October 17th. Zacks Investment Research lowered Lennar Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 29th. Wedbush began coverage on Lennar Corp. in a report on Monday, September 19th. They set a “neutral” rating and a $46.00 price target for the company. Finally, Keefe, Bruyette & Woods cut their price target on Lennar Corp. from $57.00 to $55.00 and set an “outperform” rating for the company in a report on Wednesday, September 21st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Lennar Corp. has an average rating of “Buy” and a consensus target price of $53.39.
In related news, COO Jonathan M. Jaffe sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, October 3rd. The shares were 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 is available through this hyperlink. Corporate insiders own 12.18% of the company’s stock.
About Lennar Corp.
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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