Davidson & Garrard Inc. Maintains Stake in Lennar Corporation (LEN)
Davidson & Garrard Inc. maintained its position in Lennar Corporation (NYSE:LEN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,200 shares of the construction company’s stock at the end of the second quarter. Davidson & Garrard Inc.’s holdings in Lennar Corporation were worth $277,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Alps Advisors Inc. raised its position in Lennar Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 9,280 shares of the construction company’s stock worth $495,000 after buying an additional 24 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Lennar Corporation by 0.7% in the second quarter. Fisher Asset Management LLC now owns 4,052 shares of the construction company’s stock valued at $216,000 after buying an additional 27 shares during the period. State of Alaska Department of Revenue raised its position in shares of Lennar Corporation by 0.7% in the second quarter. State of Alaska Department of Revenue now owns 6,157 shares of the construction company’s stock valued at $328,000 after buying an additional 40 shares during the period. Gateway Investment Advisers LLC raised its position in shares of Lennar Corporation by 0.4% in the second quarter. Gateway Investment Advisers LLC now owns 12,604 shares of the construction company’s stock valued at $672,000 after buying an additional 48 shares during the period. Finally, MAI Capital Management raised its position in shares of Lennar Corporation by 1.3% in the second quarter. MAI Capital Management now owns 4,707 shares of the construction company’s stock valued at $251,000 after buying an additional 60 shares during the period. 81.09% of the stock is currently owned by institutional investors.
Shares of Lennar Corporation (LEN) opened at 50.92 on Tuesday. Lennar Corporation has a one year low of $39.68 and a one year high of $55.75. The company’s 50-day moving average price is $53.24 and its 200 day moving average price is $51.51. The company has a market cap of $11.94 billion, a P/E ratio of 14.88 and a beta of 1.26.
Lennar Corporation (NYSE:LEN) last released its earnings results on Tuesday, June 20th. The construction company reported $0.91 EPS for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.13. The company had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 EPS. On average, equities research analysts anticipate that Lennar Corporation will post $3.82 earnings per share for the current year.
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Several brokerages have issued reports on LEN. Zacks Investment Research lowered Lennar Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, August 23rd. BidaskClub lowered Lennar Corporation from a “hold” rating to a “sell” rating in a research note on Saturday. Royal Bank Of Canada reissued a “buy” rating and issued a $64.00 price target on shares of Lennar Corporation in a research note on Monday, August 21st. Mizuho began coverage on Lennar Corporation in a research note on Tuesday, May 16th. They issued a “buy” rating and a $59.00 price target on the stock. Finally, MKM Partners reissued a “neutral” rating and issued a $58.00 price target (up from $55.00) on shares of Lennar Corporation in a research note on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, nine have assigned a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $56.41.
In other news, COO Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now owns 139,433 shares in the company, valued at approximately $7,413,652.61. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 12.18% of the company’s stock.
About Lennar Corporation
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.
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