Prudential Financial Inc. lowered its stake in shares of Lennar Corporation (NYSE:LEN) by 11.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 582,974 shares of the construction company’s stock after selling 77,520 shares during the period. Prudential Financial Inc. owned 0.29% of Lennar Corporation worth $31,084,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Sanders Capital LLC raised its stake in Lennar Corporation by 1.3% in the first quarter. Sanders Capital LLC now owns 8,724,399 shares of the construction company’s stock valued at $456,887,000 after buying an additional 110,379 shares in the last quarter. Aristotle Capital Management LLC raised its stake in Lennar Corporation by 1.3% in the first quarter. Aristotle Capital Management LLC now owns 5,767,575 shares of the construction company’s stock valued at $295,242,000 after buying an additional 73,814 shares in the last quarter. UBS Asset Management Americas Inc. raised its stake in Lennar Corporation by 14.1% in the first quarter. UBS Asset Management Americas Inc. now owns 2,918,880 shares of the construction company’s stock valued at $149,417,000 after buying an additional 361,684 shares in the last quarter. Capital Growth Management LP raised its stake in Lennar Corporation by 55.5% in the first quarter. Capital Growth Management LP now owns 2,130,000 shares of the construction company’s stock valued at $109,035,000 after buying an additional 760,000 shares in the last quarter. Finally, Alliancebernstein L.P. raised its stake in Lennar Corporation by 527.2% in the first quarter. Alliancebernstein L.P. now owns 2,094,587 shares of the construction company’s stock valued at $107,222,000 after buying an additional 1,760,608 shares in the last quarter. Institutional investors own 81.09% of the company’s stock.

Lennar Corporation (LEN) opened at 51.76 on Friday. The stock has a market capitalization of $12.14 billion, a P/E ratio of 15.13 and a beta of 1.24. Lennar Corporation has a 1-year low of $39.68 and a 1-year high of $55.75. The stock has a 50 day moving average of $52.85 and a 200 day moving average of $51.71.

Lennar Corporation (NYSE:LEN) last released its earnings results on Tuesday, June 20th. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.13. The company had revenue of $3.26 billion for the quarter, compared to analyst estimates of $2.90 billion. Lennar Corporation had a net margin of 6.78% and a return on equity of 12.57%. The firm’s quarterly revenue was up 18.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 EPS. On average, analysts expect that Lennar Corporation will post $3.82 earnings per share for the current year.

ILLEGAL ACTIVITY WARNING: “Prudential Financial Inc. Has $31.08 Million Position in Lennar Corporation (LEN)” was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this news story on another domain, it was copied illegally and reposted in violation of US and international copyright legislation. The original version of this news story can be viewed at https://www.thecerbatgem.com/2017/09/02/prudential-financial-inc-has-31-08-million-position-in-lennar-corporation-len.html.

LEN has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Friday, June 16th. Wedbush reiterated a “neutral” rating and issued a $46.00 target price on shares of Lennar Corporation in a research report on Thursday, June 15th. Argus reiterated a “buy” rating and issued a $60.00 target price (up previously from $57.00) on shares of Lennar Corporation in a research report on Tuesday, July 25th. BidaskClub lowered shares of Lennar Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. Finally, Mizuho initiated coverage on shares of Lennar Corporation in a research report on Tuesday, May 16th. They issued a “buy” rating and a $59.00 target price on the stock. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $56.41.

In other Lennar Corporation news, COO Jonathan M. Jaffe sold 20,000 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $53.17, for a total value of $1,063,400.00. Following the transaction, the chief operating officer now directly owns 139,433 shares in the company, valued at approximately $7,413,652.61. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 12.18% of the stock is currently owned by corporate insiders.

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.

Institutional Ownership by Quarter for Lennar Corporation (NYSE:LEN)

Receive News & Stock 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 stocks with our FREE daily email newsletter.