Swiss National Bank Boosts Stake in Lennar Corporation (LEN)
Swiss National Bank lifted its stake in shares of Lennar Corporation (NYSE:LEN) by 2.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 741,000 shares of the construction company’s stock after buying an additional 19,900 shares during the period. Swiss National Bank owned approximately 0.36% of Lennar Corporation worth $39,510,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of LEN. Macquarie Group Ltd. lifted its stake in shares of Lennar Corporation by 8.9% during the fourth quarter. Macquarie Group Ltd. now owns 6,100 shares of the construction company’s stock worth $262,000 after buying an additional 500 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Lennar Corporation by 0.8% during the first quarter. Louisiana State Employees Retirement System now owns 12,500 shares of the construction company’s stock worth $640,000 after buying an additional 100 shares during the period. Retirement Systems of Alabama lifted its stake in shares of Lennar Corporation by 2.5% during the first quarter. Retirement Systems of Alabama now owns 98,219 shares of the construction company’s stock worth $5,028,000 after buying an additional 2,360 shares during the period. Nationwide Fund Advisors lifted its stake in shares of Lennar Corporation by 8.3% during the first quarter. Nationwide Fund Advisors now owns 56,967 shares of the construction company’s stock worth $2,916,000 after buying an additional 4,371 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in shares of Lennar Corporation during the first quarter worth $426,000. Institutional investors and hedge funds own 81.09% of the company’s stock.
Lennar Corporation (NYSE:LEN) opened at 50.05 on Thursday. Lennar Corporation has a 12-month low of $39.68 and a 12-month high of $55.75. The firm has a 50-day moving average of $52.66 and a 200-day moving average of $51.84. The stock has a market cap of $11.74 billion, a PE ratio of 14.63 and a beta of 1.24.
Lennar Corporation (NYSE:LEN) last announced its quarterly 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 business had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.90 billion. Lennar Corporation had a net margin of 6.78% and a return on equity of 12.57%. The business’s revenue was up 18.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 EPS. Equities analysts predict that Lennar Corporation will post $3.82 earnings per share for the current fiscal year.
In other news, COO Jonathan M. Jaffe sold 20,000 shares of the 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 completion of the transaction, the chief operating officer now owns 139,433 shares in the company, valued at approximately $7,413,652.61. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 12.18% of the company’s stock.
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Several equities research analysts have recently commented on LEN shares. Zacks Investment Research upgraded shares of Lennar Corporation from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research note on Friday, June 16th. Wedbush reiterated a “neutral” rating and set a $46.00 price objective on shares of Lennar Corporation in a research note on Thursday, June 15th. Argus reiterated a “buy” rating and set a $60.00 price objective (up from $57.00) on shares of Lennar Corporation in a research note on Tuesday, July 25th. BidaskClub cut shares of Lennar Corporation from a “hold” rating to a “sell” rating in a report on Saturday, August 26th. Finally, Mizuho started coverage on shares of Lennar Corporation in a report on Tuesday, May 16th. They set a “buy” rating and a $59.00 target price for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, nine have issued a buy rating and two have given a strong buy rating to the company. Lennar Corporation currently has a consensus rating of “Buy” and a consensus price target of $56.41.
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.
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