Tredje AP fonden Boosts Stake in Lennar Corporation (LEN)
Tredje AP fonden raised its stake in Lennar Corporation (NYSE:LEN) by 20.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 44,394 shares of the construction company’s stock after acquiring an additional 7,530 shares during the quarter. Tredje AP fonden’s holdings in Lennar Corporation were worth $2,367,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of the company. Sanders Capital LLC lifted its holdings in shares of Lennar Corporation by 1.3% in the first quarter. Sanders Capital LLC now owns 8,724,399 shares of the construction company’s stock worth $456,887,000 after acquiring an additional 110,379 shares during the last quarter. Aristotle Capital Management LLC lifted its holdings in shares of 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 worth $295,242,000 after acquiring an additional 73,814 shares during the last quarter. Greenhaven Associates Inc. lifted its holdings in shares of Lennar Corporation by 0.9% in the second quarter. Greenhaven Associates Inc. now owns 5,420,516 shares of the construction company’s stock worth $289,022,000 after acquiring an additional 46,200 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Lennar Corporation by 25.0% in the second quarter. Principal Financial Group Inc. now owns 3,129,708 shares of the construction company’s stock worth $166,876,000 after acquiring an additional 625,329 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its holdings in Lennar Corporation by 14.1% in the 1st 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 during the last quarter. 81.09% of the stock is owned by hedge funds and other institutional investors.
In other news, COO Jonathan M. Jaffe sold 20,000 shares of the business’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 transaction of $1,063,400.00. Following the transaction, the chief operating officer now directly owns 139,433 shares of the company’s stock, valued at $7,413,652.61. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 12.18% of the stock is currently owned by insiders.
A number of research analysts recently issued reports on LEN shares. Mizuho started coverage on shares of Lennar Corporation in a report on Tuesday, May 16th. They issued a “buy” rating and a $59.00 price objective for the company. 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 report on Tuesday, May 23rd. Wedbush reiterated a “neutral” rating and issued a $46.00 price objective on shares of Lennar Corporation in a report on Thursday, June 15th. BidaskClub lowered shares of Lennar Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, June 20th. Finally, Royal Bank Of Canada raised their price objective on shares of Lennar Corporation from $60.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating, nine have given a buy rating and two have given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $56.41.
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Shares of Lennar Corporation (LEN) opened at 50.54 on Monday. Lennar Corporation has a 12 month low of $39.68 and a 12 month high of $55.75. The stock’s 50 day moving average is $52.49 and its 200 day moving average is $51.82. The firm has a market cap of $11.85 billion, a P/E ratio of 14.77 and a beta of 1.24.
Lennar Corporation (NYSE:LEN) last announced its quarterly earnings data on Tuesday, June 20th. The construction company reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.13. Lennar Corporation had a return on equity of 12.57% and a net margin of 6.78%. The firm had revenue of $3.26 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The business’s revenue was up 18.8% on a year-over-year basis. Equities research analysts expect that Lennar Corporation will post $3.82 EPS for the current year.
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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