Lennar Corporation (LEN) Shares Sold by Howard Hughes Medical Institute
Howard Hughes Medical Institute lowered its stake in Lennar Corporation (NYSE:LEN) by 7.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,136 shares of the construction company’s stock after selling 10,864 shares during the period. Lennar Corporation accounts for 1.4% of Howard Hughes Medical Institute’s holdings, making the stock its 12th largest holding. Howard Hughes Medical Institute owned approximately 0.07% of Lennar Corporation worth $7,419,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently modified their holdings of the company. Great Lakes Advisors LLC acquired a new stake in Lennar Corporation in the second quarter valued at approximately $1,896,000. Daiwa Securities Group Inc. boosted its position in Lennar Corporation by 9.7% in the second quarter. Daiwa Securities Group Inc. now owns 6,200 shares of the construction company’s stock valued at $331,000 after buying an additional 550 shares in the last quarter. National Pension Service boosted its position in Lennar Corporation by 9.8% in the second quarter. National Pension Service now owns 235,689 shares of the construction company’s stock valued at $12,421,000 after buying an additional 21,075 shares in the last quarter. LMR Partners LLP boosted its position in Lennar Corporation by 43.5% in the second quarter. LMR Partners LLP now owns 14,295 shares of the construction company’s stock valued at $762,000 after buying an additional 4,333 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its position in Lennar Corporation by 2.6% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 658,941 shares of the construction company’s stock valued at $35,135,000 after buying an additional 16,959 shares in the last quarter. Hedge funds and other institutional investors own 81.09% of the company’s stock.
In other Lennar Corporation news, COO Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $53.17, for a total transaction of $1,063,400.00. Following the completion of the sale, the chief operating officer now owns 139,433 shares of the company’s stock, valued at approximately $7,413,652.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 12.18% of the company’s stock.
Shares of Lennar Corporation (NYSE LEN) traded up 0.83% during trading on Friday, reaching $51.31. 3,162,233 shares of the company were exchanged. The stock has a market capitalization of $12.03 billion, a PE ratio of 15.00 and a beta of 1.24. The stock has a 50-day moving average price of $52.26 and a 200-day moving average price of $51.96. Lennar Corporation has a one year low of $39.68 and a one year high of $55.75.
Lennar Corporation (NYSE:LEN) last announced its quarterly earnings results 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. The business had revenue of $3.26 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Lennar Corporation had a net margin of 6.78% and a return on equity of 12.57%. The firm’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 EPS. Analysts forecast that Lennar Corporation will post $3.82 EPS for the current year.
A number of brokerages have weighed in on LEN. MKM Partners restated a “neutral” rating and issued a $58.00 target price (up previously from $55.00) on shares of Lennar Corporation in a research report on Friday, June 23rd. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $62.00 price target on shares of Lennar Corporation in a research note on Thursday, July 27th. Credit Suisse Group began coverage on shares of Lennar Corporation in a research note on Thursday, June 22nd. They set a “neutral” rating and a $55.00 price target for the company. Royal Bank Of Canada reaffirmed a “buy” rating and set a $64.00 price target on shares of Lennar Corporation in a research note on Monday, August 21st. Finally, Zacks Investment Research downgraded shares of Lennar Corporation from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Lennar Corporation presently has an average rating of “Buy” and a consensus price target of $56.82.
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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