Investec Asset Management LTD bought a new position in shares of Lennar Co. (NYSE:LEN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 430,360 shares of the construction company’s stock, valued at approximately $22,594,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Commonwealth Equity Services LLC increased its position in Lennar by 7.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 13,363 shares of the construction company’s stock worth $702,000 after purchasing an additional 966 shares in the last quarter. Brown Advisory Inc. increased its position in Lennar by 16.1% during the 2nd quarter. Brown Advisory Inc. now owns 6,999 shares of the construction company’s stock worth $368,000 after purchasing an additional 972 shares in the last quarter. Advisor Partners LLC increased its position in Lennar by 20.5% during the 1st quarter. Advisor Partners LLC now owns 6,284 shares of the construction company’s stock worth $370,000 after purchasing an additional 1,069 shares in the last quarter. Trust Co increased its position in Lennar by 15.4% during the 1st quarter. Trust Co now owns 8,349 shares of the construction company’s stock worth $492,000 after purchasing an additional 1,115 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in Lennar by 15.2% during the 1st quarter. Oppenheimer & Co. Inc. now owns 8,604 shares of the construction company’s stock worth $507,000 after purchasing an additional 1,138 shares in the last quarter. 85.81% 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 firm’s stock in a transaction that occurred on Monday, July 2nd. The shares were sold at an average price of $52.12, for a total transaction of $1,042,400.00. Following the completion of the sale, the chief operating officer now owns 212,333 shares of the company’s stock, valued at $11,066,795.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is owned by company insiders.

Shares of NYSE:LEN opened at $51.84 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.81 and a quick ratio of 0.76. Lennar Co. has a 52-week low of $48.71 and a 52-week high of $72.17. The company has a market capitalization of $17.33 billion, a price-to-earnings ratio of 13.61, a PEG ratio of 0.45 and a beta of 1.29.

Lennar (NYSE:LEN) last issued its quarterly earnings data on Tuesday, June 26th. The construction company reported $1.58 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $1.13. Lennar had a net margin of 6.49% and a return on equity of 12.82%. The company had revenue of $5.46 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter last year, the company earned $0.91 earnings per share. Lennar’s revenue for the quarter was up 67.4% on a year-over-year basis. analysts anticipate that Lennar Co. will post 6.1 EPS for the current fiscal year.

A number of analysts recently issued reports on the stock. Zacks Investment Research raised shares of Lennar from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Tuesday, June 5th. Maxim Group dropped their target price on shares of Lennar from $83.00 to $71.00 and set a “buy” rating for the company in a research report on Wednesday, May 23rd. Barclays reissued an “overweight” rating and set a $65.00 target price (down previously from $72.00) on shares of Lennar in a research report on Wednesday, June 27th. MKM Partners lowered their price objective on shares of Lennar to $71.00 and set a “buy” rating for the company in a research report on Wednesday, May 23rd. Finally, Citigroup assumed coverage on shares of Lennar in a research report on Tuesday, June 19th. They issued a “buy” rating and a $65.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $71.69.

Lennar Company Profile

Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development, and sale of residential land.

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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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