Lennar Co. (LEN) Shares Bought by Nomura Asset Management Co. Ltd.
Nomura Asset Management Co. Ltd. boosted its holdings in Lennar Co. (NYSE:LEN) by 7.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 48,057 shares of the construction company’s stock after purchasing an additional 3,257 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Lennar were worth $1,881,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently modified their holdings of LEN. Oregon Public Employees Retirement Fund grew its holdings in Lennar by 5,332.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 4,346,825 shares of the construction company’s stock valued at $111,000 after buying an additional 4,266,802 shares in the last quarter. Sound Shore Management Inc. CT acquired a new position in Lennar in the 4th quarter valued at $105,318,000. Vanguard Group Inc. grew its holdings in Lennar by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 31,160,634 shares of the construction company’s stock valued at $1,445,931,000 after buying an additional 1,099,188 shares in the last quarter. Ruffer LLP grew its holdings in Lennar by 407.8% in the 4th quarter. Ruffer LLP now owns 573,702 shares of the construction company’s stock valued at $22,461,000 after buying an additional 460,725 shares in the last quarter. Finally, United Services Automobile Association grew its holdings in Lennar by 93.0% in the 3rd quarter. United Services Automobile Association now owns 795,291 shares of the construction company’s stock valued at $37,132,000 after buying an additional 383,181 shares in the last quarter. 84.53% of the stock is currently owned by hedge funds and other institutional investors.
LEN has been the topic of a number of research reports. Royal Bank of Canada decreased their price objective on Lennar and set an “outperform” rating on the stock in a report on Friday, January 11th. Barclays set a $55.00 price objective on Lennar and gave the company a “buy” rating in a report on Wednesday, December 12th. Credit Suisse Group reaffirmed a “hold” rating and issued a $49.00 price objective on shares of Lennar in a report on Friday, February 15th. Zacks Investment Research raised Lennar from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Bank of America decreased their price objective on Lennar from $60.00 to $58.00 and set a “buy” rating on the stock in a report on Thursday, January 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Lennar has an average rating of “Buy” and an average target price of $57.29.
Lennar (NYSE:LEN) last released its quarterly earnings data on Wednesday, January 9th. The construction company reported $1.96 earnings per share for the quarter, beating the consensus estimate of $1.91 by $0.05. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.46 billion. Lennar had a return on equity of 13.76% and a net margin of 8.24%. Lennar’s revenue was up 70.7% compared to the same quarter last year. During the same period last year, the firm posted $1.29 earnings per share. Equities analysts forecast that Lennar Co. will post 6.02 earnings per share for the current year.
In related news, COO Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, January 2nd. The stock was sold at an average price of $40.03, for a total value of $800,600.00. Following the sale, the chief operating officer now directly owns 171,014 shares of the company’s stock, valued at $6,845,690.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.43% of the company’s stock.
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Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. It operates through Homebuilding East, Homebuilding Central, Homebuilding Texas, Homebuilding West, Lennar Financial Services, Lennar Multifamily, and Rialto segments. The company's 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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