Pacer Advisors Inc. Lowers Position in Lennar Co. (NYSE:LEN)
Pacer Advisors Inc. lessened its position in Lennar Co. (NYSE:LEN) by 69.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 27,666 shares of the construction company’s stock after selling 61,767 shares during the quarter. Pacer Advisors Inc.’s holdings in Lennar were worth $1,341,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LEN. Penserra Capital Management LLC bought a new stake in shares of Lennar in the 1st quarter worth $57,000. Patriot Financial Group Insurance Agency LLC increased its holdings in Lennar by 244.4% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,550 shares of the construction company’s stock valued at $75,000 after purchasing an additional 1,100 shares during the last quarter. MUFG Americas Holdings Corp increased its holdings in Lennar by 79.2% in the 2nd quarter. MUFG Americas Holdings Corp now owns 2,177 shares of the construction company’s stock valued at $105,000 after purchasing an additional 962 shares during the last quarter. Hilton Capital Management LLC acquired a new stake in Lennar in the 1st quarter valued at approximately $109,000. Finally, Global Wealth Management Investment Advisory Inc. increased its holdings in Lennar by 10,688.5% in the 1st quarter. Global Wealth Management Investment Advisory Inc. now owns 2,805 shares of the construction company’s stock valued at $138,000 after purchasing an additional 2,779 shares during the last quarter. Institutional investors own 83.93% of the company’s stock.
Several analysts recently weighed in on the stock. SunTrust Banks assumed coverage on shares of Lennar in a report on Monday, August 12th. They issued a “hold” rating and a $47.00 target price for the company. Seaport Global Securities initiated coverage on shares of Lennar in a research report on Friday, August 23rd. They issued a “buy” rating and a $71.00 price target for the company. JPMorgan Chase & Co. reduced their price target on shares of Lennar from $57.00 to $54.00 and set an “overweight” rating for the company in a research report on Wednesday, June 26th. ValuEngine cut shares of Lennar from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, Raymond James cut shares of Lennar from an “outperform” rating to a “market perform” rating and set a $55.00 price target for the company. in a research report on Tuesday, June 18th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $57.10.
NYSE LEN traded down $0.57 during trading hours on Friday, hitting $54.01. 865,300 shares of the stock were exchanged, compared to its average volume of 2,706,851. The company has a market cap of $17.58 billion, a price-to-earnings ratio of 8.51, a price-to-earnings-growth ratio of 1.17 and a beta of 1.09. Lennar Co. has a 12-month low of $37.29 and a 12-month high of $54.98. The stock has a 50-day moving average of $50.00 and a 200 day moving average of $50.12. The company has a quick ratio of 0.79, a current ratio of 13.93 and a debt-to-equity ratio of 0.62.
Lennar (NYSE:LEN) last posted its quarterly earnings results on Tuesday, June 25th. The construction company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.17. The firm had revenue of $5.56 billion during the quarter, compared to analysts’ expectations of $5.13 billion. Lennar had a net margin of 8.86% and a return on equity of 12.03%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.58 earnings per share. On average, equities research analysts expect that Lennar Co. will post 5.32 earnings per share for the current year.
Lennar Company Profile
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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