Nomura Holdings Inc. cut its position in Lennar Co. (NYSE:LEN) by 2.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 583,766 shares of the construction company’s stock after selling 16,501 shares during the period. Nomura Holdings Inc.’s holdings in Lennar were worth $28,095,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in LEN. Victory Capital Management Inc. increased its holdings in shares of Lennar by 0.9% in the first quarter. Victory Capital Management Inc. now owns 60,323 shares of the construction company’s stock valued at $2,961,000 after purchasing an additional 528 shares during the period. Raymond James & Associates increased its holdings in shares of Lennar by 42.0% in the first quarter. Raymond James & Associates now owns 171,032 shares of the construction company’s stock valued at $8,396,000 after purchasing an additional 50,622 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Lennar by 0.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,123,228 shares of the construction company’s stock valued at $55,139,000 after purchasing an additional 2,904 shares during the period. TD Asset Management Inc. increased its holdings in shares of Lennar by 0.8% in the first quarter. TD Asset Management Inc. now owns 117,967 shares of the construction company’s stock valued at $5,791,000 after purchasing an additional 907 shares during the period. Finally, Keybank National Association OH increased its holdings in shares of Lennar by 5.8% in the first quarter. Keybank National Association OH now owns 6,688 shares of the construction company’s stock valued at $328,000 after purchasing an additional 366 shares during the period. 83.78% of the stock is currently owned by institutional investors and hedge funds.
LEN traded up $0.64 during trading on Friday, hitting $54.43. The company’s stock had a trading volume of 1,318,593 shares, compared to its average volume of 2,632,459. The company has a current ratio of 13.93, a quick ratio of 0.79 and a debt-to-equity ratio of 0.62. Lennar Co. has a twelve month low of $37.29 and a twelve month high of $55.00. The business’s fifty day simple moving average is $50.85 and its 200 day simple moving average is $50.29. The firm has a market capitalization of $17.11 billion, a price-to-earnings ratio of 8.57, a P/E/G ratio of 1.16 and a beta of 1.09.
Lennar (NYSE:LEN) last issued its quarterly earnings data on Tuesday, June 25th. The construction company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.13 by $0.17. Lennar had a return on equity of 12.03% and a net margin of 8.86%. The company had revenue of $5.56 billion for the quarter, compared to analyst estimates of $5.13 billion. During the same period last year, the company earned $1.58 earnings per share. Lennar’s quarterly revenue was up 1.9% compared to the same quarter last year. As a group, equities research analysts forecast that Lennar Co. will post 5.32 earnings per share for the current fiscal year.
In other Lennar news, President Jonathan M. Jaffe sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $49.04, for a total value of $980,800.00. Following the sale, the president now directly owns 346,946 shares of the company’s stock, valued at $17,014,231.84. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 8.43% of the stock is currently owned by company insiders.
A number of brokerages have recently weighed in on LEN. Raymond James lowered Lennar from an “outperform” rating to a “market perform” rating and set a $55.00 price objective on the stock. in a report on Tuesday, June 18th. They noted that the move was a valuation call. Wedbush set a $62.00 target price on Lennar and gave the stock a “buy” rating in a report on Wednesday, June 26th. SunTrust Banks initiated coverage on Lennar in a report on Monday, August 12th. They set a “hold” rating and a $47.00 target price on the stock. JPMorgan Chase & Co. dropped their target price on Lennar from $57.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, June 26th. Finally, Bank of America dropped their target price on Lennar from $57.00 to $55.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. Lennar has an average rating of “Buy” and a consensus target price of $57.10.
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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