Chevy Chase Trust Holdings Inc. Buys 2,168 Shares of Lennar Co. (LEN)
Chevy Chase Trust Holdings Inc. grew its stake in shares of Lennar Co. (NYSE:LEN) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 177,853 shares of the construction company’s stock after acquiring an additional 2,168 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.08% of Lennar worth $9,391,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of LEN. Alyeska Investment Group L.P. bought a new position in shares of Lennar in the third quarter worth $2,239,000. Magnetar Financial LLC bought a new position in shares of Lennar in the third quarter worth $377,000. Psagot Investment House Ltd. increased its holdings in shares of Lennar by 15.3% in the third quarter. Psagot Investment House Ltd. now owns 38,605 shares of the construction company’s stock worth $2,038,000 after purchasing an additional 5,130 shares during the period. Asset Management One Co. Ltd. increased its holdings in shares of Lennar by 0.3% in the third quarter. Asset Management One Co. Ltd. now owns 313,127 shares of the construction company’s stock worth $16,524,000 after purchasing an additional 924 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in shares of Lennar by 29.3% in the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 77,185 shares of the construction company’s stock worth $4,075,000 after purchasing an additional 17,501 shares during the period. Hedge funds and other institutional investors own 81.34% of the company’s stock.
Several research firms have recently weighed in on LEN. Mizuho cut shares of Lennar from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $59.00 to $53.00 in a report on Tuesday, September 19th. Bank of America upped their price target on shares of Lennar from $63.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, October 4th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $64.00 price target on shares of Lennar in a report on Monday, August 21st. MKM Partners raised shares of Lennar from a “neutral” rating to a “buy” rating and set a $64.00 price target on the stock in a report on Wednesday, October 4th. Finally, Zacks Investment Research raised shares of Lennar from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a report on Friday, September 15th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $58.14.
Lennar Co. (NYSE:LEN) traded up $0.03 on Friday, reaching $61.14. The company had a trading volume of 2,718,700 shares, compared to its average volume of 2,462,446. The company has a market capitalization of $14,376.74, a PE ratio of 15.67, a PEG ratio of 1.24 and a beta of 1.35. The company has a current ratio of 7.76, a quick ratio of 0.59 and a debt-to-equity ratio of 0.72. Lennar Co. has a 1-year low of $42.23 and a 1-year high of $63.94.
Lennar (NYSE:LEN) last released its earnings results on Tuesday, October 3rd. The construction company reported $1.06 EPS for the quarter, beating the Zacks’ consensus estimate of $1.01 by $0.05. The business had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.25 billion. Lennar had a return on equity of 12.37% and a net margin of 6.65%. The firm’s revenue was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.01 earnings per share. equities research analysts predict that Lennar Co. will post 4.04 EPS for the current year.
In related news, CFO Bruce E. Gross sold 5,000 shares of the stock in a transaction on Tuesday, November 21st. The stock was sold at an average price of $60.00, for a total value of $300,000.00. Following the transaction, the chief financial officer now owns 371,043 shares of the company’s stock, valued at $22,262,580. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 12.18% of the stock is owned by corporate insiders.
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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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