Neuburgh Advisers LLC Raises Stock Holdings in Lennar Co. (NYSE:LEN)
Neuburgh Advisers LLC raised its stake in shares of Lennar Co. (NYSE:LEN) by 2.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 16,400 shares of the construction company’s stock after acquiring an additional 432 shares during the period. Neuburgh Advisers LLC’s holdings in Lennar were worth $795,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in LEN. Pictet Asset Management Ltd. raised its holdings in shares of Lennar by 283.2% during the first quarter. Pictet Asset Management Ltd. now owns 576,778 shares of the construction company’s stock valued at $28,314,000 after purchasing an additional 426,269 shares during the last quarter. Long Pond Capital LP grew its holdings in shares of Lennar by 21.1% in the first quarter. Long Pond Capital LP now owns 2,327,633 shares of the construction company’s stock worth $114,264,000 after acquiring an additional 405,962 shares during the period. Carlson Capital L P purchased a new stake in Lennar during the second quarter valued at $11,272,000. Cannell Peter B & Co. Inc. increased its position in Lennar by 19.7% during the second quarter. Cannell Peter B & Co. Inc. now owns 949,237 shares of the construction company’s stock valued at $46,000,000 after acquiring an additional 156,236 shares during the last quarter. Finally, Kranot Hishtalmut Le Morim Ve Gananot Havera Menahelet LTD purchased a new stake in Lennar during the second quarter valued at $5,890,000. 83.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of LEN traded up $0.88 during mid-day trading on Wednesday, reaching $54.18. The stock had a trading volume of 684,409 shares, compared to its average volume of 2,749,223. The business has a fifty day moving average of $49.84 and a 200 day moving average of $50.11. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.79 and a current ratio of 13.93. The firm has a market cap of $16.89 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 1.15 and a beta of 1.09. Lennar Co. has a 12 month low of $37.29 and a 12 month high of $54.50.
In related news, President Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $49.04, for a total transaction of $980,800.00. Following the completion of the sale, the president now owns 346,946 shares in the company, valued at $17,014,231.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.43% of the company’s stock.
Several brokerages have issued reports on LEN. SunTrust Banks started coverage on Lennar in a research report on Monday, August 12th. They issued a “hold” rating and a $47.00 target price on the stock. Zacks Investment Research cut shares of Lennar from a “hold” rating to a “sell” rating and set a $53.00 price objective on the stock. in a research note on Thursday, May 30th. JPMorgan Chase & Co. dropped their price objective on shares of Lennar from $57.00 to $54.00 and set an “overweight” rating on the stock in a report on Wednesday, June 26th. ValuEngine lowered 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 target price for the company. in a report on Tuesday, June 18th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target 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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