SCP Investment LP Acquires Shares of 5,000 Lennar Co. (LEN)
SCP Investment LP acquired a new position in shares of Lennar Co. (NYSE:LEN) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 5,000 shares of the construction company’s stock, valued at approximately $263,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of LEN. Dupont Capital Management Corp increased its holdings in Lennar by 117.2% during the first quarter. Dupont Capital Management Corp now owns 2,791 shares of the construction company’s stock worth $165,000 after buying an additional 1,506 shares during the last quarter. Comerica Bank increased its stake in shares of Lennar by 28.1% in the first quarter. Comerica Bank now owns 66,885 shares of the construction company’s stock worth $3,720,000 after purchasing an additional 14,653 shares in the last quarter. SG Americas Securities LLC increased its stake in shares of Lennar by 7.4% in the first quarter. SG Americas Securities LLC now owns 27,915 shares of the construction company’s stock worth $1,645,000 after purchasing an additional 1,922 shares in the last quarter. American Century Companies Inc. purchased a new position in shares of Lennar in the first quarter worth about $8,052,000. Finally, Victory Capital Management Inc. increased its stake in shares of Lennar by 5.4% in the first quarter. Victory Capital Management Inc. now owns 48,181 shares of the construction company’s stock worth $2,840,000 after purchasing an additional 2,474 shares in the last quarter. Institutional investors and hedge funds own 85.81% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Lennar from a “buy” rating to a “hold” rating in a research note on Tuesday, June 12th. Citigroup assumed coverage on shares of Lennar in a research note on Tuesday, June 19th. They issued a “buy” rating and a $65.00 target price for the company. Barclays set a $63.00 target price on shares of Lennar and gave the stock a “buy” rating in a research note on Friday. Bank of America lifted their target price on shares of Lennar from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, June 27th. Finally, MKM Partners reduced their target price on shares of Lennar to $71.00 and set a “buy” rating for the company in a research note on Wednesday, May 23rd. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $71.56.
Shares of NYSE:LEN opened at $52.35 on Friday. The company has a market cap of $17.21 billion, a P/E ratio of 13.74, a PEG ratio of 0.45 and a beta of 1.25. Lennar Co. has a 12 month low of $48.71 and a 12 month high of $72.17. The company has a debt-to-equity ratio of 0.73, a current ratio of 11.81 and a quick ratio of 0.76.
Lennar (NYSE:LEN) last issued its quarterly earnings data on Tuesday, June 26th. The construction company reported $1.58 EPS for the quarter, beating the consensus estimate of $0.45 by $1.13. The company had revenue of $5.46 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Lennar had a net margin of 6.49% and a return on equity of 12.82%. Lennar’s revenue for the quarter was up 67.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 earnings per share. equities research analysts anticipate that Lennar Co. will post 6.1 earnings per share for the current year.
Lennar Corporation, together with its subsidiaries, operates as a homebuilder primarily under the Lennar brand in the United States. The company operates through Homebuilding East, Homebuilding Central, Homebuilding West, Lennar Financial Services, Rialto, and Lennar Multifamily segments. Its 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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