Valeo Financial Advisors LLC Acquires New Holdings in Lennar Co. (LEN)
Valeo Financial Advisors LLC acquired a new position in Lennar Co. (NYSE:LEN) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,638 shares of the construction company’s stock, valued at approximately $245,000.
Other large investors have also recently added to or reduced their stakes in the company. D.A. Davidson & CO. boosted its position in Lennar by 8.9% during the second quarter. D.A. Davidson & CO. now owns 1,895 shares of the construction company’s stock worth $101,000 after purchasing an additional 155 shares during the period. Commonwealth Bank of Australia boosted its position in Lennar by 32.4% during the second quarter. Commonwealth Bank of Australia now owns 2,168 shares of the construction company’s stock worth $114,000 after purchasing an additional 530 shares during the period. QS Investors LLC boosted its position in Lennar by 1.0% during the second quarter. QS Investors LLC now owns 2,541 shares of the construction company’s stock worth $135,000 after purchasing an additional 25 shares during the period. MUFG Americas Holdings Corp boosted its position in Lennar by 7.3% during the second quarter. MUFG Americas Holdings Corp now owns 3,250 shares of the construction company’s stock worth $173,000 after purchasing an additional 220 shares during the period. Finally, Chartist Inc. CA bought a new stake in Lennar during the second quarter worth approximately $200,000. Hedge funds and other institutional investors own 81.34% of the company’s stock.
Shares of Lennar Co. (LEN) traded down $0.25 during mid-day trading on Wednesday, reaching $61.43. The company had a trading volume of 2,616,400 shares, compared to its average volume of 2,460,143. The company has a market capitalization of $14,510.84, a PE ratio of 15.81, a P/E/G ratio of 1.25 and a beta of 1.35. Lennar Co. has a 52-week low of $42.23 and a 52-week high of $63.94. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.59 and a current ratio of 7.76.
Lennar (NYSE:LEN) last issued its earnings results on Tuesday, October 3rd. The construction company reported $1.06 EPS for the quarter, topping the consensus estimate of $1.01 by $0.05. The firm had revenue of $3.26 billion during 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%. Lennar’s quarterly revenue was up 15.1% compared to the same quarter last year. During the same period last year, the business earned $1.01 earnings per share. research analysts anticipate that Lennar Co. will post 4.04 EPS for the current fiscal year.
In related news, CFO Bruce E. Gross sold 5,000 shares of the firm’s stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $56.48, for a total value of $282,400.00. Following the completion of the transaction, the chief financial officer now directly owns 376,043 shares of the company’s stock, valued at $21,238,908.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 12.18% of the stock is owned by company insiders.
A number of equities research analysts have issued reports on LEN shares. Royal Bank of Canada reaffirmed a “buy” rating and set a $64.00 target price on shares of Lennar in a research report on Monday, August 21st. Zacks Investment Research raised Lennar from a “hold” rating to a “buy” rating and set a $58.00 target price for the company in a research report on Tuesday, August 22nd. BidaskClub cut Lennar from a “hold” rating to a “sell” rating in a research report on Saturday, August 26th. MKM Partners reaffirmed a “neutral” rating on shares of Lennar in a research report on Tuesday, September 5th. Finally, Wedbush reissued a “neutral” rating and issued a $54.00 price objective on shares of Lennar in a research report on Thursday, September 14th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $57.93.
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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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