Wesbanco Bank Inc. trimmed its position in Lennar Co. (NYSE:LEN) by 10.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,922 shares of the construction company’s stock after selling 1,459 shares during the quarter. Wesbanco Bank Inc.’s holdings in Lennar were worth $577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC increased its holdings in Lennar by 327.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 23,518 shares of the construction company’s stock worth $1,155,000 after acquiring an additional 18,015 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Lennar by 134.7% in the 1st quarter. Janus Henderson Group PLC now owns 133,687 shares of the construction company’s stock worth $6,563,000 after purchasing an additional 76,736 shares during the period. Comerica Bank boosted its stake in Lennar by 4.7% in the 1st quarter. Comerica Bank now owns 58,143 shares of the construction company’s stock worth $2,956,000 after purchasing an additional 2,616 shares during the period. Victory Capital Management Inc. boosted its stake in Lennar by 0.9% in the 1st quarter. Victory Capital Management Inc. now owns 60,323 shares of the construction company’s stock worth $2,961,000 after purchasing an additional 528 shares during the period. Finally, First Allied Advisory Services Inc. bought a new position in Lennar in the 1st quarter worth approximately $653,000. Hedge funds and other institutional investors own 83.93% of the company’s stock.

In related news, President Jonathan M. Jaffe sold 20,000 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $49.04, for a total transaction of $980,800.00. Following the sale, the president now owns 346,946 shares in the company, valued at approximately $17,014,231.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.43% of the company’s stock.

Several research firms have weighed in on LEN. Bank of America dropped their price target on Lennar from $57.00 to $55.00 and set a “buy” rating for the company in a research note on Wednesday, June 26th. JPMorgan Chase & Co. dropped their price target on Lennar from $57.00 to $54.00 and set an “overweight” rating for the company in a research note on Wednesday, June 26th. Raymond James downgraded Lennar from an “outperform” rating to a “market perform” rating and set a $55.00 price target for the company. in a research note on Tuesday, June 18th. They noted that the move was a valuation call. SunTrust Banks began coverage on Lennar in a research note on Monday, August 12th. They issued a “hold” rating and a $47.00 price target for the company. Finally, Wedbush set a $62.00 price target on Lennar and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Two research analysts have 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 stock currently has a consensus rating of “Buy” and an average target price of $57.10.

NYSE:LEN traded down $0.96 during midday trading on Friday, hitting $53.62. 4,963,403 shares of the company traded hands, compared to its average volume of 2,575,078. The firm’s fifty day moving average is $50.14 and its 200-day moving average is $50.14. Lennar Co. has a 12-month low of $37.29 and a 12-month high of $55.00. The firm has a market capitalization of $17.58 billion, a P/E ratio of 8.44, a P/E/G ratio of 1.20 and a beta of 1.09. 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 (NYSE:LEN) last released its quarterly earnings results on Tuesday, June 25th. The construction company reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ 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 quarter in the prior year, the firm posted $1.58 EPS. Lennar’s quarterly revenue was up 1.9% compared to the same quarter last year. On average, research analysts expect that Lennar Co. will post 5.32 EPS for the current fiscal year.

About Lennar

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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Institutional Ownership by Quarter for Lennar (NYSE:LEN)

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