Lennar Co. (NYSE:LEN) Shares Sold by MQS Management LLC

MQS Management LLC reduced its stake in shares of Lennar Co. (NYSE:LEN) by 34.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 4,748 shares of the construction company’s stock after selling 2,540 shares during the period. MQS Management LLC’s holdings in Lennar were worth $712,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LEN. Zurich Insurance Group Ltd FI acquired a new stake in shares of Lennar during the 1st quarter worth approximately $61,807,000. Jacobs Levy Equity Management Inc. grew its position in Lennar by 157.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 575,003 shares of the construction company’s stock valued at $98,889,000 after buying an additional 351,698 shares during the period. Swedbank AB purchased a new position in Lennar in the first quarter valued at $28,998,000. Cercano Management LLC acquired a new position in shares of Lennar in the first quarter worth about $24,341,000. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Lennar during the 4th quarter worth about $16,394,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Lennar Trading Down 0.5 %

Shares of LEN opened at $188.44 on Thursday. The company has a current ratio of 4.93, a quick ratio of 0.91 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $175.35 and a 200 day moving average price of $163.60. Lennar Co. has a 12-month low of $102.90 and a 12-month high of $192.40. The firm has a market capitalization of $51.75 billion, a P/E ratio of 12.81, a P/E/G ratio of 1.61 and a beta of 1.61.

Lennar (NYSE:LEN) last announced its quarterly earnings results on Monday, June 17th. The construction company reported $3.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.20 by $0.18. Lennar had a net margin of 11.58% and a return on equity of 15.93%. The business had revenue of $8.77 billion during the quarter, compared to the consensus estimate of $8.57 billion. Sell-side analysts forecast that Lennar Co. will post 14.16 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Raymond James cut Lennar from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. reduced their price objective on shares of Lennar from $157.00 to $154.00 and set a “neutral” rating for the company in a research report on Thursday, June 20th. Wells Fargo & Company lifted their target price on shares of Lennar from $195.00 to $205.00 and gave the company an “overweight” rating in a research report on Monday, September 9th. Keefe, Bruyette & Woods boosted their price objective on Lennar from $183.00 to $230.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Finally, BTIG Research dropped their price target on Lennar from $177.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Lennar has an average rating of “Hold” and an average target price of $172.69.

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, Financial Services, Multifamily, and Lennar Other 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; and development, construction, and management of multifamily rental properties.